Eaton Co. PLC (NYSE:ETN) – Analysts at Jefferies Financial Group lifted their FY2019 EPS estimates for Eaton in a research note issued to investors on Tuesday, October 30th. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $6.00 for the year, up from their previous forecast of $5.95. Jefferies Financial Group also issued estimates for Eaton’s FY2020 earnings at $6.65 EPS.
Several other analysts also recently weighed in on the stock. Citigroup reduced their price objective on shares of Eaton from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Friday. Barclays restated an “underweight” rating and set a $75.00 price objective (down previously from $77.00) on shares of Eaton in a research report on Thursday. Credit Suisse Group reduced their price target on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group set a $97.00 price target on shares of Eaton and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on shares of Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. Eaton has an average rating of “Buy” and a consensus target price of $86.12.
Shares of NYSE:ETN opened at $73.24 on Friday. The company has a market cap of $31.06 billion, a PE ratio of 13.76, a P/E/G ratio of 1.30 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. Eaton has a twelve month low of $67.70 and a twelve month high of $89.85.
Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a $0.66 dividend. The ex-dividend date is Thursday, November 1st. This represents a $2.64 annualized dividend and a yield of 3.60%. Eaton’s dividend payout ratio (DPR) is 56.77%.
In other Eaton news, insider Richard H. Fearon sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $83.29, for a total value of $2,082,250.00. Following the transaction, the insider now directly owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Revathi Advaithi sold 15,500 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $82.98, for a total transaction of $1,286,190.00. Following the completion of the transaction, the insider now directly owns 24,715 shares in the company, valued at $2,050,850.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,000 shares of company stock valued at $4,617,645. 0.50% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ETN. Financial Architects Inc increased its stake in Eaton by 2,675.0% in the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,177 shares during the period. Reilly Financial Advisors LLC increased its stake in Eaton by 145.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock valued at $110,000 after buying an additional 750 shares during the period. Zions Bancorporation acquired a new position in Eaton in the 2nd quarter valued at $113,000. Fort L.P. acquired a new position in Eaton in the 2nd quarter valued at $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Eaton in the 2nd quarter valued at $123,000. 77.79% of the stock is currently owned by institutional investors.
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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