Eaton (NYSE:ETN) Issues Q4 2024 Earnings Guidance

Eaton (NYSE:ETN) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.780-2.840 for the period, compared to the consensus EPS estimate of 2.810. The company issued revenue guidance of -. Eaton also updated its FY 2024 guidance to 10.750-10.810 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ETN shares. Jefferies Financial Group raised their price target on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company raised their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays decreased their price target on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Friday. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Raymond James lowered their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eaton has a consensus rating of “Moderate Buy” and an average target price of $341.00.

Eaton Price Performance

ETN traded up $3.42 on Friday, hitting $335.00. 2,369,253 shares of the stock were exchanged, compared to its average volume of 2,106,960. The firm has a market capitalization of $133.36 billion, a price-to-earnings ratio of 36.85, a PEG 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 $211.99 and a 12 month high of $349.74. The business has a 50-day moving average of $323.09 and a two-hundred day moving average of $318.29.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $2.47 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Eaton will post 10.75 EPS for the current fiscal year.

Eaton Announces Dividend

The firm 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 is Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. Eaton’s dividend payout ratio is currently 41.36%.

Insider Activity at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $149,485. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

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.