Eaton (NYSE:ETN) Issues Q4 2024 Earnings Guidance

Eaton (NYSE:ETN) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.780-2.840 for the period, compared to the consensus earnings per share estimate of 2.810. The company issued revenue guidance of -. Eaton also updated its FY 2024 guidance to 10.750-10.810 EPS.

Eaton Trading Up 1.0 %

Shares of ETN stock traded up $3.42 during mid-day trading on Friday, reaching $335.00. The company’s stock had a trading volume of 2,369,253 shares, compared to its average volume of 2,106,960. The company’s 50 day simple moving average is $323.09 and its 200-day simple moving average is $318.29. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. Eaton has a 12-month low of $211.99 and a 12-month high of $349.74. The firm has a market capitalization of $133.36 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company posted $2.47 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, research analysts predict that Eaton will post 10.75 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is 41.36%.

Analyst Ratings Changes

ETN has been the subject of several analyst reports. Citigroup started coverage on shares of Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Raymond James dropped their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley initiated coverage on Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $341.00.

Insider Activity at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly 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 document filed with the SEC, which is available at this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,511 shares of company stock worth $15,809,326 over the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

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.