What is Zacks Research’s Estimate for Eaton FY2024 Earnings?

Eaton Co. plc (NYSE:ETN) – Analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Eaton in a report issued on Wednesday, November 13th. Zacks Research analyst J. Saha now expects that the industrial products company will post earnings of $10.76 per share for the year, up from their prior forecast of $10.72. The consensus estimate for Eaton’s current full-year earnings is $10.79 per share. Zacks Research also issued estimates for Eaton’s Q2 2025 earnings at $3.05 EPS, Q3 2025 earnings at $3.14 EPS, Q4 2025 earnings at $3.09 EPS, Q1 2026 earnings at $3.16 EPS and Q2 2026 earnings at $3.38 EPS.

Several other equities analysts also recently weighed in on the company. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Morgan Stanley initiated coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price objective for the company from $333.00 to $389.00 in a report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Eaton in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Stock Performance

NYSE ETN opened at $361.85 on Friday. The company has a market cap of $143.00 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business’s 50 day moving average price is $332.81 and its 200-day moving average price is $320.84. Eaton has a fifty-two week low of $224.52 and a fifty-two week high of $373.49.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ETN. Capital World Investors increased its holdings in shares of Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eaton by 253.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the period. International Assets Investment Management LLC grew its holdings in Eaton by 27,075.5% during the third quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Swedbank AB acquired a new stake in Eaton during the second quarter worth about $225,974,000. Finally, Assenagon Asset Management S.A. grew its holdings in Eaton by 1,604.4% during the second quarter. Assenagon Asset Management S.A. now owns 673,579 shares of the industrial products company’s stock worth $211,201,000 after acquiring an additional 634,059 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eaton

In other Eaton news, Director Karenann K. Terrell bought 500 shares of Eaton stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average cost of $298.97 per share, with a total value of $149,485.00. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. This represents a 44.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,705 shares of company stock valued at $24,516,346 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.