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Eaton Co. plc (NYSE:ETN - Get Rating) - Analysts at Jefferies Financial Group dropped their Q4 2022 earnings per share (EPS) estimates for shares of Eaton in a research note issued to investors on Tuesday, August 2nd. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will post earnings of $2.05 per share for the quarter, down from their prior forecast of $2.06. The consensus estimate for Eaton's current full-year earnings is $7.51 per share. Jefferies Financial Group also issued estimates for Eaton's Q1 2023 earnings at $1.90 EPS, Q2 2023 earnings at $2.05 EPS, Q3 2023 earnings at $2.20 EPS and Q4 2023 earnings at $2.25 EPS.
Eaton (NYSE:ETN - Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.05. Eaton had a return on equity of 17.04% and a net margin of 11.70%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business's revenue for the quarter was down .1% compared to the same quarter last year.
A number of other brokerages have also issued reports on ETN. Credit Suisse Group boosted their price target on Eaton from $158.00 to $167.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley boosted their price target on Eaton from $170.00 to $176.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays boosted their price target on Eaton from $112.00 to $124.00 and gave the stock an "underweight" rating in a research report on Wednesday. Mizuho upped their price objective on Eaton from $145.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday. Finally, The Goldman Sachs Group cut their price objective on Eaton from $175.00 to $146.00 and set a "buy" rating for the company in a report on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $161.33.Eaton Trading Up 0.0 %
Shares of ETN stock opened at $148.71 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.59 and a current ratio of 0.97. Eaton has a 1 year low of $122.50 and a 1 year high of $175.72. The stock has a fifty day moving average of $134.35 and a two-hundred day moving average of $144.24. The firm has a market capitalization of $59.23 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Eaton by 1.5% in the first quarter. Vanguard Group Inc. now owns 34,526,905 shares of the industrial products company's stock valued at $5,239,803,000 after purchasing an additional 500,438 shares in the last quarter. BlackRock Inc. grew its stake in Eaton by 5.5% in the first quarter. BlackRock Inc. now owns 27,959,368 shares of the industrial products company's stock valued at $4,243,113,000 after purchasing an additional 1,449,671 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Eaton by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 26,578,334 shares of the industrial products company's stock valued at $4,033,527,000 after purchasing an additional 900,550 shares in the last quarter. State Street Corp grew its stake in Eaton by 0.7% in the fourth quarter. State Street Corp now owns 16,615,642 shares of the industrial products company's stock valued at $2,871,515,000 after purchasing an additional 115,947 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Eaton by 5.6% in the first quarter. Bank of America Corp DE now owns 14,218,498 shares of the industrial products company's stock valued at $2,157,799,000 after purchasing an additional 752,368 shares in the last quarter. 79.10% of the stock is owned by institutional investors and hedge funds. Insider Transactions at Eaton
In related news, insider Boise April Miller sold 12,283 shares of the company's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $138.66, for a total transaction of $1,703,160.78. Following the transaction, the insider now directly owns 11,435 shares of the company's stock, valued at $1,585,577.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders. Eaton Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, August 11th. Eaton's dividend payout ratio (DPR) is presently 56.15%. Eaton Company Profile (Get Rating)
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.Read MoreGet a free copy of the StockNews.com research report on Eaton (ETN)BJ’s Wholesale Club Stock Has More Room to Grow 3 Hotel Stocks to Consider Checking into After Earnings How Does Freeport McMoran Inc Compare to Its Sector Competitors?Can FuelCell Energy Surge Higher This Year?Is It Time to Take a Ride on Cedar Fair Stock?
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