Eaton Co. plc (NYSE:ETN – Get Rating) – Equities researchers at William Blair lowered their Q3 2022 earnings per share estimates for shares of Eaton in a research report issued on Wednesday, May 4th. William Blair analyst N. Heymann now expects that the industrial products company will post earnings per share of $2.02 for the quarter, down from their previous estimate of $2.05. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Eaton’s Q4 2022 earnings at $2.08 EPS and FY2023 earnings at $8.35 EPS.
Eaton (NYSE:ETN – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Eaton had a net margin of 10.92% and a return on equity of 16.90%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS.
NYSE:ETN 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. The firm has a market cap of $59.91 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.78 and a beta of 1.15. The company has a 50 day moving average price of $148.98 and a 200-day moving average price of $159.29. Eaton has a 1-year low of $139.12 and a 1-year high of $175.72.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $3.24 annualized dividend and a yield of 2.16%. Eaton’s dividend payout ratio (DPR) is presently 58.59%.
In other news, Director Sandra Pianalto purchased 243 shares of the stock in a transaction dated Tuesday, February 8th. The shares were purchased at an average price of $151.58 per share, with a total value of $36,833.94. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joao V. Faria sold 11,852 shares of the business’s 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. Insiders own 0.56% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ETN. Financial Management Professionals Inc. lifted its position in Eaton by 288.6% in the first quarter. Financial Management Professionals Inc. now owns 171 shares of the industrial products company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Bell Investment Advisors Inc acquired a new position in Eaton in the third quarter valued at about $27,000. Arlington Partners LLC acquired a new position in Eaton in the fourth quarter valued at about $31,000. Steward Financial Group LLC acquired a new position in Eaton in the first quarter valued at about $32,000. Finally, Baldwin Brothers LLC MA lifted its position in Eaton by 63.0% in the first quarter. Baldwin Brothers LLC MA now owns 220 shares of the industrial products company’s stock valued at $33,000 after buying an additional 85 shares during the last quarter. 79.10% of the stock is currently owned by institutional investors.
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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