This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK (
Cooper Industries(CBE) was the best-performing stock in the
S&P 500 intraday Monday.
The S&P 500 was rising 8.5 points, or 0.66%, to 1,303.81.
Shares of Cooper Industries rose 26.15% to $70.44.
Eaton(ETN) announced Monday it reached an agreement to buy Cooper for $11.8 billion, making it the
biggest U.S. acquisition so far in 2012.
Shares of Cooper hit a 52-week high Monday of $71.37. The stock's 52-week low of $41.16 was set on Aug. 23.
Cooper trades at an estimated price-to-earnings ratio for next year of 14.22 times; the average for electrical components companies is 12.4. For comparison,
Avnet(AVT) has a lower forward P/E of 6.48.
Eleven of the 21 analysts who cover Cooper Industries rated it buy; 10 analysts gave the stock a hold rating.
The stock has risen 29.31% year to date.