Equities analysts forecast that Eaton Co. PLC (NYSE:ETN) will post $5.42 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Eaton’s earnings, with the highest sales estimate coming in at $5.47 billion and the lowest estimate coming in at $5.40 billion. Eaton reported sales of $5.21 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4%. The business is expected to issue its next quarterly earnings results on Thursday, February 7th.
On average, analysts expect that Eaton will report full year sales of $21.60 billion for the current fiscal year, with estimates ranging from $21.55 billion to $21.68 billion. For the next year, analysts anticipate that the business will report sales of $22.51 billion, with estimates ranging from $22.33 billion to $22.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Eaton.
Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the business earned $1.25 EPS. Eaton’s quarterly revenue was up 3.9% on a year-over-year basis.
ETN has been the topic of a number of analyst reports. UBS Group set a $97.00 target price on shares of Eaton and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Deutsche Bank increased their target price on shares of Eaton from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, September 28th. Morgan Stanley initiated coverage on shares of Eaton in a research report on Monday, August 20th. They set an “equal weight” rating and a $86.00 target price on the stock. Credit Suisse Group initiated coverage on shares of Eaton in a research report on Friday, October 12th. They set an “outperform” rating and a $91.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Eaton from a “neutral” rating to an “overweight” rating and set a $92.00 target price on the stock in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $86.67.
In other news, insider Ken D. Semelsberger sold 11,500 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $86.57, for a total transaction of $995,555.00. Following the completion of the sale, the insider now owns 78,883 shares of the company’s stock, valued at approximately $6,828,901.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group lifted its holdings in shares of Eaton by 361.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 3,062 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 2,399 shares during the period. Marshall Wace North America L.P. lifted its holdings in shares of Eaton by 1,180.4% during the 3rd quarter. Marshall Wace North America L.P. now owns 58,898 shares of the industrial products company’s stock worth $5,109,000 after acquiring an additional 54,298 shares during the period. Marshall Wace LLP bought a new stake in shares of Eaton during the 3rd quarter worth approximately $2,533,000. Strategic Wealth Partners Ltd. lifted its holdings in shares of Eaton by 14.3% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 12,261 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 1,538 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in shares of Eaton during the 3rd quarter worth approximately $573,000. 77.44% of the stock is owned by institutional investors.
Shares of NYSE:ETN opened at $71.25 on Friday. Eaton has a 12-month low of $67.70 and a 12-month high of $89.85. The company has a market cap of $32.50 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.37 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40.
The company also recently declared a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Friday, November 2nd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, November 1st. Eaton’s dividend payout ratio (DPR) is presently 56.77%.
Eaton Company Profile
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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