Zacks Research Brokers Reduce Earnings Estimates for Eaton

Eaton Co. plc (NYSE:ETN) – Stock analysts at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for shares of Eaton in a note issued to investors on Wednesday, November 13th. Zacks Research analyst J. Saha now forecasts that the industrial products company will post earnings per share of $2.79 for the quarter, down from their prior forecast of $2.80. The consensus estimate for Eaton’s current full-year earnings is $10.79 per share. Zacks Research also issued estimates for Eaton’s Q1 2025 earnings at $2.70 EPS, FY2025 earnings at $11.98 EPS, Q3 2026 earnings at $3.47 EPS and FY2026 earnings at $13.47 EPS.

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

Other equities analysts have also issued research reports about the stock. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the company from $333.00 to $389.00 in a research report on Wednesday, November 13th. Raymond James decreased their price target 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. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price target for the company. Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective on the stock. Finally, Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Price Performance

Shares of NYSE:ETN opened at $357.83 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton has a 52 week low of $224.52 and a 52 week high of $373.49. The firm’s 50 day moving average is $337.19 and its two-hundred day moving average is $321.74. The firm has a market capitalization of $141.41 billion, a P/E ratio of 38.07, a PEG ratio of 2.85 and a beta of 1.01.

Institutional Investors Weigh In On Eaton

A number of hedge funds have recently modified their holdings of ETN. Breakwater Investment Management boosted its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. bought a new stake in shares of Eaton in the 2nd quarter valued at about $29,000. Groupama Asset Managment boosted its stake in shares of Eaton by 83.2% during the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the period. LGT Financial Advisors LLC bought a new position in shares of Eaton in the second quarter valued at about $33,000. Finally, Morse Asset Management Inc acquired a new position in shares of Eaton in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Activity

In other Eaton news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $298.97 per share, with a total value of $149,485.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at $149,485. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. 0.53% of the stock is owned by corporate insiders.

Eaton Dividend Announcement

The firm also recently declared 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 is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.05%. Eaton’s dividend payout ratio (DPR) 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.