In today’s session Eaton Corporation, PLC Ordinary Shares (ETN) recorded an unusually high (550) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ETN decrease. With 550 contracts traded and 1084 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ETN161021P00064000 closed last at: $0.9 or 50% up. About 831,709 shares traded hands. Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has risen 10.83% since March 8, 2016 and is uptrending. It has outperformed by 1.52% the S&P500.
Analysts await Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) to report earnings on November, 4. They expect $1.15 earnings per share, up 18.56% or $0.18 from last year’s $0.97 per share. ETN’s profit will be $528.76 million for 13.79 P/E if the $1.15 EPS becomes a reality. After $1.07 actual earnings per share reported by Eaton Corporation, PLC Ordinary Shares for the previous quarter, Wall Street now forecasts 7.48% EPS growth.
Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) Ratings Coverage
Out of 21 analysts covering Eaton Corporation (NYSE:ETN), 4 rate it a “Buy”, 2 “Sell”, while 15 “Hold”. This means 19% are positive. $78 is the highest target while $51 is the lowest. The $59.65 average target is -5.94% below today’s ($63.42) stock price. Eaton Corporation has been the topic of 40 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was initiated by HSBC on Friday, October 7 with “Buy”. CLSA initiated Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) rating on Monday, October 19. CLSA has “Underperform” rating and $54 price target. The firm has “Buy” rating given on Wednesday, August 10 by Argus Research. On Thursday, February 4 the stock rating was maintained by Citigroup with “Buy”. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) earned “Market Perform” rating by Avondale on Thursday, October 15. As per Friday, October 9, the company rating was downgraded by JP Morgan. The rating was downgraded by Robert W. Baird to “Neutral” on Thursday, October 15. KeyBanc Capital Markets downgraded the shares of ETN in a report on Friday, September 9 to “Sector Weight” rating. Deutsche Bank maintained Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) on Tuesday, August 25 with “Hold” rating. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has “Sector Perform” rating given on Tuesday, October 20 by RBC Capital Markets.
According to Zacks Investment Research, “Eaton Corporation plc is a power management company. The Company is a provider of electrical products, systems and services for power distribution and control, power transmission, lighting and wiring products; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. It serves the Agriculture and Forestry, Aviation, Community Infrastructure, Construction, Data Centers, Energy, Government & Military, Healthcare, Manufacturing & Industrial, Residential and Vehicles markets. Eaton Corporation plc, formerly known as Eaton Corporation Limited is headquartered in Cleveland, Ohio.”
Insitutional Activity: The institutional sentiment increased to 1.19 in Q2 2016. Its up 0.10, from 1.09 in 2016Q1. The ratio improved, as 68 funds sold all Eaton Corporation, PLC Ordinary Shares shares owned while 236 reduced positions. 78 funds bought stakes while 285 increased positions. They now own 324.53 million shares or 1.55% less from 329.64 million shares in 2016Q1.
Argent has 5,531 shares for 0.1% of their US portfolio. Mai Cap has 11,422 shares for 0.05% of their US portfolio. Corbyn Investment Mgmt Incorporated Md has 25,574 shares for 0.5% of their US portfolio. Tocqueville Asset Management Ltd Partnership reported 7,850 shares or 0.01% of all its holdings. Guardian Capital Limited Partnership has invested 0% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Hightower Advsrs Limited Liability holds 0.07% or 87,041 shares in its portfolio. Moreover, Lombard Odier Asset Management (Europe) Limited has 0.02% invested in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 7,742 shares. Gotham Asset Management Ltd Liability Co owns 6,795 shares or 0% of their US portfolio. The Japan-based Mizuho Asset Coltd has invested 0.07% in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Trexquant Investment Limited Partnership holds 0.28% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 35,700 shares. Patten & Patten Tn accumulated 25,891 shares or 0.21% of the stock. Cullinan last reported 5,926 shares in the company. Blackrock Group last reported 4.45 million shares in the company. First National Bank & Trust Company Of Newtown holds 0.08% or 4,025 shares in its portfolio. Fmr Ltd Llc has invested 0.08% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN).
ETN Company Profile
Eaton Corporation plc (Eaton), incorporated on May 10, 2012, is a power management company. The Firm provides energy-efficient solutions that help its clients to manage electrical, hydraulic and mechanical power. The Firm sells products to clients in over 175 countries. The Firm operates in four divisions: Electrical Products and Electrical Systems and Services, Hydraulics, Aerospace and Vehicle.
Another recent and important Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) news was published by Marketwatch.com which published an article titled: “/quotes/zigman/3870025/realtime” on July 20, 2009.
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