Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

EATON CORPORATION PLC

(ETN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Eaton Corp. Agrees to Divest Assets as Part of Hydraulics Business Sale

07/14/2021 | 03:25pm EDT

By Stephen Nakrosis

Eaton Corp PLC on Wednesday said both it and Danfoss A/S have agreed to a proposed settlement with the U.S. Department of Justice pertaining to the sale of Eaton's hydraulics business to Danfoss.

The department said it will require both Danfoss and Eaton divest assets from their respective orbital motor and hydraulic steering unit manufacturing businesses to proceed with the proposed deal.

"Without these divestitures, the transaction would substantially lessen competition in the design, manufacture, and sale of orbital motors and hydraulic steering units used in agricultural, industrial and construction equipment in the United States," the department said.

The proposed settlement calls for the companies to divest three Danfoss facilities and two Eaton to Interpump Group S.p.A., or to an alternate company approved by the U.S.

Eaton said the divestitures didn't have to take place prior to the completion of the deal.

Eaton also said the "European Commission approved Interpump as a suitable purchaser of the orbital motor and steering assets."

The sale is expected to close in the next several weeks, Eaton said.

-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

07-14-21 1725ET

All news about EATON CORPORATION PLC
09/23Eaton Introduces Zero-Leak Compact Combo Valve to Manage Harmful Fuel Vapors and Meet U..
CI
09/23EATON : introduces new zero-leak Compact Combo Valve to manage harmful fuel vapors and mee..
PU
09/17EATON : to Participate in the BofA Securities 2021 Industrial Software & Automation Summit..
BU
09/15Eaton Corporation to Seek Acquisitions
CI
09/15EATON TO PARTICIPATE IN THE 2021 CAT : Embrace a new global economy
PU
09/14EATON : HSBC Downgrades Eaton to Hold from Buy, Lowers Price Target to $153 From $160
MT
09/14Today on Wall Street: Core inflation is lower than expected
09/14ANALYST RECOMMENDATIONS : Apple, Bank of America, Cisco, DT Midstream, Halliburton...
09/10EATON : Goldman Sachs Adjusts Eaton's Price Target to $186 from $182, Keeps Buy Rating
MT
09/08EATON : Vehicle Group partners with Ballard Fuel Cell Systems and National Renewable Energ..
PU
More news
Analyst Recommendations on EATON CORPORATION PLC
More recommendations
Financials (USD)
Sales 2021 20 161 M - -
Net income 2021 2 121 M - -
Net Debt 2021 9 336 M - -
P/E ratio 2021 29,3x
Yield 2021 1,97%
Capitalization 62 214 M 62 214 M -
EV / Sales 2021 3,55x
EV / Sales 2022 3,45x
Nbr of Employees 85 000
Free-Float 99,8%
Chart EATON CORPORATION PLC
Duration : Period :
Eaton Corporation plc Technical Analysis Chart | ETN | IE00B8KQN827 | MarketScreener
Technical analysis trends EATON CORPORATION PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 156,01 $
Average target price 175,35 $
Spread / Average Target 12,4%
EPS Revisions
Managers and Directors
Craig Arnold Chairman & Chief Executive Officer
Thomas Bernard Okray Chief Financial Officer & Executive Vice President
Raja Ramana Macha Chief Technology Officer & Executive VP
Katrina R. Redmond Chief Information Officer & Senior Vice President
Joe Rodgers Senior Vice President-Ethics & Compliance
Sector and Competitors
1st jan.Capi. (M$)
EATON CORPORATION PLC29.86%62 214
KEYENCE CORPORATION22.41%155 536
SCHNEIDER ELECTRIC SE26.68%97 533
NIDEC CORPORATION1.96%69 975
EMERSON ELECTRIC CO.19.83%57 574
ROCKWELL AUTOMATION, INC.20.64%35 106