What is Zacks Research's Estimate for Eaton FY2024 Earnings?

Eaton Co. plc (NYSE:ETN - Free Report) - Equities research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Eaton in a research note issued on Wednesday, November 13th. Zacks Research analyst J. Saha now expects that the industrial products company will earn $10.76 per share for the year, up from their previous estimate of $10.72. The consensus estimate for Eaton's current full-year earnings is $10.79 per share. Zacks Research also issued estimates for Eaton's Q2 2025 earnings at $3.05 EPS, Q3 2025 earnings at $3.14 EPS, Q4 2025 earnings at $3.09 EPS, Q1 2026 earnings at $3.16 EPS and Q2 2026 earnings at $3.38 EPS.

Eaton (NYSE:ETN - Get Free Report) last posted 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 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business earned $2.47 earnings per share. Eaton's revenue for the quarter was up 7.9% on a year-over-year basis.

A number of other brokerages have also recently issued reports on ETN. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They set an "overweight" rating and a $370.00 target price on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $374.00 price target on shares of Eaton in a report on Friday, November 1st. Evercore ISI cut shares of Eaton from an "outperform" rating to an "inline" rating and upped their price target for the stock from $333.00 to $389.00 in a report on Wednesday. Mizuho upped their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an "outperform" rating on the stock in a report on Monday, September 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $357.83.

Eaton Stock Performance

ETN stock traded down $2.87 during midday trading on Friday, reaching $358.99. 2,230,221 shares of the company's stock traded hands, compared to its average volume of 2,112,767. The company has a 50-day moving average price of $334.34 and a two-hundred day moving average price of $321.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. Eaton has a 52 week low of $224.52 and a 52 week high of $373.49. The firm has a market capitalization of $141.87 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.01.

Eaton Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton's dividend payout ratio is currently 40.00%.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company's stock, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now directly owns 51,422 shares of the company's stock, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,705 shares of company stock worth $24,516,346. Company insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Eaton

Institutional investors and hedge funds have recently made changes to their positions in the business. Breakwater Investment Management increased its stake in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Eaton during the second quarter valued at approximately $29,000. Morse Asset Management Inc bought a new stake in shares of Eaton during the third quarter valued at approximately $33,000. LGT Financial Advisors LLC bought a new stake in shares of Eaton during the second quarter valued at approximately $33,000. Finally, West Financial Advisors LLC bought a new stake in shares of Eaton during the third quarter valued at approximately $35,000. Institutional investors own 82.97% 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.