Eaton Corporation (ETN) Receives a Buy from Wells Fargo

By Carrie Williams

Wells Fargo analyst Andy Casey maintained a Buy rating on Eaton Corporation (ETNResearch Report) yesterday. The company’s shares closed on Friday at $80.23.

According to TipRanks.com, Casey is a 4-star analyst with an average return of 7.1% and a 53.1% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Illinois Tool Works, Caterpillar, and Terex Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eaton Corporation with a $80.29 average price target.

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Based on Eaton Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.46 billion and net profit of $631 million. In comparison, last year the company earned revenue of $5.21 billion and had a net profit of $634 million.

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Eaton Corp. Plc is a diversified power management company, which provides energy-efficient solutions for electrical, hydraulic and mechanical power. It operates through the following segments: Electrical Products, Electrical Systems and Services; Hydraulics; Aerospace and Vehicle.