Jefferies Financial Group Comments on Eaton Co. plc’s FY2022 Earnings (NYSE:ETN)

Eaton Co. plc (NYSE:ETNGet Rating) – Equities research analysts at Jefferies Financial Group boosted their FY2022 earnings per share (EPS) estimates for shares of Eaton in a note issued to investors on Tuesday, May 3rd. Jefferies Financial Group analyst S. Volkmann now expects that the industrial products company will earn $7.60 per share for the year, up from their previous forecast of $7.55. Jefferies Financial Group also issued estimates for Eaton’s Q4 2022 earnings at $2.09 EPS, FY2023 earnings at $8.50 EPS, FY2024 earnings at $9.30 EPS and FY2025 earnings at $10.15 EPS.

Eaton (NYSE:ETNGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.02. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Eaton had a return on equity of 16.90% and a net margin of 10.92%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share.

ETN has been the topic of a number of other research reports. Zacks Investment Research upgraded Eaton from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Wednesday, January 5th. Mizuho cut their target price on Eaton from $195.00 to $185.00 in a research report on Wednesday. Royal Bank of Canada upped their target price on Eaton from $153.00 to $156.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 2nd. Wolfe Research cut their target price on Eaton from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Monday, February 7th. Finally, Credit Suisse Group cut their target price on Eaton from $187.00 to $179.00 in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Buy” and a consensus price target of $173.13.

Eaton stock opened at $149.93 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.04 and a quick ratio of 0.63. Eaton has a one year low of $139.12 and a one year high of $175.72. The firm has a market cap of $59.91 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. The stock’s fifty day moving average price is $148.98 and its two-hundred day moving average price is $159.29.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Checchi Capital Advisers LLC lifted its holdings in shares of Eaton by 1.5% during the third quarter. Checchi Capital Advisers LLC now owns 4,204 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 64 shares during the last quarter. Highland Private Wealth Management lifted its holdings in shares of Eaton by 3.9% during the fourth quarter. Highland Private Wealth Management now owns 1,706 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 64 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Eaton by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 2,686 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 65 shares during the last quarter. Wade G W & Inc. raised its holdings in Eaton by 3.7% in the 4th quarter. Wade G W & Inc. now owns 1,839 shares of the industrial products company’s stock worth $318,000 after acquiring an additional 65 shares during the last quarter. Finally, Mayflower Financial Advisors LLC raised its holdings in Eaton by 4.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,707 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 66 shares during the last quarter. 79.10% of the stock is owned by institutional investors and hedge funds.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, May 12th. Eaton’s dividend payout ratio is presently 58.59%.

About Eaton (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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