What is Zacks Research’s Forecast for Eaton FY2024 Earnings?

Eaton Co. plc (NYSE:ETN) – Analysts at Zacks Research raised their FY2024 earnings estimates for Eaton in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst J. Saha now forecasts that the industrial products company will earn $10.76 per share for the year, up from their previous estimate 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.

Several other research firms have also recently commented on ETN. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective on the stock. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays reduced their price target on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, UBS Group started coverage on shares of Eaton in a report on Wednesday. They issued a “buy” rating and a $431.00 price objective on the stock. 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Stock Performance

Shares of ETN opened at $358.99 on Friday. The firm’s 50 day moving average price is $335.82 and its two-hundred day moving average price is $321.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton has a twelve month low of $224.52 and a twelve month high of $373.49. The firm has a market cap of $141.87 billion, a P/E ratio of 38.19, a PEG ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the business posted $2.47 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year.

Eaton Announces Dividend

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 is Monday, November 4th. Eaton’s payout ratio is presently 40.00%.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 3,136 shares of the 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 transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. This represents a 44.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,705 shares of company stock worth $24,516,346. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after acquiring an additional 56,516 shares during the period. Legal & General Group Plc increased its holdings in Eaton by 0.6% in 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 buying an additional 18,077 shares during the period. Capital World Investors raised its position in shares of Eaton by 323.8% in the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eaton by 253.2% in the third 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. 82.97% of the stock is owned by institutional investors.

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.