Eaton (NYSE:ETN) Posts Earnings Results, Beats Expectations By $0.04 EPS

Eaton (NYSE:ETN) announced its quarterly earnings results on Thursday. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04, Briefing.com reports. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis.

Eaton Trading Up 1.0 %

NYSE:ETN opened at $335.00 on Friday. The company’s 50 day moving average price is $323.09 and its 200-day moving average price is $318.31. Eaton has a 52 week low of $211.99 and a 52 week high of $349.74. The company has a quick ratio of 1.07, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market cap of $133.36 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 2.53 and a beta of 1.01.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s payout ratio is 40.00%.

Insider Activity

In other news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the transaction, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dorothy C. Thompson acquired 2,205 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the transaction, the director now owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 over the last 90 days. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Mizuho increased their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price target on shares of Eaton in a research report on Friday. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Evercore ISI reduced their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $341.00.

Eaton Company Profile

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.