Bank of America Downgrades Eaton Corporation PLC Ordinary Shares to Neutral

Brokerage firm Bank of America Downgrades its rating on Eaton Corporation PLC Ordinary Shares(NYSE:ETN). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Bank of America was issued on Jul 14, 2016.

In a different note, On May 2, 2016, Bernstein said it Maintains its rating on Eaton Corporation PLC Ordinary Shares. In the research note, the firm Raises the price-target to $65.00 per share. The shares have been rated ‘Market Perform’ by the firm. On May 2, 2016, Buckingham Research said it Maintains its rating on Eaton Corporation PLC Ordinary Shares. In the research note, the firm Raises the price-target to $60.00 per share. The shares have been rated ‘Neutral’ by the firm.

Eaton Corporation PLC Ordinary Shares (ETN) shares turned negative on Mondays trading session with the shares closing down -0.34 points or -0.53% at a volume of 18,72,230. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $63.73. The peak price level was also seen at $63.73 while the days lowest was $63.08. Finally the shares closed at $63.49. The 52-week high of the shares is $65.51 while the 52-week low is $46.19. According to the latest information available, the market cap of the company is $29,078 M.

Eaton Corporation PLC Ordinary Shares(ETN) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $4.81B. Analysts had an estimated revenue of $4.77B. Earnings per share were $0.88. Analysts had estimated an EPS of $0.85.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, Mark M Mcguire (officer ) sold 18,751 shares at $63.04 per share price.Also, 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.

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