Posted by admin on May 28th, 2022

Analysts expect Eaton Co. plc (NYSE:ETN – Get Rating) to announce $5.22 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Eaton’s earnings, with the highest sales estimate coming in at $5.32 billion and the lowest estimate coming in at $5.06 billion. Eaton also posted sales of $5.22 billion during the same quarter last year. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Eaton will report full year sales of $20.64 billion for the current fiscal year, with estimates ranging from $20.54 billion to $20.77 billion. For the next year, analysts forecast that the company will post sales of $21.97 billion, with estimates ranging from $21.82 billion to $22.06 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Eaton.

Eaton (NYSE:ETN – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share.

ETN has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Eaton from $150.00 to $155.00 in a research note on Tuesday, May 3rd. StockNews.com raised Eaton from a “hold” rating to a “buy” rating in a research note on Friday, May 20th. Mizuho reduced their target price on Eaton from $195.00 to $185.00 in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. Finally, Morgan Stanley raised their price objective on Eaton to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton currently has a consensus rating of “Buy” and a consensus target price of $171.80.

ETN opened at $139.82 on Friday. The stock has a market cap of $55.79 billion, a PE ratio of 25.28, a P/E/G ratio of 1.65 and a beta of 1.15. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. Eaton has a 52 week low of $130.43 and a 52 week high of $175.72. The business’s fifty day simple moving average is $145.22 and its 200 day simple moving average is $156.21.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were issued a dividend of $0.81 per share. The ex-dividend date was Thursday, May 12th. This represents a $3.24 annualized dividend and a dividend yield of 2.32%. Eaton’s payout ratio is 58.59%.

In other news, insider Joao V. Faria sold 11,852 shares of Eaton stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total transaction of $1,777,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Joseph Group Capital Management bought a new stake in shares of Eaton during the fourth quarter valued at approximately $1,403,000. Financial Management Professionals Inc. increased its position in shares of Eaton by 288.6% during the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Arlington Partners LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $31,000. Bell Investment Advisors Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $27,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Eaton during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.10% of the company’s stock.

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.

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