03-01-2019: Eaton Corporation (ETN): Very Large Manufacturer of Electrical Parts Based in Ireland

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Eaton Corporation

Eaton Corporation (ETN) is an Irish-based company which appears to want to be all things to all people, electrically-speaking. It has gobbled up a number of smaller brands and run them rather unsuccessfully into extinction, or at least so an almost unavailable "history" we could gather would indicate. One of the corporations it acquired was a top U.S. electrical equipment manufacturer, Cutler-Hammer. Possibly, the current U.S. Administration's emphasis on trying to bring jobs back to America may not be favoring this corporation.

Its website is full of generalities and glowing terms about services it provides, but is short on detail about actual products. It seems more interested in "diversification" and "community service." t appears to have been prepared by non-technical managers. The company does pay a 3.2% dividend and has a CEO Letter to shareholders indicating some shareholder concern, but management is way over-compensated in our opinion, indicating lack of corporate governance. Insider information appears relatively easy to get, which is a plus for this corporation. Normally, we avoid foreign-based stocks because they do not meet SEC reporting requirements for domestically- based ones, but this one slipped through. Its sheer size would seem to make it a less risky trade, but its reporting is horrible. Data is only partially available and that more than a year old, as evidently the company reports very late. This screwed up the Zenith Index but from what little we can gather from reporting on "cash flow", this corporation may be in trouble, but we are not accounting experts and others may disagree. For sure, a company with 99,000 employees worldwide, and #4 in the medium voltage electrical equipment industry manufacturers, one would expect better on reporting. It may be more of a reporting problem than an actual financial mess, but however the case, its really hard to tell where this giant corporation stands in terms of financial health, at least as far as we are concerned. We did note the corporation has issued or acquired liabilities for an unusual number of very highly-rated bonds which is a plus for the corporation in our opinion.

Institutions appear to be bailing out of this stock and own a relatively small percentage of outstanding shares compared to other very large corporations such as this one.

Eaton has a large number of bond issue offerings, often associated with companies it has acquired. These include names like Crouse-Hinds and Cooper Industries.

Eaton has something to fear from the current Administration's punitive actions on companies that relocate facilities to outside the U.S. to places like Mexico and China. Eaton does a lot of business in China and trade tariffs will hurt sufficiently badly that there is rush on to import parts from China before tariffs are applied.

The stock itself appears to be a trading range or "channeling" candidate currently in the upper part of a trading range that is forming. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Eaton Corporation plc (ETN)                               Exchange: NYSE
Eaton House
30 Pembroke Road                 Sector: Industrials
Dublin 4                         Industry: Diversified
Ireland

Eaton Corporation plc operates as a power management company worldwide.
Its Electrical Products segment offers electrical and industrial
components, residential products, single phase power quality products,
emergency lighting and fire detection products, wiring devices,
structural support systems, and circuit protection and lighting
products. The company's Electrical Systems and Services segment provides
power distribution and assemblies, three phase power quality products,
hazardous duty electrical equipment, explosion-proof instrumentation,
utility power distribution equipment, power reliability equipment, and
services. Its Hydraulics segment offers various power products, controls
and sensing products, fluid conveyance products, filtration systems
solutions, industrial drum and disc brakes, and golf grips. The
company's Aerospace segment provides hydraulic power generation systems,
controls and sensing products, fluid conveyance products, and fuel
systems for commercial and military use. Its Vehicle segment designs,
manufactures, markets, and supplies drivetrain and powertrain systems,
and critical components, including transmissions, clutches, hybrid power
systems, superchargers, engine valves and valve actuation systems,
cylinder heads, locking and limited slip differentials, transmission
controls, fuel vapor components, fluid connectors, and conveyance
products. The company serves industrial, institutional, governmental,
utility, commercial, residential, information technology, renewable
energy, marine, agriculture, oil and gas, construction, mining,
forestry, material handling, truck and bus, machine tools, molding,
primary metals, and power generation markets, as well as original
equipment manufacturers and aftermarket customers of heavy, medium, and
light-duty trucks, SUVs, CUVs, passenger cars, and agricultural
equipment. Eaton Corporation plc was founded in 1916 and is based in
Dublin, Ireland.

Last Trade:  80.92                           52-Week Range:  89.46 -  64.46
Employees: 99,000                            Avg.Volume:   2,707,151 Shares

Corporate Governance:
Pillar scores are Audit: 1; Board: 9; Shareholder Rights: 6; Compensation: 3.
         (A lower number means less governance risk.)

EPS:  4.91    Dividend Amount: $ 2.64          Yield:  3.26%
             Ex-Dividend Date: Oct 31, 2018    Payout Ratio:  53.77

Key Statistics:

    Trailing P/E:  16.39              Forward P/E (est.):  12.84
                                           Target Price:  86.00

Qrtly Stock Price Growth (yoy):   0.27%               Beta:   0.00
Qrtly S&P Index   Growth (yoy):   4.70%        Short Ratio:   2.84%
    Qrtly Revenue Growth (yoy):   3.03%         Shares Out:  433400000
   Qrtly Earnings Growth (yoy):  -1.30%

          Book Value:  37.47                    Debt/Equity:  46.59%
    Price/Book Value:   2.15        Operating Profit Margin:  13.73%
         Price/Sales:   1.61                  Profit Margin:   9.93%
         Market Cap:  34,884,000,000       Return on Equity:  12.84%
    Enterprise Value:  41,900,000,000      Return on Assets:   5.82%

    Operating Cash Flow:      2,666,000
         Free Cash Flow:          7,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2018  12/31/2017  12/31/2016

  Total Revenue                             21,609,000  20,404,000  19,747,000
  Cost of Revenue                           14,511,000  13,756,000  13,405,000
  Gross Profit                               7,098,000   6,648,000   6,342,000

Operating Expenses:
  Research & Development                       584,000     584,000     589,000
  Selling, General & Administrative          3,547,000   3,561,000   3,505,000
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                  18,642,000  17,901,000  17,499,000

Operating Income or Loss                     2,967,000   2,503,000   2,248,000

Income from Continuing Operations:
  Total Other Income/Expenses Net             -543,000     865,000    -130,000
  Earnings Before Interest & Taxes           2,967,000   2,503,000   2,248,000
  Interest Expense                            -271,000    -237,000    -233,000
  Income Before Taxes                        2,424,000   3,368,000   2,118,000
  Income Tax Expense                           278,000     382,000     199,000
  Minority Interest                             35,000      37,000      44,000

Net Income from Continuing Op.s              2,146,000   2,986,000   1,919,000

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                 2,145,000   2,985,000   1,916,000
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares            2,145,000   2,985,000   1,916,000



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2018    12/31/2017    12/31/2016

  Net Income                             2,146,000     2,986,000     1,919,000

Operating Activities:
  Depreciation                                   0       914,000             0
  Adjustments to Net Income                      0    -1,042,000             0
  Changes in Accounts Recv'bls                   0      -231,000             0
  Changes in Liabilities                         0       388,000             0
  Changes in Investories                         0      -202,000             0
  Changes in other Oper'g Acts                   0      -142,000             0

Total Cash Flow f Operations                     0     2,666,000             0

Investing Activities:
  Capital Exenditures                            0      -520,000             0
  Investments                                    0      -298,000             0
  Other Cash Flows fr Investing                  0        -6,000             0

Total Cash Flows from Investing                  0      -217,000             0

Financing Activities:
  Dividends Paid                                 0    -1,068,000             0
  Sale of Purchase of Stock                      0             0             0
  Net Borrowings                                 0      -554,000             0
  Other Cash Flows fr Financing                  0       -14,000             0

Total Cash Flows from Financing                  0    -2,442,000             0

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.               -28,000       -42,000             0



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2018    12/31/2017    12/31/2016
Current Assets:
  Cash & Cash Equivalents                   283,000       561,000       543,000
  Short Term Investments                    157,000       534,000       203,000
  Net Receivables                         3,858,000     3,943,000     3,560,000
  Inventory                               2,785,000     2,620,000     2,346,000
  Other Current Assets                            0        47,000             0
  Total Current Assets                    7,397,000     7,171,000     6,449,000

  Long-Term Investments                           0        41,000             0
  Property, Plant & Equipt                3,467,000     3,502,000     3,443,000
  Goodwill                               13,328,000    13,568,000    13,201,000
  Intangible Assets                       4,846,000     5,265,000     5,514,000
  Accumulated Amortization                        0             0             0
  Other Assets                            1,861,000     1,910,000     1,201,000
  Deferred LT Asset Charges                 293,000       253,000       325,000

Total Assets                             31,092,000    32,623,000    30,476,000

Current Liabilities:
  Accounts Payable                        2,130,000     2,166,000     1,718,000
  Current Portion LT Debt                   339,000       578,000     1,552,000
  Other Current Liabilities               1,814,000     1,801,000     1,745,000
  Total Current Liabilities               5,154,000     5,075,000      5,485,000

  Long Term Debt                          6,768,000     7,184,000     6,720,000
  Other Liabilities                       3,028,000     3,074,000     3,273,000
  Deferred LT Liab. Charges                       0             0             0
  Minority Interest                          35,000        37,000        44,000
  Negative Goodwill                               0             0             0

Total Liabilities                        14,950,000    15,333,000    15,478,000

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                           16,107,000         4,000         5,000
  Retained Earnings                               0     8,669,000             0
  Treasury Stock                                  0    -3,407,000             0
  Capital Surplus                                 0    11,987,000             0
  Other Stockhohlder Equity                       0    -3,407,000             0
  Total Stockholder Equity               16,107,000    17,253,000    14,954,000

Net Tangible Assets                      -2,067,000    -1,580,000    -3,761,000


Eaton Corporation plc (ETN)                 [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.7084          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate: -1.4205          Forward P/E Ratio < 28?    2.1807
Price/Sales Ratio < 2.3?   1.4286          Inventory/Sales < 5%?      0.3880
Sales < $1 Billion?        0.0463          Operating Margin < 7.5%?   0.5462

Balance Sheet Tests:
Debt/Equity < 0.40?        0.8586          Long-Term Debt Service:    2.3850
LTD Being Reduced?         0.0000          Short-Term Debt Service:  -3.0000
Current Ratio > 2?         0.7176          Working Capital >= 1.5?    1.0591
Leverage Ratio < 20%?      0.2186          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.1494
Share Equity Increase:     2.0873          Market Cap.< 1.5 Billion?  0.0430
                                           Intangibles < 3% Assets?   0.0513
Income Tests:
Profit Margin < 7.5%?      1.3240          EPS Annual Growth > 10%?   0.1392
Dividend Yield > 2.0%?     0.6135          EPS 3-yr Growth > 15?      0.1340
Enterprise Value/Revenue   1.6146          EPS Growth Consistent?     0.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.6905
EPS Qrtly Growth > 10%?   -0.0769          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%? -1.4985
Stock Performance Tests:
Volatility > 25%?          1.1178          % Held by Insiders < 5%?   3.0000
Beta > 1.25?               0.0000          % Held by Institut. < 50?  0.6310
50 Da MA > 200 Da MA?     -0.0934          % Held by Institut. > 30?  2.6413
52-Wk Change vs. S&P 500:  0.0891          Short Ratio > 5?           0.5680
Price/Book Value < 3?      1.3891          Short % of Float > 20?     0.0965
Return on Assets > 17%?    0.3424          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  3.0000          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  2.1371
                                           Cash Flow / Assets > 10%?  1.7127

ETN    Eaton Corporation plc               Overall Zenith Index:      1.0419


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Financial Statements

EATON CORP PLC  (ETN)                       INCOME STATEMENT

Fiscal year ends in December. USD in thousan         2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Revenue                                           22,046,000      22,552,000      20,855,000      19,747,000      20,404,000      21,363,000
Cost of revenue                                   15,369,000      15,646,000      14,292,000      13,400,000      13,756,000      14,376,000
Gross profit                                       6,677,000       6,906,000       6,563,000       6,347,000       6,648,000       6,987,000


Operating expenses
Research and development                             644,000         647,000         625,000         589,000         584,000         583,000
Sales, General and administrative                  3,886,000       3,810,000       3,596,000       3,505,000       3,565,000       3,575,000
Total operating expenses                           4,530,000       4,457,000       4,221,000       4,094,000       4,149,000       4,158,000

Operating income                                   2,147,000       2,449,000       2,342,000       2,253,000       2,499,000       2,829,000
Other income (expense)                              -263,000        -688,000        -197,000        -126,000         869,000        -496,000
Income before taxes                                1,884,000       1,761,000       2,145,000       2,127,000       3,368,000       2,333,000
Provision for income taxes                            11,000         -42,000         164,000         202,000         382,000         185,000
Net income from continuing operations              1,873,000       1,803,000       1,981,000       1,925,000       2,986,000       2,148,000
Other                                                -12,000         -10,000          -2,000          -3,000          -1,000               0
Net income                                         1,861,000       1,793,000       1,979,000       1,922,000       2,985,000       2,148,000
Net income available to common shareholders        1,861,000       1,793,000       1,979,000       1,922,000       2,985,000       2,148,000

Earnings per share
Basic                                                   3.93            3.78            4.25            4.22            6.71            4.91 
Diluted                                                 3.90            3.76            4.23            4.21            6.68            4.89 

Weighted average shares outstanding
Basic                                                473,500         474,100         465,500         455,000         444,500         436,925
Diluted                                              476,700         476,800         467,100         456,500         447,000         439,575

____________________________________________________________________________________________________________________________________________


EATON CORP PLC  (ETN)                       BALANCE SHEET

Fiscal year ends in December. USD in thousan         2013-12         2014-12         2015-12         2016-12         2017-12             

Assets

Current assets

Cash

Short-term investments                               794,000         245,000         177,000         203,000         534,000
Total cash                                         1,709,000       1,026,000         445,000         746,000       1,095,000

Receivables                                        3,648,000       3,667,000       3,479,000       3,560,000       3,943,000
Inventories                                        2,382,000       2,428,000       2,323,000       2,254,000       2,620,000
Deferred income taxes                                577,000         593,000               0               0               0
Prepaid expenses                                     415,000         386,000         369,000         381,000         679,000
Total current assets                               8,731,000       8,100,000       6,616,000       6,941,000       8,337,000

Non-current assets

Property, plant and equipment
Gross property, plant and equipment                7,965,000       7,964,000       7,884,000       8,039,000       8,505,000
Accumulated Depreciation                          -4,132,000      -4,214,000      -4,319,000      -4,596,000      -5,003,000
Net property, plant and equipment                  3,833,000       3,750,000       3,565,000       3,443,000       3,502,000

Goodwill                                          14,495,000      13,893,000      13,479,000      13,201,000      13,568,000
Intangible assets                                  7,186,000       6,556,000       6,014,000       5,514,000       5,265,000
Deferred income taxes                                240,000         228,000         362,000         360,000         253,000
Other long-term assets                             1,006,000       1,002,000         995,000         960,000       1,698,000
Total non-current assets                          26,760,000      25,429,000      24,415,000      23,478,000      24,286,000

Total assets                                      35,491,000      33,529,000      31,031,000      30,419,000      32,623,000 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                      580,000       1,010,000         668,000       1,566,000         584,000
Accounts payable                                   1,960,000       1,940,000       1,758,000       1,718,000       2,166,000
Other current liabilities                          2,374,000       2,405,000       2,199,000       2,201,000       2,325,000
Total current liabilities                          4,914,000       5,355,000       4,625,000       5,485,000       5,075,000

Non-current liabilities
Long-term debt                                     8,969,000       8,024,000       7,781,000       6,711,000       7,167,000
Deferred taxes liabilities                         1,313,000         901,000         390,000         321,000         538,000
Pensions and other benefits                        2,133,000       2,325,000       2,026,000       2,027,000       1,588,000
Minority interest                                     72,000          53,000          45,000          44,000          37,000
Other long-term liabilities                        1,299,000       1,085,000         978,000         934,000         965,000
Total non-current liabilities                     13,786,000      12,388,000      11,220,000      10,037,000      10,295,000

Total liabilities                                 18,700,000      17,743,000      15,845,000      15,522,000      15,370,000 

Stockholders' equity

Common stock                                           5,000           5,000           5,000           5,000           4,000
Additional paid-in capital                        11,483,000      11,605,000      11,701,000      11,845,000      11,987,000
Retained earnings                                  6,866,000       7,078,000       7,346,000       7,498,000       8,669,000
Accumulated other comprehensive income            -1,563,000      -2,902,000      -3,866,000      -4,451,000      -3,407,000
Total stockholders' equity                        16,791,000      15,786,000      15,186,000      14,897,000      17,253,000
Total liabilities and stockholders' equity        35,491,000      33,529,000      31,031,000      30,419,000      32,623,000

____________________________________________________________________________________________________________________________________________


EATON CORP PLC  (ETN)                       Statement of CASH FLOW

Fiscal year ends in December. USD in thousan         2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Cash Flows From Operating Activities
Net income                                         1,873,000       1,803,000       1,981,000       1,925,000       2,986,000       2,148,000
Depreciation & amortization                          997,000         983,000         925,000         929,000         914,000         909,000
Deferred income taxes                               -311,000        -382,000        -100,000         -80,000        -206,000        -239,000
Change in working capital                           -324,000        -332,000        -241,000        -178,000        -191,000          23,000
Accounts receivable                                 -231,000        -205,000           5,000        -170,000        -231,000               0
Inventory                                            -92,000        -152,000         -20,000          25,000        -202,000               0
Accounts payable                                      86,000          49,000        -120,000               0         388,000               0
Other working capital                                -87,000         -24,000        -106,000         -33,000        -146,000          23,000
Other non-cash items                                  50,000        -194,000        -194,000         -44,000        -837,000        -124,000
Net cash provided by operating activities          2,285,000       1,878,000       2,371,000       2,552,000       2,666,000       2,717,000

Cash Flows From Investing Activities
Investments in property, plant, and equipmen        -614,000        -632,000        -506,000        -497,000        -520,000        -580,000
Acquisitions, net                                    768,000         284,000         -71,000           1,000         607,000           7,000
Other investing activities                          -356,000         491,000           2,000         -33,000        -304,000         535,000
Net cash used for investing activities              -202,000         143,000        -575,000        -529,000        -217,000         -38,000

Cash Flows From Financing Activities
Debt issued                                            9,000               0         425,000         631,000       1,000,000          80,000
Debt repayment                                    -1,096,000        -582,000      -1,027,000        -653,000      -1,554,000      -1,487,000
Common stock repurchased                                   0               0        -682,000        -730,000        -850,000        -661,000
Excess tax benefit from stock based compe             32,000          20,000           1,000           1,000               0               0
Dividend paid                                       -796,000        -929,000      -1,026,000      -1,037,000      -1,068,000      -1,129,000
Other financing activities                           115,000        -639,000          42,000          68,000          30,000           2,000
Net cash provided by (used for) financing         -1,736,000      -2,130,000      -2,267,000      -1,720,000      -2,442,000      -3,195,000

Effect of exchange rate changes                       -9,000         -25,000         -42,000         -28,000          11,000          52,000
Net change in cash                                   338,000        -134,000        -513,000         275,000          18,000        -464,000
Cash at beginning of period                          577,000         915,000         781,000         268,000         543,000         791,000
Cash at end of period                                915,000         781,000         268,000         543,000         561,000         327,000

Free Cash Flow
Operating cash flow                                2,285,000       1,878,000       2,371,000       2,552,000       2,666,000       2,717,000
Capital expenditure                                 -614,000        -632,000        -506,000        -497,000        -520,000        -580,000
Free cash flow                                     1,671,000       1,246,000       1,865,000       2,055,000       2,146,000       2,137,000
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (ETN)     Eaton Corp. PLC

                               2014    2015    2016    2017    2018

          Annual Earnings:     3.76    4.24    4.20    6.68    4.91
Average Price During Year:    72.12   63.33   61.01   74.88   79.63

                P/E Ratio:    19.18   14.94   14.53   11.21   16.22

 Average 5-Year P/E Ratio  =  15.21
             Current Price =  79.77

Previous 5 Quarter Earnings:   1.43    1.10    1.39    0.95    1.46

          Current Annualized (Last Four Quarters) Earnings =   3.80
                                                           ________
                                 Average PE / Current PE =     0.72
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Analysts' Opinion 4
Analysts' Opinion 5
Analysts' Opinion 6
Analysts' Opinion 7



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for EATON CORPORATION:
Symbol? ETN
Total Months Available:  25
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  83.24   71.62     89.46   73.24     81.51   64.46

RANGE   =  89.46  TO   64.46            Close =  80.64
CHANNEL =  81.51  TO   73.24           Degree =   3
Volatility =  10.26%                    Index =   3
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

3 out of 8 favorable, (negative opinion.)

Val Idea
Val Idea


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Stock Consultant

Stock Consultant Stock Consultant


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Point & Figure Chart

P & F Chart


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Wall Street Analyzer



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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

2 out of 3 of the ultimate systems favor a downmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison + 1
Industry - 1
Bond Issue + 1
Zenith Index - 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow - 1
Average to Current P/E - 1
Ratios + 1
Intrinsic Value DCF - 1
Fair Value Estimator + 1
Projected Earnings + 1
Research Reports - 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting + 1
Short Interest + 1
Sentiment + 1
Standard & Poor's - 1
MACD Histogram Divergence - 1
Val Idea - 1
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems - 1
Total - 3
Place 375 shares of Eaton Corporation (ETN) on the Active List.