Eaton (NYSE:ETN) Issues Q3 2022 Earnings Guidance

Eaton (NYSE:ETNGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.95-$2.05 for the period, compared to the consensus estimate of $1.99. The company issued revenue guidance of -. Eaton also updated its FY 2022 guidance to $7.36-$7.76 EPS.

Eaton Trading Down 0.0 %

Shares of NYSE:ETN traded down $0.06 during midday trading on Friday, hitting $148.65. 1,238,559 shares of the stock were exchanged, compared to its average volume of 2,019,818. The business’s 50-day moving average price is $134.53 and its 200 day moving average price is $144.12. Eaton has a 12 month low of $122.50 and a 12 month high of $175.72. The stock has a market capitalization of $59.31 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 1.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.59 and a current ratio of 0.97.

Eaton (NYSE:ETNGet Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.82 by $0.05. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Analysts predict that Eaton will post 7.51 earnings per share for the current year.

Eaton Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Eaton from $139.00 to $142.00 and gave the company an equal weight rating in a research note on Wednesday. Credit Suisse Group boosted their price target on Eaton from $158.00 to $167.00 and gave the company an outperform rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on Eaton from $178.00 to $156.00 and set a buy rating on the stock in a research report on Wednesday, July 13th. Robert W. Baird set a $144.00 target price on Eaton in a research report on Tuesday. Finally, StockNews.com raised Eaton from a hold rating to a buy rating in a research report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton currently has an average rating of Moderate Buy and an average price target of $161.33.

Insider Transactions at Eaton

In other Eaton news, insider Boise April Miller sold 12,283 shares of Eaton stock in a transaction on Friday, May 27th. The stock was sold at an average price of $138.66, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in shares of Eaton by 17.5% in the first quarter. Clearbridge Investments LLC now owns 6,322,217 shares of the industrial products company’s stock worth $959,460,000 after purchasing an additional 943,279 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Eaton by 7.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,617,013 shares of the industrial products company’s stock worth $548,918,000 after purchasing an additional 247,215 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Eaton by 74.9% in the first quarter. The Manufacturers Life Insurance Company now owns 563,848 shares of the industrial products company’s stock worth $85,570,000 after purchasing an additional 241,534 shares during the last quarter. Bridgewater Associates LP purchased a new position in shares of Eaton in the first quarter worth $30,297,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Eaton by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,007,185 shares of the industrial products company’s stock worth $304,611,000 after purchasing an additional 60,797 shares during the last quarter. Hedge funds and other institutional investors own 79.10% of the company’s stock.

Eaton Company Profile

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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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