Zacks Research Has Pessimistic View of Eaton Q4 Earnings

Eaton Co. plc (NYSE:ETN) – Analysts at Zacks Research cut their Q4 2024 earnings per share (EPS) estimates for Eaton in a research note issued on Wednesday, November 13th. Zacks Research analyst J. Saha now forecasts that the industrial products company will post earnings of $2.79 per share for the quarter, down from their prior forecast of $2.80. The consensus estimate for Eaton’s current full-year earnings is $10.79 per share. Zacks Research also issued estimates for Eaton’s Q1 2025 earnings at $2.70 EPS, FY2025 earnings at $11.98 EPS, Q3 2026 earnings at $3.47 EPS and FY2026 earnings at $13.47 EPS.

Several other research firms have also recently weighed in on ETN. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Stock Up 1.6 %

NYSE:ETN opened at $363.66 on Monday. Eaton has a 1 year low of $224.52 and a 1 year high of $373.49. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $143.72 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 2.85 and a beta of 1.01. The stock has a 50-day moving average price of $338.69 and a two-hundred day moving average price of $322.04.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the firm earned $2.47 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis.

Institutional Trading of Eaton

Several large investors have recently made changes to their positions in the company. Strategic Wealth Partners Ltd. grew its stake in shares of Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares during the period. Fairfield Financial Advisors LTD grew its stake in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares during the period. Legacy Capital Group California Inc. grew its stake in shares of Eaton by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock valued at $870,000 after buying an additional 32 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after buying an additional 32 shares during the period. Finally, Well Done LLC grew its stake in shares of Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after buying an additional 33 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 68,705 shares of company stock valued at $24,516,346 in the last three months. Insiders own 0.33% of the company’s stock.

Eaton Dividend Announcement

The business also recently announced 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. This represents a $3.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

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.