Eaton Corporation, PLC (NYSE:ETN) announced its quarterly earnings data on Tuesday. The industrial products company reported $1.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.25, Briefing.com reports. The company had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Eaton Corporation, PLC had a return on equity of 12.93% and a net margin of 9.95%. Eaton Corporation, PLC’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS.
Eaton Corporation, PLC (ETN) traded up 2.17% during midday trading on Wednesday, hitting $81.76. The company had a trading volume of 2,327,892 shares. The stock has a 50 day moving average price of $77.87 and a 200 day moving average price of $76.34. Eaton Corporation, PLC has a 52 week low of $59.07 and a 52 week high of $82.34. The company has a market capitalization of $36.37 billion, a P/E ratio of 18.74 and a beta of 1.36.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, November 2nd. This represents a $2.40 annualized dividend and a dividend yield of 3.00%. Eaton Corporation, PLC’s dividend payout ratio is presently 54.79%.
A number of equities analysts recently weighed in on the company. Jefferies Group LLC raised their price objective on Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Eaton Corporation, PLC in a report on Tuesday. Credit Suisse Group reissued an “outperform” rating and set a $92.00 price objective (up from $86.00) on shares of Eaton Corporation, PLC in a report on Wednesday. Zacks Investment Research cut Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Bank of America Corporation cut Eaton Corporation, PLC from a “buy” rating to an “underperform” rating in a report on Tuesday, October 17th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $82.50.
In other Eaton Corporation, PLC news, Director Deborah L. Mccoy sold 6,450 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.17, for a total transaction of $471,946.50. Following the sale, the director now owns 46,386 shares of the company’s stock, valued at approximately $3,394,063.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by company insiders.
About Eaton Corporation, PLC
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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