Brokerages expect that Eaton Corporation, PLC (NYSE:ETN) will post $1.24 earnings per share for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Eaton’s earnings, with the lowest EPS estimate coming in at $1.16 and the highest estimate coming in at $1.26. Eaton reported earnings of $1.12 per share during the same quarter last year, which would indicate a positive year over year growth rate of 10.7%. The firm is scheduled to report its next earnings results on Thursday, February 1st.

According to Zacks, analysts expect that Eaton will report full-year earnings of $4.60 per share for the current financial year, with EPS estimates ranging from $4.52 to $4.63. For the next fiscal year, analysts forecast that the business will post earnings of $5.13 per share, with EPS estimates ranging from $5.00 to $5.20. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Eaton.

Eaton (NYSE:ETN) last released its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. Eaton had a return on equity of 12.89% and a net margin of 14.21%. The firm had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm’s revenue was up 6.4% on a year-over-year basis.

ETN has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $88.00 price target (up from $87.00) on shares of Eaton in a research report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $80.00 price target on shares of Eaton in a research report on Monday. Jefferies Group reaffirmed a “hold” rating and set a $75.00 price target on shares of Eaton in a research report on Thursday, August 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $92.00 price target (up from $86.00) on shares of Eaton in a research report on Wednesday, November 1st. Finally, Bank of America downgraded Eaton from a “buy” rating to an “underperform” rating in a research report on Tuesday, October 17th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $82.69.

Eaton (NYSE ETN) traded down $1.13 during midday trading on Friday, hitting $76.44. The company had a trading volume of 1,719,700 shares, compared to its average volume of 2,324,019. The firm has a market cap of $34,177.34, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.43. Eaton has a 52-week low of $66.60 and a 52-week high of $82.34.

The business also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, November 2nd. Eaton’s dividend payout ratio is presently 37.68%.

In other Eaton news, insider Curtis J. Hutchins sold 14,360 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $78.36, for a total value of $1,125,249.60. Following the transaction, the insider now directly owns 26,596 shares of the company’s stock, valued at approximately $2,084,062.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Revathi Advaithi sold 23,743 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $78.36, for a total transaction of $1,860,501.48. Following the completion of the transaction, the insider now directly owns 31,028 shares in the company, valued at $2,431,354.08. The disclosure for this sale can be found here. Insiders sold a total of 58,938 shares of company stock worth $4,597,529 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cable Hill Partners LLC lifted its stake in Eaton by 174.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 867 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new position in Eaton in the 3rd quarter worth approximately $130,000. Captrust Financial Advisors purchased a new stake in shares of Eaton during the 2nd quarter valued at approximately $133,000. Harfst & Associates Inc. raised its position in shares of Eaton by 21.8% during the 2nd quarter. Harfst & Associates Inc. now owns 1,798 shares of the industrial products company’s stock valued at $139,000 after buying an additional 322 shares during the period. Finally, Acrospire Investment Management LLC raised its position in shares of Eaton by 325.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,091 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,600 shares during the period. 76.65% of the stock is currently owned by institutional investors and hedge funds.

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About Eaton

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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