Barclays Sticks to Their Hold Rating for Eaton (ETN)
In a report released today, Julian Mitchell from Barclays maintained a Hold rating on Eaton, with a price target of $392.00.
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According to TipRanks, Mitchell is a 5-star analyst with an average return of 17.0% and a 66.27% success rate. Mitchell covers the Industrials sector, focusing on stocks such as Honeywell International, 3M, and Ametek.
Currently, the analyst consensus on Eaton is a Strong Buy with an average price target of $468.73.
Based on Eaton’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.45 billion and a net profit of $866 million. In comparison, last year the company earned a revenue of $6.38 billion and had a net profit of $964 million
Based on the recent corporate insider activity of 46 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. Last month, Antonio Galvao, the President – Mobility Group of Eaton Corporation of ETN sold 494.00 shares for a total of $200,489.90.
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