Equities analysts expect Eaton Co., PLC (NYSE:ETN) to post $5.14 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Eaton Co., PLC’s earnings, with the highest sales estimate coming in at $5.21 billion and the lowest estimate coming in at $5.07 billion. Eaton Co., PLC reported sales of $5.08 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.2%. The company is expected to issue its next earnings results before the market opens on Tuesday, August 1st.
According to Zacks, analysts expect that Eaton Co., PLC will report full year sales of $5.14 billion for the current financial year, with estimates ranging from $19.91 billion to $20.23 billion. For the next financial year, analysts anticipate that the firm will post sales of $21.78 billion per share, with estimates ranging from $20.57 billion to $31.06 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Eaton Co., PLC.
Eaton Co., PLC (NYSE:ETN) last issued its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. Eaton Co., PLC had a return on equity of 12.82% and a net margin of 9.86%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year.
ETN has been the topic of several analyst reports. Zacks Investment Research raised shares of Eaton Co., PLC from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Wednesday, April 19th. Longbow Research raised shares of Eaton Co., PLC from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 4th. Citigroup Inc. lifted their price target on shares of Eaton Co., PLC from $80.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, April 3rd. Credit Suisse Group AG reissued a “buy” rating on shares of Eaton Co., PLC in a research report on Tuesday, March 28th. Finally, Argus reissued a “buy” rating and issued a $85.00 target price (up previously from $83.00) on shares of Eaton Co., PLC in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.54.
In other news, insider Uday Yadav sold 3,034 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $76.08, for a total transaction of $230,826.72. Following the sale, the insider now owns 22,601 shares of the company’s stock, valued at $1,719,484.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard H. Fearon sold 25,000 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $76.24, for a total value of $1,906,000.00. Following the sale, the insider now directly owns 236,497 shares in the company, valued at approximately $18,030,531.28. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its position in shares of Eaton Co., PLC by 9.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,402 shares of the industrial products company’s stock worth $104,000 after buying an additional 120 shares during the last quarter. Harfst & Associates Inc. purchased a new position in shares of Eaton Co., PLC during the first quarter worth approximately $109,000. Tompkins Financial Corp purchased a new position in shares of Eaton Co., PLC during the first quarter worth approximately $124,000. Guardian Life Insurance Co. of America increased its position in shares of Eaton Co., PLC by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,742 shares of the industrial products company’s stock worth $129,000 after buying an additional 12 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in shares of Eaton Co., PLC during the first quarter worth approximately $137,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Eaton Co., PLC (NYSE:ETN) traded down 0.74% during midday trading on Wednesday, hitting $78.97. The stock had a trading volume of 2,436,414 shares. Eaton Co., PLC has a 52-week low of $59.07 and a 52-week high of $81.63. The firm’s 50 day moving average price is $77.76 and its 200 day moving average price is $74.22. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 18.40 and a beta of 1.35.
Eaton Co., PLC Company Profile
Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.
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