Eaton Corporation, PLC (ETN) Releases Earnings Results, Meets Estimates

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, 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.

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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.

Earnings History for Eaton Corporation, PLC (NYSE:ETN)

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