Eaton Corporation PLC Ordinary Shares (ETN) is Downgraded by BofA/Merrill to Neutral

Eaton Corporation PLC Ordinary Shares (ETN) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 14, 2016.

Many Wall Street Analysts have commented on Eaton Corporation PLC Ordinary Shares. Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 59 from a previous price target of $57 .

On the company’s financial health, Eaton Corporation PLC Ordinary Shares reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.85. The company had revenue of $4813.00 million for the quarter, compared to analysts expectations of $4777.55 million. The company’s revenue was down -7.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.

Eaton Corporation PLC Ordinary Shares closed down -0.09 points or -0.14% at $63.87 with 19,60,584 shares getting traded on Wednesday. Post opening the session at $63.98, the shares hit an intraday low of $63.32 and an intraday high of $64.15 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jun 9, 2016, Mark M Mcguire (officer ) sold 18,751 shares at $63.04 per share price. According to the SEC, on May 13, 2016, Alexander M Cutler (director officer ) sold 138,762 shares at $62.33 per share price. On Feb 23, 2016, Cynthia K Brabander (officer ) purchased 810 shares at $57.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Eaton Corporation PLC Ordinary Shares

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