FY2024 EPS Estimates for Eaton Co. plc Boosted by Analyst (NYSE:ETN)

Eaton Co. plc (NYSE:ETN) – Investment analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Eaton in a research report issued to clients and investors on Monday, September 16th. Zacks Research analyst J. Saha now expects that the industrial products company will post earnings per share of $10.70 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 research analysts also recently weighed in on the company. Wells Fargo & Company cut their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Evercore ISI lowered their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group lifted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley initiated coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $337.41.

Eaton Stock Performance

Shares of Eaton stock opened at $330.59 on Thursday. The company’s 50 day moving average price is $299.93 and its two-hundred day moving average price is $312.45. The firm has a market capitalization of $132.17 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton has a fifty-two week low of $191.82 and a fifty-two week high of $345.19.

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

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is 44.39%.

Insider Activity

In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, valued at $21,451,287.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction 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 transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eaton

A number of institutional investors and hedge funds have recently made changes to their positions in ETN. Gryphon Financial Partners LLC raised its holdings in shares of Eaton by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,053 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of Eaton by 24.8% in the 4th quarter. Great Lakes Advisors LLC now owns 2,176 shares of the industrial products company’s stock worth $524,000 after buying an additional 432 shares during the last quarter. Gladstone Institutional Advisory LLC grew its holdings in shares of Eaton by 32.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,047 shares of the industrial products company’s stock valued at $493,000 after acquiring an additional 505 shares in the last quarter. Sachetta LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $66,000. Finally, Corient Private Wealth LLC lifted its holdings in Eaton by 4.9% during the fourth quarter. Corient Private Wealth LLC now owns 180,537 shares of the industrial products company’s stock worth $43,477,000 after acquiring an additional 8,386 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.