What’s Eaton Corporation, PLC Ordinary Shares Upside After Today’s Bullish Options Activity?

 What's Eaton Corporation, PLC Ordinary Shares Upside After Today's Bullish Options Activity?

In today’s session Eaton Corporation, PLC Ordinary Shares (ETN) registered an unusually high (229) 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 229 contracts traded and 43154 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: ETN170120C00070000 closed last at: $0.7 or 22.2% down. About 278,708 shares traded hands. Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has risen 2.91% since April 27, 2016 and is uptrending. It has underperformed by 2.31% the S&P500.

Analysts await Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) to report earnings on February, 1. They expect $1.10 earnings per share, down 5.98% or $0.07 from last year’s $1.17 per share. ETN’s profit will be $489.53M for 15.15 P/E if the $1.10 EPS becomes a reality. After $1.15 actual earnings per share reported by Eaton Corporation, PLC Ordinary Shares for the previous quarter, Wall Street now forecasts -4.35% negative 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 $60 average target is -10.00% below today’s ($66.67) stock price. Eaton Corporation has been the topic of 41 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, July 14 by Bank of America. The stock has “Neutral” rating given by Atlantic Securities on Friday, August 14. Avondale initiated Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) on Thursday, October 15 with “Market Perform” rating. Citigroup maintained Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) on Thursday, February 4 with “Buy” rating. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, July 30. On Monday, November 2 the stock rating was downgraded by Bernstein to “Market Perform”. Credit Agricole initiated it with “Underperform” rating and $54 target price in Monday, October 19 report. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, October 20. The firm earned “Neutral” rating on Thursday, October 15 by Robert W. Baird. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) earned “Sector Perform” rating by RBC Capital Markets on Thursday, February 4.

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 decreased to 1.07 in Q2 2016. Its down 0.12, from 1.19 in 2016Q1. The ratio is negative, 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.
Bar Harbor Tru Services, a Maine-based fund reported 93,293 shares. Mizuho Asset Coltd has 0.07% invested in the company for 6,324 shares. Kcm Inv Limited Liability Corp reported 14,602 shares or 0.06% of all its holdings. The Pennsylvania-based Staley Capital Advisers Inc has invested 0.02% in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Federated Inc Pa holds 0.17% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 983,303 shares. Lpl Fincl Ltd Liability Corporation has 0.02% invested in the company for 36,027 shares. Putnam Ltd Liability has 0% invested in the company for 10,499 shares. Edinburgh Prtn Limited holds 0.01% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 1,000 shares. Huntington Fincl Bank has invested 0.06% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Alethea Cap Management Ltd Liability Corporation last reported 0.68% of its portfolio in the stock. Hightower Advisors holds 0.07% or 87,041 shares in its portfolio. Airain accumulated 0.13% or 36,380 shares. Anchor Cap Advsr Limited has invested 0.31% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Bedrijfstakpensioenfonds Voor De Media Pno accumulated 16,200 shares or 0.13% of the stock. Ferguson Wellman Cap Mngmt last reported 101,064 shares in the company.

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.

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