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Eaton Co. plc (NYSE:ETN - Get Rating) - Investment analysts at Oppenheimer lifted their FY2022 earnings per share (EPS) estimates for Eaton in a research note issued on Monday, August 8th. Oppenheimer analyst C. Glynn now forecasts that the industrial products company will post earnings per share of $7.55 for the year, up from their prior forecast of $7.50. The consensus estimate for Eaton's current full-year earnings is $7.57 per share. Oppenheimer also issued estimates for Eaton's FY2023 earnings at $8.35 EPS.
A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada boosted their price target on Eaton from $139.00 to $145.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 3rd. Mizuho lifted their price target on Eaton from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Eaton from $178.00 to $156.00 and set a "buy" rating for the company in a research note on Wednesday, July 13th. Credit Suisse Group lifted their price objective on shares of Eaton from $158.00 to $167.00 and gave the company an "outperform" rating in a report on Wednesday, August 3rd. Finally, UBS Group lowered their target price on shares of Eaton from $192.00 to $173.00 and set a "buy" rating on the stock in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.33.Eaton Stock Up 2.1 %
ETN traded up $3.05 on Wednesday, hitting $149.46. The company had a trading volume of 25,276 shares, compared to its average volume of 2,009,694. Eaton has a 12-month low of $122.50 and a 12-month high of $175.72. The stock has a market capitalization of $59.53 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.58 and a current ratio of 0.97. The stock has a fifty day moving average price of $134.85 and a 200-day moving average price of $143.79.
Eaton (NYSE:ETN - Get Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.05. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Eaton Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, August 11th. Eaton's dividend payout ratio (DPR) is presently 56.15%. Insider Transactions at Eaton
In other news, Director Deborah L. Mccoy sold 3,000 shares of the business's stock in a transaction on Friday, August 5th. The stock was sold at an average price of $148.72, for a total value of $446,160.00. Following the completion of the transaction, the director now directly owns 12,856 shares of the company's stock, valued at $1,911,944.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Deborah L. Mccoy sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $148.72, for a total transaction of $446,160.00. Following the completion of the transaction, the director now owns 12,856 shares of the company's stock, valued at $1,911,944.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Boise April Miller sold 12,283 shares of the firm's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $138.66, for a total value of $1,703,160.78. Following the completion of the transaction, the insider now owns 11,435 shares in the company, valued at $1,585,577.10. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock. Institutional Trading of Eaton
Institutional investors and hedge funds have recently modified their holdings of the business. WFA of San Diego LLC acquired a new stake in Eaton in the second quarter worth about $25,000. Financial Management Professionals Inc. boosted its holdings 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 worth $26,000 after purchasing an additional 127 shares during the period. MV Capital Management Inc. lifted its position in Eaton by 105.0% in the 2nd quarter. MV Capital Management Inc. now owns 207 shares of the industrial products company's stock worth $26,000 after buying an additional 106 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of Eaton in the first quarter worth $30,000. Finally, Steward Financial Group LLC purchased a new position in Eaton in the first quarter valued at about $32,000. 79.10% of the stock is owned by institutional investors and hedge funds. About Eaton (Get Rating)
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.Further ReadingGet a free copy of the StockNews.com research report on Eaton (ETN)The How and Why of Investing in Gold StocksA Rounded Bottom In Draftkings, Inc Begins To Reverse CourseWorkhorse Group Is Ready To Get Back On The Horse Are 3M, Honeywell, GE Buys After Quarterly Reports?Is Sofi Financial Stock Finally Ready to Pay Off for Investors?
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