Zacks Research Has Positive Outlook of Eaton FY2024 Earnings

Eaton Co. plc (NYSE:ETN) – Equities research analysts at Zacks Research increased their FY2024 earnings estimates for Eaton in a research report issued to clients and investors on Wednesday, November 13th. Zacks Research analyst J. Saha now expects that the industrial products company will earn $10.76 per share for the year, up from their prior forecast 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 posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. During the same period last year, the business posted $2.47 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on ETN. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective on the stock. Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group assumed coverage on Eaton in a research note on Wednesday. They set a “buy” rating and a $431.00 price objective for the company. Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Finally, Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Stock Performance

Shares of NYSE ETN opened at $358.99 on Friday. The firm has a market capitalization of $141.87 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 2.96 and a beta of 1.01. Eaton has a one year low of $224.52 and a one year high of $373.49. The business has a fifty day simple moving average of $334.34 and a 200 day simple moving average of $321.13. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Hedge Funds Weigh In On Eaton

Several hedge funds have recently bought and sold shares of ETN. Legal & General Group Plc grew its holdings in shares of Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after purchasing an additional 18,077 shares during the last quarter. Capital World Investors grew its stake in shares of Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after buying an additional 2,439,270 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after buying an additional 597,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after acquiring an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Eaton by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after acquiring an additional 40,078 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

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

Eaton Dividend Announcement

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

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.