Zacks Research Forecasts Eaton’s FY2024 Earnings (NYSE:ETN)

Eaton Co. plc (NYSE:ETN) – Research analysts at Zacks Research increased their FY2024 EPS estimates for Eaton in a report issued on Wednesday, November 13th. Zacks Research analyst J. Saha now anticipates that the industrial products company will earn $10.76 per share for the year, up from their prior estimate of $10.72. The consensus estimate for Eaton’s current full-year earnings is $10.79 per share. Zacks Research also issued estimates for Eaton’s Q2 2025 earnings at $3.05 EPS, Q3 2025 earnings at $3.14 EPS, Q4 2025 earnings at $3.09 EPS, Q1 2026 earnings at $3.16 EPS and Q2 2026 earnings at $3.38 EPS.

Eaton (NYSE:ETN) last issued 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. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.47 EPS.

Other research analysts also recently issued research reports about the company. Sanford C. Bernstein began coverage on Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Eaton in a report on Wednesday. They set a “buy” rating and a $431.00 price target on the stock. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and increased their price objective for the company from $333.00 to $389.00 in a report on Wednesday. Finally, Bank of America lifted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.83.

Eaton Price Performance

Shares of ETN opened at $358.99 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $141.87 billion, a PE ratio of 38.19, a PEG ratio of 2.96 and a beta of 1.01. Eaton has a 12-month low of $224.52 and a 12-month high of $373.49. The business has a 50-day simple moving average of $335.82 and a two-hundred day simple moving average of $321.35.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Strategic Wealth Partners Ltd. lifted its position in Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD lifted its holdings in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 30 shares in the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock worth $513,000 after buying an additional 32 shares in the last quarter. Finally, Well Done LLC raised its position in Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Karenann K. Terrell acquired 500 shares of Eaton stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares of the company’s stock, valued at approximately $149,485. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The trade was a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock valued at $24,516,346 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton’s payout ratio is presently 40.00%.

About Eaton

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.