Eaton (NYSE:ETN) Releases Q3 2022 Earnings Guidance

Eaton (NYSE:ETNGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.95-$2.05 for the period, compared to the consensus estimate of $1.99. The company issued revenue guidance of -. Eaton also updated its FY 2022 guidance to $7.36-$7.76 EPS.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho raised their target price on Eaton from $145.00 to $160.00 and gave the stock a buy rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Eaton from $178.00 to $156.00 and set a buy rating for the company in a report on Wednesday, July 13th. StockNews.com raised shares of Eaton from a hold rating to a buy rating in a research note on Friday, July 8th. Barclays upped their price objective on shares of Eaton from $112.00 to $124.00 and gave the stock an underweight rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Eaton from $139.00 to $142.00 and gave the stock an equal weight rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $161.33.

Eaton Stock Down 0.0 %

Eaton stock traded down $0.06 during mid-day trading on Friday, reaching $148.65. 1,238,559 shares of the company’s stock were exchanged, compared to its average volume of 2,019,818. The company has a market cap of $59.31 billion, a P/E ratio of 25.76, a P/E/G ratio of 1.80 and a beta of 1.19. Eaton has a twelve month low of $122.50 and a twelve month high of $175.72. The company has a quick ratio of 0.59, a current ratio of 0.97 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $134.53 and a 200-day moving average of $144.12.

Eaton (NYSE:ETNGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. Eaton had a net margin of 11.70% and a return on equity of 17.04%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm posted $1.72 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts expect that Eaton will post 7.51 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, August 11th. Eaton’s dividend payout ratio is presently 56.15%.

Insider Activity at Eaton

In related news, insider Boise April Miller sold 12,283 shares of the stock in a transaction on 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 transaction, the insider now directly owns 11,435 shares of the company’s stock, valued at approximately $1,585,577.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company’s stock.

Institutional Trading of Eaton

A number of large investors have recently bought and sold shares of ETN. RB Capital Management LLC boosted its stake in Eaton by 3.5% during the 1st quarter. RB Capital Management LLC now owns 2,759 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 94 shares during the period. Canada Pension Plan Investment Board boosted its stake in Eaton by 74.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 101,412 shares of the industrial products company’s stock worth $15,390,000 after purchasing an additional 43,381 shares during the period. Baird Financial Group Inc. boosted its stake in Eaton by 0.6% during the 1st quarter. Baird Financial Group Inc. now owns 374,204 shares of the industrial products company’s stock worth $56,790,000 after purchasing an additional 2,057 shares during the period. Mather Group LLC. lifted its stake in shares of Eaton by 9.1% in the 1st quarter. Mather Group LLC. now owns 2,682 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 223 shares during the period. Finally, Ergoteles LLC acquired a new stake in shares of Eaton in the 1st quarter worth $1,188,000. Institutional investors and hedge funds own 79.10% of the company’s stock.

About Eaton

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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.

See Also

Earnings History and Estimates for Eaton (NYSE:ETN)

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