Posted by admin on May 9th, 2022
Eaton Co. plc (NYSE:ETN – Get Rating) – Analysts at Oppenheimer upped their Q2 2022 earnings per share (EPS) estimates for Eaton in a research report issued on Wednesday, May 4th. Oppenheimer analyst C. Glynn now anticipates that the industrial products company will post earnings per share of $1.83 for the quarter, up from their prior estimate of $1.82. Oppenheimer also issued estimates for Eaton’s Q4 2022 earnings at $2.06 EPS and FY2023 earnings at $8.30 EPS.
Eaton (NYSE:ETN – Get Rating) last posted 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 company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.78 billion. Eaton had a return on equity of 16.92% and a net margin of 11.21%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 EPS.
Several other analysts also recently commented on the company. Wolfe Research cut their target price on Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Monday, February 7th. William Blair reiterated a “market perform” rating on shares of Eaton in a research note on Thursday, March 3rd. Credit Suisse Group lowered their price target on Eaton from $187.00 to $179.00 in a report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price target on Eaton from $176.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Finally, Royal Bank of Canada raised their target price on Eaton from $153.00 to $156.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 2nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $173.13.
Eaton stock opened at $147.29 on Monday. The stock’s 50 day moving average is $148.72 and its 200 day moving average is $159.05. The company has a quick ratio of 0.63, a current ratio of 0.99 and a debt-to-equity ratio of 0.41. Eaton has a twelve month low of $139.12 and a twelve month high of $175.72. The company has a market capitalization of $58.77 billion, a P/E ratio of 26.63, a PEG ratio of 1.79 and a beta of 1.15.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be given a $0.81 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $3.24 annualized dividend and a yield of 2.20%. Eaton’s dividend payout ratio is currently 58.59%.
In other Eaton news, insider Joao V. Faria sold 11,852 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $150.00, for a total transaction of $1,777,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandra Pianalto bought 243 shares of the company’s stock in a transaction on Tuesday, February 8th. The shares were acquired at an average price of $151.58 per share, with a total value of $36,833.94. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.
Several large investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Eaton by 0.7% during the fourth quarter. State Street Corp now owns 16,615,642 shares of the industrial products company’s stock valued at $2,871,515,000 after buying an additional 115,947 shares during the period. Norges Bank bought a new stake in shares of Eaton during the fourth quarter valued at approximately $1,235,314,000. Geode Capital Management LLC raised its stake in shares of Eaton by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 6,538,531 shares of the industrial products company’s stock valued at $1,126,638,000 after acquiring an additional 59,543 shares in the last quarter. Morgan Stanley raised its stake in shares of Eaton by 7.3% during the third quarter. Morgan Stanley now owns 4,044,508 shares of the industrial products company’s stock valued at $603,886,000 after acquiring an additional 274,249 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Eaton by 15.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,455,308 shares of the industrial products company’s stock valued at $592,309,000 after acquiring an additional 451,727 shares in the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.
Eaton Company Profile (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.
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