Equities analysts expect that Eaton Co. PLC (NYSE:ETN) will post $5.40 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Eaton’s earnings, with the lowest sales estimate coming in at $5.35 billion and the highest estimate coming in at $5.46 billion. Eaton posted sales of $5.25 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 7th.
According to Zacks, analysts expect that Eaton will report full-year sales of $22.41 billion for the current year, with estimates ranging from $22.28 billion to $22.56 billion. For the next year, analysts anticipate that the firm will post sales of $22.80 billion, with estimates ranging from $21.57 billion to $23.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Eaton.
Eaton (NYSE:ETN) last posted its earnings results on Thursday, January 31st. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. Eaton had a net margin of 9.93% and a return on equity of 14.06%. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.42 billion.
A number of brokerages have recently issued reports on ETN. Wells Fargo & Co boosted their price target on shares of Eaton from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Vertical Research upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research report on Monday, March 4th. Morgan Stanley set a $82.00 price target on shares of Eaton and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Robert W. Baird set a $89.00 price target on shares of Eaton and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Finally, Stephens began coverage on shares of Eaton in a research note on Monday, November 19th. They issued an “overweight” rating and a $96.00 price objective for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $86.38.
In other Eaton news, insider Heath B. Monesmith sold 7,167 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $81.25, for a total transaction of $582,318.75. Following the completion of the sale, the insider now owns 26,344 shares in the company, valued at approximately $2,140,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis J. Hutchins sold 37,625 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $76.02, for a total transaction of $2,860,252.50. Following the sale, the insider now owns 15,872 shares of the company’s stock, valued at approximately $1,206,589.44. The disclosure for this sale can be found here. Insiders have sold a total of 73,214 shares of company stock valued at $5,709,455 in the last 90 days. 0.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ETN. Robeco Institutional Asset Management B.V. grew its stake in shares of Eaton by 19.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 383,890 shares of the industrial products company’s stock worth $33,298,000 after acquiring an additional 61,489 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Eaton by 7.8% in the 3rd quarter. Victory Capital Management Inc. now owns 531,957 shares of the industrial products company’s stock worth $46,137,000 after acquiring an additional 38,321 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in shares of Eaton in the 3rd quarter worth $440,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Eaton by 6.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,892 shares of the industrial products company’s stock worth $2,332,000 after acquiring an additional 1,611 shares in the last quarter. Finally, HL Financial Services LLC grew its stake in shares of Eaton by 22.2% in the 3rd quarter. HL Financial Services LLC now owns 16,506 shares of the industrial products company’s stock worth $1,432,000 after acquiring an additional 2,998 shares in the last quarter. Hedge funds and other institutional investors own 74.88% of the company’s stock.
Shares of NYSE ETN traded down $0.41 during midday trading on Friday, reaching $80.58. The stock had a trading volume of 4,940,006 shares, compared to its average volume of 2,808,326. The company has a market capitalization of $34.31 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.48 and a beta of 1.48. Eaton has a twelve month low of $64.46 and a twelve month high of $89.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.47.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Saturday, March 9th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.84 dividend on an annualized basis and a yield of 3.52%. Eaton’s dividend payout ratio (DPR) is presently 52.69%.
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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