Eaton (NYSE:ETN) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.19, MarketWatch Earnings reports. Eaton had a net margin of 7.53% and a return on equity of 11.94%. The company had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. Eaton’s quarterly revenue was down 1.9% on a year-over-year basis.
Eaton stock traded down $0.01 during trading on Tuesday, hitting $144.35. The company’s stock had a trading volume of 60,062 shares, compared to its average volume of 2,253,211. The stock has a market capitalization of $57.50 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 2.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.49. The stock’s fifty day moving average is $139.77 and its 200 day moving average is $125.13. Eaton has a 1-year low of $70.54 and a 1-year high of $145.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $3.04 annualized dividend and a yield of 2.11%. Eaton’s payout ratio is currently 53.62%.
ETN has been the topic of a number of research reports. Morgan Stanley upgraded shares of Eaton from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $155.00 in a report on Tuesday, March 9th. HSBC upgraded Eaton from a “hold” rating to a “buy” rating and upped their price objective for the company from $103.00 to $140.00 in a research report on Tuesday, February 16th. Royal Bank of Canada boosted their target price on Eaton from $112.00 to $119.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 3rd. They noted that the move was a valuation call. Jefferies Financial Group raised their price target on Eaton from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of Eaton from $142.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, March 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Eaton has a consensus rating of “Buy” and a consensus target price of $136.94.
In other Eaton news, insider Brian S. Brickhouse sold 22,758 shares of Eaton stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $135.80, for a total value of $3,090,536.40. Following the completion of the transaction, the insider now owns 15,587 shares of the company’s stock, valued at $2,116,714.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Uday Yadav sold 11,769 shares of the stock in a transaction on Thursday, February 25th. The stock was sold at an average price of $132.17, for a total value of $1,555,508.73. Following the completion of the sale, the insider now directly owns 22,436 shares in the company, valued at $2,965,366.12. The disclosure for this sale can be found here. Insiders have sold 36,740 shares of company stock valued at $4,945,066 over the last 90 days. 0.54% of the stock is currently owned by insiders.
Eaton Corporation plc operates as a power management company. Its Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services in North and South America, as well as hazardous duty electrical, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems internationally.
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