Could Eaton Corporation, PLC Ordinary Shares Change Direction After Today’s Bullish Options Activity?

 Could Eaton Corporation, PLC Ordinary Shares Change Direction After Today's Bullish Options Activity?

In today’s session Eaton Corporation, PLC Ordinary Shares (ETN) registered an unusually high (694) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious ETN increase. With 694 contracts traded and 6834 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: ETN170120C00062500 closed last at: $2.6 or 6.1% up. About 3.01M shares traded hands or 27.00% up from the average. Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has risen 1.63% since March 30, 2016 and is uptrending. It has underperformed by 1.39% 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 $547.53 million for 13.24 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. Eaton Corporation has been the topic of 40 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Argus Research upgraded Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) on Wednesday, August 10 to “Buy” rating. The rating was downgraded by KeyBanc Capital Markets to “Sector Weight” on Friday, September 9. Bank of America downgraded the shares of ETN in a report on Thursday, July 14 to “Neutral” rating. Credit Agricole initiated the shares of ETN in a report on Monday, October 19 with “Underperform” rating. William Blair downgraded the stock to “Neutral” rating in Thursday, October 15 report. As per Tuesday, August 25, the company rating was maintained by Deutsche Bank. The company was maintained on Thursday, February 4 by RBC Capital Markets. The rating was maintained by Buckingham Research on Monday, May 2 with “Neutral”. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has “Neutral” rating given on Monday, April 4 by Longbow. The firm earned “Neutral” rating on Friday, August 14 by Atlantic Securities.

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 is positive, 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.
Sageworth Trust Company has 8,016 shares for 0.12% of their US portfolio. Moreover, Mai Cap Mngmt has 0.05% invested in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 11,422 shares. Point72 Asset Limited Partnership has 0% invested in the company for 700 shares. Cypress Asset Incorporated Tx has invested 0.55% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Moreover, Wunderlich Capital Managemnt has 0.9% invested in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 17,790 shares. Kelly Lawrence W Associate Ca has invested 1.08% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Seminole Mngmt holds 356,829 shares or 2.16% of its portfolio. South Dakota Invest Council accumulated 74,000 shares or 0.1% of the stock. Advisory Svcs Limited Liability Corporation accumulated 8,178 shares or 0.11% of the stock. Robecosam Ag reported 134,000 shares or 0.71% of all its holdings. Amer Savings Bank accumulated 0.04% or 1,915 shares. General American Investors Com, a New York-based fund reported 219,131 shares. Alps Advisors Incorporated has 427,451 shares for 0.23% of their US portfolio. State Of Tennessee Treasury Department holds 101,995 shares or 0.03% of its portfolio. Archford Strategies Ltd Liability Com owns 316 shares or 0.01% of their US portfolio.

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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