Eaton Co. PLC (NYSE:ETN) – William Blair reduced their FY2018 earnings estimates for Eaton in a research note issued on Tuesday, October 30th. William Blair analyst N. Heymann now expects that the industrial products company will earn $5.35 per share for the year, down from their previous forecast of $5.40. William Blair also issued estimates for Eaton’s Q4 2018 earnings at $1.42 EPS and FY2019 earnings at $5.80 EPS.
Several other research firms have also weighed in on ETN. Morgan Stanley reduced their target price on shares of Eaton from $94.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Credit Suisse Group reduced their target price on shares of Eaton from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and lifted their target price for the company from $91.00 to $100.00 in a report on Friday, September 21st. Deutsche Bank reduced their target price on shares of Eaton from $102.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Eaton from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. Eaton presently has an average rating of “Buy” and a consensus target price of $86.12.
NYSE:ETN opened at $73.24 on Friday. 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 firm has a market cap of $31.74 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49. Eaton has a twelve month low of $67.70 and a twelve month high of $89.85.
Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.43. Eaton had a net margin of 10.06% and a return on equity of 13.48%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the company earned $1.25 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of ETN. Financial Architects Inc lifted its holdings 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 worth $106,000 after buying an additional 1,177 shares in the last quarter. Reilly Financial Advisors LLC increased its position in shares of Eaton by 145.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 750 shares during the last quarter. Zions Bancorporation bought a new stake in shares of Eaton in the 2nd quarter worth about $113,000. Fort L.P. bought a new stake in shares of Eaton in the 2nd quarter worth about $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Eaton in the 2nd quarter worth about $123,000. Hedge funds and other institutional investors own 77.79% of the company’s stock.
In other Eaton news, Director Deborah L. Mccoy sold 3,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $84.55, for a total value of $253,650.00. Following the transaction, the director now owns 32,936 shares in the company, valued at approximately $2,784,738.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ken D. Semelsberger sold 11,500 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $86.57, for a total transaction of $995,555.00. Following the completion of the transaction, the insider now owns 78,883 shares in the company, valued at approximately $6,828,901.31. The disclosure for this sale can be found here. Insiders sold a total of 55,000 shares of company stock worth $4,617,645 in the last quarter. 0.50% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be issued a $0.66 dividend. The ex-dividend date is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.60%. Eaton’s dividend payout ratio is currently 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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