FY2024 EPS Estimates for Eaton Co. plc Increased by Zacks Research (NYSE:ETN)

Eaton Co. plc (NYSE:ETN) – Zacks Research increased their FY2024 earnings per share estimates for Eaton in a research report issued to clients and investors on Monday, September 16th. Zacks Research analyst J. Saha now anticipates that the industrial products company will post earnings of $10.70 per share for the year, up from their previous estimate of $10.65. The consensus estimate for Eaton’s current full-year earnings is $10.74 per share. Zacks Research also issued estimates for Eaton’s Q1 2025 earnings at $2.72 EPS, Q2 2025 earnings at $3.08 EPS, Q3 2025 earnings at $3.15 EPS, Q4 2025 earnings at $3.11 EPS and FY2025 earnings at $12.06 EPS.

Several other equities analysts also recently commented on ETN. Citigroup initiated coverage on Eaton in a research note on Monday. They issued a “buy” rating and a $348.00 price objective on the stock. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company lowered their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Barclays increased their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reduced their target price on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $337.41.

Eaton Stock Up 4.5 %

ETN opened at $328.92 on Thursday. The company’s 50-day moving average price is $299.93 and its two-hundred day moving average price is $312.22. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton has a twelve month low of $191.82 and a twelve month high of $345.19. The stock has a market cap of $131.50 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.28 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. Eaton’s payout ratio is currently 44.39%.

Insider Activity

In related news, Director Dorothy C. Thompson purchased 2,205 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 52,511 shares of company stock worth $15,809,326. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eaton

Institutional investors and hedge funds have recently made changes to their positions in the business. Gryphon Financial Partners LLC grew its stake in shares of Eaton by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,053 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Eaton by 24.8% in the fourth quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 432 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of Eaton by 32.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock valued at $493,000 after purchasing an additional 505 shares during the period. Sachetta LLC bought a new position in shares of Eaton in the fourth quarter worth approximately $66,000. Finally, Corient Private Wealth LLC increased its stake in shares of Eaton by 4.9% in the fourth quarter. Corient Private Wealth LLC now owns 180,537 shares of the industrial products company’s stock worth $43,477,000 after buying an additional 8,386 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.