Eaton Co. (ETN) Expected to Post Quarterly Sales of $5.09 Billion

Brokerages expect Eaton Co. (NYSE:ETN) to post $5.09 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Eaton’s earnings. The highest sales estimate is $5.15 billion and the lowest is $5.06 billion. Eaton posted sales of $4.85 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, May 1st.

According to Zacks, analysts expect that Eaton will report full year sales of $21.33 billion for the current year, with estimates ranging from $21.18 billion to $21.50 billion. For the next year, analysts anticipate that the business will report sales of $22.10 billion per share, with estimates ranging from $21.76 billion to $22.33 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Eaton.

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Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS.

ETN has been the subject of several analyst reports. Zacks Investment Research lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Saturday, April 7th. UBS initiated coverage on shares of Eaton in a report on Tuesday, January 23rd. They set a “neutral” rating and a $87.00 price target for the company. JPMorgan Chase upgraded shares of Eaton from an “underweight” rating to a “neutral” rating and set a $82.00 price target for the company in a report on Thursday, March 1st. Finally, Bank of America upgraded shares of Eaton from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $81.03 to $85.00 in a report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.73.

In other news, insider Ken D. Semelsberger sold 15,595 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $82.67, for a total transaction of $1,289,238.65. Following the completion of the sale, the insider now owns 104,613 shares of the company’s stock, valued at approximately $8,648,356.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah L. Mccoy sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $82.23, for a total transaction of $328,920.00. Following the sale, the director now directly owns 35,936 shares of the company’s stock, valued at approximately $2,955,017.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,769 shares of company stock valued at $2,083,823. Insiders own 0.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in ETN. Fieldpoint Private Securities LLC acquired a new stake in shares of Eaton during the 3rd quarter worth approximately $130,000. Atlantic Trust Group LLC grew its position in shares of Eaton by 39.4% during the 3rd quarter. Atlantic Trust Group LLC now owns 55,814 shares of the industrial products company’s stock worth $4,287,000 after buying an additional 15,761 shares during the period. First Financial Bank Trust Division acquired a new stake in shares of Eaton during the 4th quarter worth approximately $2,576,000. Bogart Wealth LLC grew its position in shares of Eaton by 7.6% during the 4th quarter. Bogart Wealth LLC now owns 20,448 shares of the industrial products company’s stock worth $1,616,000 after buying an additional 1,440 shares during the period. Finally, Sawyer & Company Inc acquired a new stake in Eaton in the 4th quarter valued at $1,436,000. 78.90% of the stock is owned by institutional investors.

Shares of NYSE ETN opened at $77.26 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.13. Eaton has a 1 year low of $69.82 and a 1 year high of $89.85. The company has a market capitalization of $34,089.09, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Monday, March 12th were given a dividend of $0.66 per share. This is an increase from Eaton’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, March 9th. This represents a $2.64 annualized dividend and a dividend yield of 3.42%. Eaton’s dividend payout ratio (DPR) is 56.77%.

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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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Earnings History and Estimates for Eaton (NYSE:ETN)

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