Eaton Receives New Coverage from Analysts at Goldman Sachs (ETN)
Analysts at Goldman Sachs initiated coverage on shares of Eaton (NYSE: ETN) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
A number of other analysts have also recently weighed in on ETN. Analysts at Buckingham Research upgraded shares of Eaton from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, March 14th. Separately, analysts at Longbow Research reiterated a “buy” rating on shares of Eaton in a research note to investors on Thursday, March 14th. They now have a $73.00 price target on the stock. Finally, analysts at Barclays Capital downgraded shares of Eaton from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, March 14th. They now have a $67.00 price target on the stock, down previously from $68.00.
Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $65.53.
Shares of Eaton (NYSE: ETN) opened at 62.68 on Thursday. Eaton has a one year low of $36.38 and a one year high of $63.81. The stock’s 50-day moving average is currently $60.79. The company has a market cap of $29.529 billion and a P/E ratio of 18.12.
Eaton (NYSE: ETN) last announced its earnings results on Tuesday, February 5th. The company reported $0.82 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.93 by $0.11. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter last year, the company posted $1.08 earnings per share. Eaton’s revenue was up 7.4% compared to the same quarter last year. Eaton has set its Q1 guidance at $0.76-0.86 EPS and its FY13 guidance at $4.05-4.45 EPS. Analysts expect that Eaton will post $4.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 22nd. Shareholders of record on Monday, March 11th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.68%.
Eaton Corporation (NYSE: ETN) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; 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.
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