Eaton Corporation, PLC to Post FY2018 Earnings of $4.95 Per Share, KeyCorp Forecasts (ETN)

Eaton Corporation, PLC (NYSE:ETN) – Investment analysts at KeyCorp decreased their FY2018 EPS estimates for shares of Eaton in a report issued on Thursday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will earn $4.95 per share for the year, down from their previous forecast of $5.10.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates of $1.25. The company had revenue of $5.21 billion for 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%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share.

Other research analysts have also issued reports about the company. Citigroup lifted their target price on Eaton from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Credit Suisse Group reaffirmed an “outperform” rating and set a $92.00 target price (up from $86.00) on shares of Eaton in a report on Wednesday, November 1st. Zacks Investment Research lowered Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Buckingham Research started coverage on Eaton in a report on Tuesday, October 17th. They set a “neutral” rating and a $82.00 target price on the stock. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Eaton in a report on Tuesday, October 31st. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Eaton presently has an average rating of “Hold” and an average target price of $83.43.

Shares of Eaton (ETN) traded up $0.39 on Monday, hitting $83.95. The stock had a trading volume of 3,215,000 shares, compared to its average volume of 2,513,623. The firm has a market capitalization of $36,990.00, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.43 and a quick ratio of 1.02. Eaton has a 52 week low of $66.98 and a 52 week high of $84.50.

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

Large investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC boosted its position in Eaton by 174.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 867 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Eaton during the 3rd quarter worth about $130,000. Harfst & Associates Inc. boosted its position in Eaton by 21.8% during the 2nd quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 322 shares during the period. Carroll Financial Associates Inc. boosted its position in Eaton by 113.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 2,805 shares of the industrial products company’s stock worth $221,000 after acquiring an additional 1,492 shares during the period. Finally, Wealthsource Partners LLC acquired a new stake in Eaton during the 2nd quarter worth about $226,000. Institutional investors and hedge funds own 76.53% of the company’s stock.

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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.

Earnings History and Estimates for Eaton (NYSE:ETN)

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