Eaton (ETN) Scheduled to Post Earnings on Thursday

Eaton (NYSE:ETN) is scheduled to be releasing its earnings data before the market opens on Thursday, October 31st. Analysts expect Eaton to post earnings of $2.80 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a return on equity of 21.45% and a net margin of 15.12%. On average, analysts expect Eaton to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Eaton Price Performance

Shares of NYSE:ETN opened at $345.55 on Wednesday. The business’s 50 day simple moving average is $320.85 and its 200-day simple moving average is $317.88. The firm has a market capitalization of $137.56 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. 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 12 month low of $196.12 and a 12 month high of $349.74.

Eaton Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.09%. Eaton’s dividend payout ratio is currently 41.36%.

Insider Transactions at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 71,262 shares in the company, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock worth $15,809,326 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ETN. Mizuho lifted their price objective on Eaton from $355.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Jefferies Financial Group lifted their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.06.

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.