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

Eaton Co. plc (NYSE:ETN) – Stock analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Eaton in a research note issued to investors on Wednesday, December 4th. Zacks Research analyst J. Saha now expects that the industrial products company will post earnings per share of $10.78 for the year, up from their prior forecast of $10.76. The consensus estimate for Eaton’s current full-year earnings is $10.80 per share. Zacks Research also issued estimates for Eaton’s Q1 2026 earnings at $3.18 EPS.

Other equities research analysts also recently issued reports about the company. Morgan Stanley initiated coverage on Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Jefferies Financial Group lifted their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday. Raymond James decreased their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Citigroup assumed coverage on shares of Eaton in a research note on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $362.72.

Eaton Trading Up 0.0 %

NYSE:ETN opened at $371.22 on Friday. The business’s 50-day moving average is $352.74 and its two-hundred day moving average is $325.88. The firm has a market capitalization of $146.71 billion, a PE ratio of 39.49, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03. Eaton has a 12 month low of $226.79 and a 12 month high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. IAM Advisory LLC acquired a new position in shares of Eaton during the second quarter worth approximately $599,000. Interval Partners LP boosted its position in Eaton by 82.7% during the 2nd quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after acquiring an additional 68,693 shares during the period. Scientech Research LLC grew its stake in shares of Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock worth $1,801,000 after purchasing an additional 4,254 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eaton by 25.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 27,609 shares of the industrial products company’s stock valued at $8,657,000 after purchasing an additional 5,676 shares during the period. Finally, Leavell Investment Management Inc. increased its holdings in shares of Eaton by 67.6% during the second quarter. Leavell Investment Management Inc. now owns 8,556 shares of the industrial products company’s stock valued at $2,683,000 after purchasing an additional 3,452 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Craig Arnold sold 61,569 shares of the 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 owns 506,360 shares in the company, valued at $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 ninety days, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is currently owned by insiders.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.01%. Eaton’s payout ratio is 40.00%.

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.