Brokerages expect that Eaton Co. plc (NYSE:ETN) will post $4.52 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Eaton’s earnings, with the lowest sales estimate coming in at $4.48 billion and the highest estimate coming in at $4.58 billion. Eaton posted sales of $4.79 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The firm is expected to issue its next earnings results on Thursday, April 29th.
On average, analysts expect that Eaton will report full-year sales of $17.78 billion for the current year, with estimates ranging from $17.27 billion to $18.21 billion. For the next fiscal year, analysts anticipate that the company will post sales of $18.83 billion, with estimates ranging from $17.48 billion to $19.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Eaton.
Eaton (NYSE:ETN) last released its earnings results on Monday, February 1st. The industrial products company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.08. Eaton had a return on equity of 11.94% and a net margin of 7.53%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the previous year, the company posted $1.37 EPS. Eaton’s revenue for the quarter was down 10.5% on a year-over-year basis.
In other Eaton news, insider Brian S. Brickhouse sold 22,758 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $135.80, for a total transaction of $3,090,536.40. Following the transaction, the insider now owns 15,587 shares in the company, valued at approximately $2,116,714.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Uday Yadav sold 11,769 shares of the company’s stock in a transaction that occurred on Thursday, February 25th. The shares were sold at an average price of $132.17, for a total transaction of $1,555,508.73. Following the transaction, the insider now owns 22,436 shares in the company, valued at approximately $2,965,366.12. The disclosure for this sale can be found here. Insiders have sold a total of 36,740 shares of company stock worth $4,945,066 over the last quarter. 0.54% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Eaton in the 4th quarter worth approximately $1,045,205,000. Lazard Asset Management LLC boosted its holdings in Eaton by 624.2% during the fourth quarter. Lazard Asset Management LLC now owns 905,233 shares of the industrial products company’s stock worth $108,754,000 after buying an additional 780,239 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Eaton by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,809,749 shares of the industrial products company’s stock valued at $697,984,000 after buying an additional 489,453 shares during the period. Wells Fargo & Company MN increased its holdings in Eaton by 12.1% in the fourth quarter. Wells Fargo & Company MN now owns 3,223,176 shares of the industrial products company’s stock valued at $387,233,000 after buying an additional 349,100 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Eaton by 338.0% in the fourth quarter. Clearbridge Investments LLC now owns 399,061 shares of the industrial products company’s stock worth $47,943,000 after acquiring an additional 307,960 shares during the period. 77.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ETN traded up $0.44 during midday trading on Friday, reaching $140.24. The company had a trading volume of 1,551,154 shares, compared to its average volume of 2,378,708. Eaton has a one year low of $70.54 and a one year high of $143.29. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average price is $137.14 and its 200-day moving average price is $121.54. The stock has a market cap of $55.87 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 30th. Stockholders of record on Tuesday, March 16th were issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, March 15th. This is an increase from Eaton’s previous quarterly dividend of $0.73. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.17%. Eaton’s payout ratio is 53.62%.
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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