Oppenheimer Maintains Their Buy Rating on Eaton (ETN)
Oppenheimer analyst Christopher Glynn maintained a Buy rating on Eaton (ETN) yesterday and set a price target of $115.00. The company’s shares closed last Monday at $96.58.
According to TipRanks.com, Glynn is a 4-star analyst with an average return of 5.4% and a 55.6% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.
Currently, the analyst consensus on Eaton is a Moderate Buy with an average price target of $108.08, representing a 9.3% upside. In a report issued on February 18, UBS also upgraded the stock to Buy with a $121.00 price target.
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Based on Eaton’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.24 billion and net profit of $452 million. In comparison, last year the company earned revenue of $5.46 billion and had a net profit of $631 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ETN in relation to earlier this year.
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Eaton Corp. Plc is a diversified power management company, which provides energy-efficient solutions for electrical, hydraulic and mechanical power. It operates through the following segments: Electrical Products, Electrical Systems and Services; Hydraulics; Aerospace, Vehicle and eMobility.