Zacks Research Has Positive Outlook of Eaton FY2024 Earnings

Eaton Co. plc (NYSE:ETN) – Zacks Research boosted their FY2024 earnings per share estimates for Eaton in a research note issued on Wednesday, December 4th. Zacks Research analyst J. Saha now expects that the industrial products company will post earnings of $10.78 per share for the year, up from their prior forecast of $10.76. The consensus estimate for Eaton’s current full-year earnings is $10.80 per share. Zacks Research also issued estimates for Eaton’s Q1 2026 earnings at $3.18 EPS.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the business posted $2.47 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year.

A number of other analysts also recently commented on ETN. Mizuho upped their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Raymond James cut their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Barclays increased their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.67.

Eaton Price Performance

NYSE:ETN opened at $371.05 on Friday. The firm’s fifty day moving average is $351.88 and its two-hundred day moving average is $325.70. The firm has a market cap of $146.64 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 2.83 and a beta of 1.03. Eaton has a one year low of $226.63 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock worth $24,100,317 in the last ninety days. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eaton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETN. Breakwater Investment Management lifted its holdings in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the second quarter worth approximately $29,000. Groupama Asset Managment lifted its stake in Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Eaton in the second quarter valued at approximately $33,000. Finally, Morse Asset Management Inc purchased a new position in shares of Eaton during the third quarter worth approximately $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Company Profile

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.