Eaton Corporation, PLC (NYSE:ETN) – Equities researchers at Oppenheimer Holdings lifted their FY2017 earnings per share (EPS) estimates for shares of Eaton Corporation, PLC in a report released on Tuesday. Oppenheimer Holdings analyst C. Glynn now anticipates that the industrial products company will post earnings per share of $4.61 for the year, up from their previous estimate of $4.60. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Eaton Corporation, PLC’s Q4 2017 earnings at $1.25 EPS, Q1 2018 earnings at $1.07 EPS, Q2 2018 earnings at $1.27 EPS, Q3 2018 earnings at $1.35 EPS, Q4 2018 earnings at $1.31 EPS and FY2018 earnings at $5.00 EPS.
Other equities analysts have also recently issued reports about the company. BidaskClub cut Eaton Corporation, PLC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Citigroup Inc. raised their price objective on Eaton Corporation, PLC from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine upgraded Eaton Corporation, PLC from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Stifel Nicolaus restated a “hold” rating and set a $80.00 price objective on shares of Eaton Corporation, PLC in a research note on Friday, July 7th. Finally, Jefferies Group LLC raised their target price on Eaton Corporation, PLC from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $82.64.
ILLEGAL ACTIVITY NOTICE: “Oppenheimer Holdings Comments on Eaton Corporation, PLC’s FY2017 Earnings (ETN)” was published by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.com-unik.info/2017/11/03/oppenheimer-holdings-comments-on-eaton-corporation-plcs-fy2017-earnings-etn.html. Eaton Corporation, PLC (NYSE:ETN) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.25. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.12 billion. Eaton Corporation, PLC had a net margin of 14.21% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, November 2nd. Eaton Corporation, PLC’s dividend payout ratio (DPR) is currently 37.68%.
In related news, Director Deborah L. Mccoy sold 6,450 shares of Eaton Corporation, PLC stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $73.17, for a total value of $471,946.50. Following the completion of 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 SEC, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in Eaton Corporation, PLC by 17.0% in the 1st quarter. Bank of America Corp DE now owns 6,407,605 shares of the industrial products company’s stock worth $475,123,000 after acquiring an additional 932,400 shares during the last quarter. Vanguard Group Inc. grew its holdings in Eaton Corporation, PLC by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 30,348,561 shares of the industrial products company’s stock valued at $2,250,347,000 after buying an additional 695,285 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Eaton Corporation, PLC by 8.2% during the 1st quarter. Lazard Asset Management LLC now owns 5,849,259 shares of the industrial products company’s stock valued at $433,722,000 after buying an additional 443,090 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in Eaton Corporation, PLC by 0.5% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 312,454 shares of the industrial products company’s stock valued at $24,318,000 after buying an additional 1,455 shares in the last quarter. Finally, UBS Group AG grew its holdings in Eaton Corporation, PLC by 1.6% during the 1st quarter. UBS Group AG now owns 1,810,784 shares of the industrial products company’s stock valued at $134,270,000 after buying an additional 28,426 shares in the last quarter. 76.03% of the stock is owned by institutional investors.
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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