Eaton (NYSE:ETN) Issues Earnings Results

Eaton (NYSE:ETN) posted its earnings results on Tuesday. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02, RTT News reports. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Eaton had a return on equity of 14.80% and a net margin of 10.16%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share.

Shares of ETN traded down $0.29 during trading hours on Friday, hitting $79.68. The stock had a trading volume of 163,252 shares, compared to its average volume of 2,075,290. The company has a quick ratio of 0.92, a current ratio of 1.83 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $81.15. The firm has a market cap of $35.17 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.62 and a beta of 1.47. Eaton has a 1-year low of $64.46 and a 1-year high of $89.46.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be paid a $0.71 dividend. The ex-dividend date is Thursday, August 1st. This represents a $2.84 annualized dividend and a dividend yield of 3.56%. Eaton’s dividend payout ratio is presently 52.69%.

In related news, Director Olivier Leonetti purchased 630 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average price of $79.08 per share, with a total value of $49,820.40. Following the acquisition, the director now owns 127 shares of the company’s stock, valued at approximately $10,043.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dorothy C. Thompson purchased 1,655 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $78.54 per share, for a total transaction of $129,983.70. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

Several research analysts have recently weighed in on the company. Royal Bank of Canada set a $84.00 price objective on Eaton and gave the stock a “hold” rating in a research report on Wednesday. Deutsche Bank set a $96.00 price objective on Eaton and gave the company a “buy” rating in a research note on Wednesday. Barclays reaffirmed a “sell” rating and issued a $76.00 target price on shares of Eaton in a research report on Thursday, June 6th. Bank of America downgraded Eaton from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Thursday, April 4th. Finally, Morgan Stanley raised their target price on Eaton from $88.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Eaton currently has an average rating of “Hold” and an average target price of $89.00.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

Featured Article: Understanding debt-to-equity ratio in fundamental analysis

Earnings History for Eaton (NYSE:ETN)

Receive News & Ratings for Eaton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton and related companies with's FREE daily email newsletter.