FY2017 Earnings Forecast for Eaton Corporation, PLC Issued By Oppenheimer Holdings (ETN)
Eaton Corporation, PLC (NYSE:ETN) – Analysts at Oppenheimer Holdings increased their FY2017 earnings per share (EPS) estimates for Eaton Corporation, PLC in a report released on Tuesday. Oppenheimer Holdings analyst C. Glynn now forecasts that the industrial products company will earn $4.61 per share for the year, up from their prior forecast of $4.60. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Eaton Corporation, PLC’s Q4 2017 earnings at $1.25 EPS, Q1 2018 earnings at $1.07 EPS, Q2 2018 earnings at $1.27 EPS, Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.31 EPS and FY2018 earnings at $5.00 EPS.
Eaton Corporation, PLC (NYSE:ETN) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting the consensus estimate of $1.25. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis.
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Credit Suisse Group restated an “outperform” rating and set a $92.00 price objective (up previously from $86.00) on shares of Eaton Corporation, PLC in a research report on Wednesday. Jefferies Group LLC raised their price objective on shares of Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday. Citigroup Inc. raised their price objective on shares of Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus restated a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a research report on Friday, July 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $82.64.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, November 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 3.00%. Eaton Corporation, PLC’s dividend payout ratio (DPR) is currently 37.68%.
In related news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $73.17, for a total transaction of $471,946.50. Following the completion of the transaction, the director now directly owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cable Hill Partners LLC lifted its position in Eaton Corporation, PLC by 174.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 867 shares during the period. Harfst & Associates Inc. purchased a new position in Eaton Corporation, PLC during the 1st quarter valued at about $109,000. Captrust Financial Advisors purchased a new position in Eaton Corporation, PLC during the 2nd quarter valued at about $133,000. Guardian Life Insurance Co. of America lifted its position in Eaton Corporation, PLC by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 12 shares during the period. Finally, Acrospire Investment Management LLC lifted its position in Eaton Corporation, PLC by 325.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 1,600 shares during the period. 76.03% of the stock is owned by institutional investors.
About Eaton Corporation, PLC
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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