Eaton Reports Stronger-than-Expected Sales Growth in the First Quarter; Raising FVE
We’re raising Eaton’s fair value estimate to $74 from $72 per share as organic revenue growth came roaring back in the quarter, with the company’s hydraulics segment, in particular, surprising to the upside. Eaton’s consolidated revenue reached about $4.85 billion in the quarter, reflecting 2% of year-over-year organic revenue growth, a welcome change after seven consecutive quarters of decline. The hydraulics segment led the quarter, growing sales by 9% organically, after more than two years of...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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