Fintel reports that on November 5, 2024, Bernstein initiated coverage of Eaton (NYSE:ETN) with a Outperform recommendation.
Analyst Price Forecast Suggests 6.82% Upside
As of October 21, 2024, the average one-year price target for Eaton is $360.66/share. The forecasts range from a low of $282.80 to a high of $412.65. The average price target represents an increase of 6.82% from its latest reported closing price of $337.63 / share.
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The projected annual revenue for Eaton is 23,218MM, a decrease of 5.64%. The projected annual non-GAAP EPS is 9.13.
What is the Fund Sentiment?
There are 3,209 funds or institutions reporting positions in Eaton. This is an increase of 131 owner(s) or 4.26% in the last quarter. Average portfolio weight of all funds dedicated to ETN is 0.48%, an increase of 6.77%. Total shares owned by institutions decreased in the last three months by 0.47% to 380,915K shares. 
The put/call ratio of ETN is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 22,011K shares representing 5.57% ownership of the company. In its prior filing, the firm reported owning 23,990K shares , representing a decrease of 8.99%. The firm decreased its portfolio allocation in ETN by 10.65% over the last quarter.
Bank Of America holds 12,652K shares representing 3.20% ownership of the company. In its prior filing, the firm reported owning 13,538K shares , representing a decrease of 7.01%. The firm decreased its portfolio allocation in ETN by 78.04% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,644K shares representing 3.20% ownership of the company. In its prior filing, the firm reported owning 12,553K shares , representing an increase of 0.72%. The firm decreased its portfolio allocation in ETN by 1.78% over the last quarter.
Massachusetts Financial Services holds 10,323K shares representing 2.61% ownership of the company. In its prior filing, the firm reported owning 11,811K shares , representing a decrease of 14.42%. The firm decreased its portfolio allocation in ETN by 86.16% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 10,261K shares representing 2.60% ownership of the company. In its prior filing, the firm reported owning 10,062K shares , representing an increase of 1.94%. The firm decreased its portfolio allocation in ETN by 3.20% over the last quarter.
Eaton Background Information
(This description is provided by the company.)
Eaton's mission is to improve the quality of life and the environment through the use of power management technologies and services. The Company provides sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power - more safely, more efficiently, and more reliably. Eaton's 2020 revenues were $17.9 billion, and it sells products to customers in more than 175 countries. The Company has approximately 92,000 employees.
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