Eaton Co., PLC (NYSE:ETN) – Stock analysts at Oppenheimer cut their Q1 2018 earnings per share estimates for Eaton in a report released on Wednesday. Oppenheimer analyst C. Glynn now forecasts that the industrial products company will earn $1.05 per share for the quarter, down from their previous estimate of $1.07. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Eaton’s Q2 2018 earnings at $1.30 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.37 EPS, FY2018 earnings at $5.10 EPS and FY2019 earnings at $5.40 EPS.
Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The firm had revenue of $5.21 billion during the quarter, compared to analyst estimates of $5.10 billion. Eaton had a net margin of 14.60% and a return on equity of 12.84%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS.
Shares of Eaton (NYSE ETN) opened at $80.77 on Friday. The firm has a market cap of $34,990.00, a P/E ratio of 12.09, a PEG ratio of 1.83 and a beta of 1.38. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.41. Eaton has a 1-year low of $69.82 and a 1-year high of $89.85.
Institutional investors have recently modified their holdings of the business. Cable Hill Partners LLC increased its position in Eaton by 174.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 867 shares during the period. Independence Bank of Kentucky purchased a new position in Eaton during the 4th quarter valued at $118,000. Fieldpoint Private Securities LLC purchased a new position in Eaton during the 3rd quarter valued at $130,000. Murphy Capital Management Inc. purchased a new position in Eaton during the 4th quarter valued at $201,000. Finally, Montag A & Associates Inc. purchased a new position in Eaton during the 4th quarter valued at $201,000. 76.63% of the stock is currently owned by institutional investors and hedge funds.
In other Eaton news, insider Curtis J. Hutchins sold 14,360 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $78.36, for a total transaction of $1,125,249.60. Following the transaction, the insider now directly owns 26,596 shares of the company’s stock, valued at approximately $2,084,062.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nandakumar Cheruvatath sold 10,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $77.50, for a total transaction of $775,000.00. Following the transaction, the insider now directly owns 16,571 shares in the company, valued at $1,284,252.50. The disclosure for this sale can be found here. Insiders have sold a total of 28,745 shares of company stock valued at $2,233,669 over the last quarter. 0.80% of the stock is currently owned by company insiders.
Eaton Company Profile
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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