Eaton (NYSE:ETN) Releases 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETN. Jefferies Financial Group lifted their target price on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Evercore ISI cut their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Mizuho raised their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James dropped their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a research report on Friday. Four investment analysts have rated the stock with a hold rating and thirteen have given 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.

Eaton Stock Up 1.0 %

Eaton stock traded up $3.42 during mid-day trading on Friday, hitting $335.00. 2,369,253 shares of the company’s stock were exchanged, compared to its average volume of 2,106,960. Eaton has a 1-year low of $211.99 and a 1-year high of $349.74. The stock has a 50 day moving average of $323.09 and a two-hundred day moving average of $318.29. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock has a market cap of $133.36 billion, a P/E ratio of 36.85, a P/E/G ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the firm posted $2.47 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts anticipate 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. Investors of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio is currently 41.36%.

Insider Buying and Selling

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Karenann K. Terrell bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $298.97 per share, with a total value of $149,485.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $149,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 in the last quarter. 0.53% of the stock is currently owned by company 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.