Eaton (NYSE:ETN) Releases Earnings Results, Beats Expectations By $0.12 EPS

Eaton (NYSE:ETN) announced its quarterly earnings results on Tuesday. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12, Briefing.com reports. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share.

Eaton Trading Down 2.0 %

Eaton stock opened at $312.03 on Thursday. Eaton has a one year low of $165.24 and a one year high of $333.05. The business’s fifty day moving average is $307.35 and its 200 day moving average is $260.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.02. The stock has a market capitalization of $124.66 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research restated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI increased their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Barclays raised shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Bank of America raised their target price on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $302.93.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,969 shares of company stock worth $10,904,774. Company insiders own 0.53% of the company’s stock.

About Eaton

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.