Bernstein Remains a Buy on Eaton (ETN)

Bernstein analyst Chad Dillard maintained a Buy rating on Eaton yesterday and set a price target of $428.00. The company’s shares closed yesterday at $363.95.

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According to TipRanks, Dillard is a 4-star analyst with an average return of 7.6% and a 60.00% success rate. Dillard covers the Industrials sector, focusing on stocks such as Cummins, Hubbell B, and Caterpillar.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Eaton with a $401.20 average price target, representing a 10.23% upside. In a report released on March 16, Jefferies also initiated coverage with a Buy rating on the stock with a $430.00 price target.

Based on Eaton’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.06 billion and a net profit of $1.13 billion. In comparison, last year the company earned a revenue of $6.24 billion and had a net profit of $971 million

Based on the recent corporate insider activity of 53 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, PAULO RUIZ STERNADT, the CEO of Eaton Corporation of ETN sold 10,707.00 shares for a total of $4,178,406.75.