JP Morgan Downgrades Eaton Corporation PLC Ordinary Shares to Neutral with Price Target $70

Brokerage firm JP Morgan Downgrades its rating on Eaton Corporation PLC Ordinary Shares(ETN). As per the latest information, JP Morgan Lowers the price target to $70 per share from a prior target of $75. The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Feb 3, 2017.

In a different note, On Jan 3, 2017, Vertical Research said it Downgrades its rating on Eaton Corporation PLC Ordinary Shares. The shares have been rated ‘Hold’ by the firm.

Eaton Corporation PLC Ordinary Shares (ETN) made into the market gainers list on Tuesdays trading session with the shares advancing 0.37% or 0.26 points. Due to strong positive momentum, the stock ended at $70.24, which is also near the day’s high of $71.1. The stock began the session at $70.33 and the volume stood at 22,21,414 shares. The 52-week high of the shares is $72 and the 52 week low is $52.35. The company has a current market capitalization of $31,727 M and it has 45,17,00,000 shares in outstanding.

Eaton Corporation PLC Ordinary Shares(ETN) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $4.867B. Analysts had an estimated revenue of $4.910B. Earnings per share were $1.12. Analysts had estimated an EPS of $1.1.

Several Insider Transactions has been reported to the SEC. On Dec 13, 2016, Ken D Semelsberger (officer ) sold 19,913 shares at $69.15 per share price.Also, On Nov 28, 2016, Deborah L Mccoy (director) sold 6,504 shares at $66.34 per share price.On Nov 22, 2016, Revathi Advaithi (officer ) sold 39,008 shares at $64.17 per share price, according to the Form-4 filing with the securities and exchange commission.

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