Eaton (NYSE:ETN) Issues Q2 Earnings Guidance

Eaton (NYSE:ETNGet Rating) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.78-$1.88 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.84. Eaton also updated its FY22 guidance to $7.32-$7.72 EPS.

Eaton stock traded up $3.11 during mid-day trading on Tuesday, reaching $149.61. The company had a trading volume of 29,193 shares, compared to its average volume of 1,840,402. Eaton has a fifty-two week low of $139.12 and a fifty-two week high of $175.72. The company has a current ratio of 1.04, a quick ratio of 0.63 and a debt-to-equity ratio of 0.42. The company has a market cap of $59.78 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.77 and a beta of 1.15. The business has a fifty day simple moving average of $149.04 and a 200 day simple moving average of $159.44.

Eaton (NYSE:ETNGet Rating) last issued its earnings results on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. Eaton had a net margin of 10.92% and a return on equity of 16.90%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. Research analysts forecast that Eaton will post 7.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, May 12th. Eaton’s payout ratio is currently 60.67%.

Several research firms have recently issued reports on ETN. Morgan Stanley dropped their price target on shares of Eaton from $195.00 to $180.00 and set an overweight rating for the company in a research note on Tuesday, March 1st. Royal Bank of Canada lifted their target price on shares of Eaton from $153.00 to $156.00 and gave the stock a sector perform rating in a research note on Wednesday, March 2nd. Wells Fargo & Company lowered their target price on shares of Eaton from $180.00 to $165.00 in a research note on Monday, February 7th. Barclays lowered their target price on shares of Eaton from $162.00 to $155.00 and set an equal weight rating for the company in a research note on Monday, April 4th. Finally, Robert W. Baird set a $167.00 target price on shares of Eaton in a research note on Friday, February 4th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Eaton currently has an average rating of Buy and a consensus target price of $175.94.

In other Eaton news, Director Sandra Pianalto acquired 243 shares of Eaton stock in a transaction dated Tuesday, February 8th. The stock was purchased at an average cost of $151.58 per share, for a total transaction of $36,833.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joao V. Faria sold 11,852 shares of Eaton stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $150.00, for a total transaction of $1,777,800.00. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ETN. Deutsche Bank AG boosted its holdings in Eaton by 12.1% during the fourth quarter. Deutsche Bank AG now owns 1,354,254 shares of the industrial products company’s stock worth $234,043,000 after purchasing an additional 145,960 shares during the last quarter. NewEdge Advisors LLC raised its position in Eaton by 34.4% in the fourth quarter. NewEdge Advisors LLC now owns 43,219 shares of the industrial products company’s stock worth $7,469,000 after acquiring an additional 11,070 shares during the period. Toroso Investments LLC raised its position in Eaton by 109.0% in the fourth quarter. Toroso Investments LLC now owns 12,312 shares of the industrial products company’s stock worth $2,128,000 after acquiring an additional 6,420 shares during the period. Paradigm Financial Partners LLC bought a new stake in Eaton in the fourth quarter worth about $472,000. Finally, Kingsview Wealth Management LLC raised its position in Eaton by 42.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,744 shares of the industrial products company’s stock worth $1,338,000 after acquiring an additional 2,296 shares during the period. Institutional investors and hedge funds own 79.10% of the company’s stock.

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.

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Earnings History and Estimates for Eaton (NYSE:ETN)

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