Zacks Research Research Analysts Lift Earnings Estimates for Eaton Co. plc (NYSE:ETN)

Eaton Co. plc (NYSE:ETN) – Investment analysts at Zacks Research increased their FY2024 earnings estimates for shares of Eaton in a research note issued to investors on Monday, September 16th. Zacks Research analyst J. Saha now anticipates that the industrial products company will post earnings per share of $10.70 for the year, up from their previous forecast of $10.65. The consensus estimate for Eaton’s current full-year earnings is $10.74 per share. Zacks Research also issued estimates for Eaton’s Q1 2025 earnings at $2.72 EPS, Q2 2025 earnings at $3.08 EPS, Q3 2025 earnings at $3.15 EPS, Q4 2025 earnings at $3.11 EPS and FY2025 earnings at $12.06 EPS.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%.

Other equities analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Evercore ISI lowered their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Barclays boosted their price target on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Citigroup started coverage on shares of Eaton in a report on Monday, September 16th. They issued a “buy” rating and a $348.00 price target on the stock. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Trading Up 0.5 %

Eaton stock opened at $330.59 on Thursday. The stock has a market cap of $132.17 billion, a P/E ratio of 39.03, a PEG ratio of 2.28 and a beta of 1.01. Eaton has a fifty-two week low of $191.82 and a fifty-two week high of $345.19. The firm’s fifty day moving average price is $299.93 and its 200-day moving average price is $312.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after purchasing an additional 2,439,270 shares in the last quarter. Jennison Associates LLC lifted its position in Eaton by 2,857.4% during the 1st quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after acquiring an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. grew its holdings in Eaton by 2,006.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares during the period. Swedbank AB purchased a new position in shares of Eaton during the second quarter valued at approximately $225,974,000. Finally, Artisan Partners Limited Partnership grew its stake in shares of Eaton by 207.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after buying an additional 654,855 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the transaction, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately $149,485. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.