Eaton Co. plc (NYSE:ETN) Forecasted to Earn Q2 2022 Earnings of $1.84 Per Share

Eaton Co. plc (NYSE:ETN – Get Rating) – Jefferies Financial Group reduced their Q2 2022 EPS estimates for Eaton in a research note issued on Friday, July 15th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will post earnings per share of $1.84 for the quarter, down from their prior estimate of $1.85. The consensus estimate for Eaton’s current full-year earnings is $7.48 per share. Jefferies Financial Group also issued estimates for Eaton’s Q3 2022 earnings at $2.04 EPS.

Eaton (NYSE:ETN – Get Rating) last posted 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. Eaton had a net margin of 11.21% and a return on equity of 16.92%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $1.44 earnings per share. Eaton’s revenue for the quarter was up 3.2% compared to the same quarter last year.

ETN has been the subject of several other reports. The Goldman Sachs Group dropped their price objective on shares of Eaton from $175.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Robert W. Baird lifted their price objective on shares of Eaton from $150.00 to $155.00 in a research note on Tuesday, May 3rd. Mizuho dropped their price objective on shares of Eaton from $195.00 to $185.00 in a research note on Wednesday, May 4th. StockNews.com raised shares of Eaton from a “hold” rating to a “buy” rating in a research note on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eaton from $178.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average price target of $163.40.

Eaton Trading Up 3.2 %

ETN stock opened at $128.99 on Monday. The firm has a fifty day moving average price of $133.79 and a 200 day moving average price of $146.75. Eaton has a fifty-two week low of $122.50 and a fifty-two week high of $175.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 0.99. The firm has a market cap of $51.47 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15.

Hedge Funds Weigh In On Eaton

A number of large investors have recently added to or reduced their stakes in ETN. Stonnington Group LLC boosted its position in Eaton by 11.1% in the first quarter. Stonnington Group LLC now owns 13,010 shares of the industrial products company’s stock valued at $1,851,000 after buying an additional 1,300 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Eaton by 54.6% during the 1st quarter. Rosenberg Matthew Hamilton now owns 779 shares of the industrial products company’s stock worth $118,000 after buying an additional 275 shares during the period. MTM Investment Management LLC raised its stake in shares of Eaton by 34.2% during the 4th quarter. MTM Investment Management LLC now owns 2,355 shares of the industrial products company’s stock worth $407,000 after buying an additional 600 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Eaton by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,200 shares of the industrial products company’s stock worth $3,764,000 after buying an additional 200 shares during the period. Finally, Mendel Capital Management LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $270,000. 79.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eaton news, insider Boise April Miller sold 12,283 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $138.66, for a total value of $1,703,160.78. Following the completion of the transaction, the insider now directly owns 11,435 shares in the company, valued at $1,585,577.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were issued a $0.81 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $3.24 dividend on an annualized basis and a yield of 2.51%. 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.