Wall Street analysts expect Eaton Corporation, PLC (NYSE:ETN) to announce $5.09 billion in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Eaton’s earnings, with the highest sales estimate coming in at $5.16 billion and the lowest estimate coming in at $5.04 billion. Eaton posted sales of $4.87 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.5%. The company is scheduled to issue its next earnings results on Thursday, February 1st.

On average, analysts expect that Eaton will report full year sales of $5.09 billion for the current fiscal year, with estimates ranging from $20.23 billion to $20.35 billion. For the next financial year, analysts anticipate that the business will report sales of $21.04 billion per share, with estimates ranging from $20.78 billion to $21.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Eaton.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.25. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.12 billion. Eaton had a return on equity of 12.89% and a net margin of 14.21%. Eaton’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share.

ETN has been the subject of a number of research reports. Citigroup boosted their price target on Eaton from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Eaton in a report on Wednesday, November 1st. ValuEngine raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Buckingham Research started coverage on shares of Eaton in a research note on Tuesday, October 17th. They issued a “neutral” rating and a $82.00 price objective for the company. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $80.00 price objective on shares of Eaton in a research note on Monday, December 11th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $83.43.

Shares of Eaton (ETN) traded up $2.75 during midday trading on Wednesday, hitting $81.61. The company had a trading volume of 3,520,190 shares, compared to its average volume of 3,030,400. The company has a quick ratio of 1.02, a current ratio of 1.43 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $34,750.00, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. Eaton has a 12-month low of $66.60 and a 12-month high of $82.34.

In other news, insider Revathi Advaithi sold 23,743 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the sale, the insider now directly owns 31,028 shares of the company’s stock, valued at $2,431,354.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $77.50, for a total transaction of $775,000.00. Following the sale, the insider now directly owns 16,571 shares in the company, valued at $1,284,252.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,938 shares of company stock worth $4,597,529. Insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group grew its holdings in shares of Eaton by 24.4% during the second quarter. Schroder Investment Management Group now owns 3,262,517 shares of the industrial products company’s stock valued at $250,007,000 after buying an additional 640,198 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Eaton by 0.4% during the third quarter. Rhumbline Advisers now owns 779,539 shares of the industrial products company’s stock valued at $59,861,000 after buying an additional 3,338 shares during the last quarter. PGGM Investments grew its holdings in shares of Eaton by 142.1% during the third quarter. PGGM Investments now owns 703,839 shares of the industrial products company’s stock valued at $54,048,000 after buying an additional 413,096 shares during the last quarter. Davis Selected Advisers grew its holdings in shares of Eaton by 4.1% during the second quarter. Davis Selected Advisers now owns 533,228 shares of the industrial products company’s stock valued at $41,501,000 after buying an additional 21,036 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of Eaton by 3.0% during the third quarter. Nationwide Fund Advisors now owns 466,338 shares of the industrial products company’s stock valued at $35,810,000 after buying an additional 13,419 shares during the last quarter. 76.51% of the stock is currently owned by hedge funds and other institutional investors.

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About Eaton

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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