Q3 2022 EPS Estimates for Eaton Co. plc Cut by Analyst (NYSE:ETN)

Eaton Co. plc (NYSE:ETNGet Rating) – Research analysts at William Blair decreased their Q3 2022 earnings per share estimates for Eaton in a note issued to investors on Tuesday, August 2nd. William Blair analyst N. Heymann now expects that the industrial products company will earn $2.03 per share for the quarter, down from their previous estimate of $2.04. The consensus estimate for Eaton’s current full-year earnings is $7.51 per share.

Eaton (NYSE:ETNGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.05. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Eaton had a return on equity of 17.04% and a net margin of 11.70%. Eaton’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 earnings per share.

Several other equities analysts also recently weighed in on ETN. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a research report on Friday, July 8th. The Goldman Sachs Group dropped their target price on Eaton from $175.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. UBS Group dropped their target price on Eaton from $192.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays raised their price objective on Eaton from $112.00 to $124.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on Eaton from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.33.

Eaton Stock Down 0.0 %

ETN opened at $148.65 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.97 and a debt-to-equity ratio of 0.38. The firm has a market cap of $59.31 billion, a P/E ratio of 25.76, a PEG ratio of 1.80 and a beta of 1.19. Eaton has a 52 week low of $122.50 and a 52 week high of $175.72. The business’s fifty day simple moving average is $134.53 and its 200 day simple moving average is $144.12.

Hedge Funds Weigh In On Eaton

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Eaton by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 34,526,905 shares of the industrial products company’s stock valued at $5,239,803,000 after acquiring an additional 500,438 shares in the last quarter. BlackRock Inc. grew its stake in shares of Eaton by 5.5% in the 1st quarter. BlackRock Inc. now owns 27,959,368 shares of the industrial products company’s stock valued at $4,243,113,000 after purchasing an additional 1,449,671 shares during the period. JPMorgan Chase & Co. grew its position in Eaton by 3.5% during the 1st quarter. JPMorgan Chase & Co. now owns 26,578,334 shares of the industrial products company’s stock worth $4,033,527,000 after acquiring an additional 900,550 shares during the last quarter. State Street Corp grew its position in Eaton by 0.7% during the 4th quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock worth $2,871,515,000 after acquiring an additional 115,947 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Eaton by 5.6% during the 1st quarter. Bank of America Corp DE now owns 14,218,498 shares of the industrial products company’s stock worth $2,157,799,000 after acquiring an additional 752,368 shares during the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.

Insider Activity

In other Eaton news, insider Boise April Miller sold 12,283 shares of the business’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 transaction, the insider now owns 11,435 shares in the company, valued at $1,585,577.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.18%. Eaton’s dividend payout ratio is 56.15%.

About Eaton

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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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Earnings History and Estimates for Eaton (NYSE:ETN)

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