NEW YORK (TheStreet) -- Shares of Eaton Corp. (ETN) are up 2.27% to $79.32 after it agreed to pay ZF Meritor $500 million to settle an antitrust lawsuit ahead of a trial to determine damages in the case.
ZF Meritor is a joint venture between a Meritor (MTOR) subsidiary and ZF Friedrichshafen AG.
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Separately, TheStreet Ratings team rates EATON CORP PLC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate EATON CORP PLC (ETN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: