Morgan Stanley analyst Joshua Pokrzywinski maintained a Buy rating on Eaton (ETN – Research Report) today and set a price target of $175.00. The company’s shares opened today at $159.04.
According to TipRanks, Pokrzywinski is a 4-star analyst with an average return of 6.8% and a 57.63% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Lennox International, Ametek, and Dover.
The word on The Street in general, suggests a Hold analyst consensus rating for Eaton with a $162.83 average price target.
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Based on Eaton’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.31 billion and a net profit of $607 million. In comparison, last year the company earned a revenue of $4.92 billion and had a net profit of $629 million
Based on the recent corporate insider activity of 34 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. Most recently, in November 2022, Faria Joao V, the President – Vehicle Group of Eaton Corporation, a of ETN sold 3,795.00 shares for a total of $594,297.00.
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Eaton Corporation plc is a diversified power management company. It provides electrical and industrial components, wiring devices, residential, fire detection, lighting products., It also engages in designing and manufacturing power train systems and other components for commercial vehicle markets. The company also provides aerospace fuel, hydraulics and pneumatic systems for military and commercial use.
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