Key Developments: Eaton Corporation PLC (ETN.N)
69.93USD
1 Aug 2013
$1.40 (+2.04%)
$68.95
$69.36
$70.07
$69.36
682,376
653,491
$70.07
$42.41
Latest Key Developments (Source: Significant Developments)
Eaton Corp PLC Declares Quarterly Dividend
Eaton Corp PLC announced that it has declared a quarterly dividend of $0.42 per ordinary share payable August 23, 2013 to shareholders of record at the close of business on August 5, 2013. Full Article
Eaton Corp PLC Not Selling Auto Parts Business-DJ
Dow Jones reported that Eaton Corp PLC said the diversified industrial company has no plans to sell its automotive components business. Bloomberg News reported that Eaton is mulling the sale its auto parts unit, citing unidentified people with knowledge of the matter. The report said the sale would allow the conglomerate to focus more on its electrical products businesses following its acquisition last year of Cooper PLC. Chief Executive Mr. Cutler dismissed the report during remarks at an investor conference in Chicago sponsored by Deutsche Bank. Full Article
Eaton Corp PLC Reaffirms FY 2013 Revenue Guidance-Conference Call
Eaton Corp PLC announced that for the second quarter of 2013, it expects revenues in total for the Company being up between 5% to 10% still looks pretty much on track. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $5.780 billion for the second quarter of 2013. Full Article
Eaton Corp PLC Issues Q2 2013 EPS Guidance In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
Eaton Corp PLC announced that it anticipates operating earnings per share (EPS) for the second quarter of 2013, which exclude an estimated $25 million of charges to integrate recent acquisitions, to be between $1.05 and $1.15. There are two primary drivers of the expected increase in second quarter operating earnings per share over the first quarter: first, seasonally higher volumes, since sales in the second quarter are typically 5% to 10% higher, and second, the absence of purchase price inventory expense in the second quarter related to the Cooper Industries acquisition. The Company has maintained guidance for fiscal 2013 operating EPS of between $4.05 and $4.45. Based on the midpoint of guidance, operating EPS to grow 8% in fiscal 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $4.35 for fiscal 2013; EPS of $1.12 for the second quarter of 2013. Full Article
Eaton Corp PLC Announces Quarterly Dividend Payable May 24, 2013
Eaton Corp PLC announced that it has declared a quarterly dividend of $0.42 per ordinary share payable May 24, 2013 to shareholders of record at the close of business on May 6, 2013. Full Article
Eaton Corp PLC Declares Quarterly Cash Dividend
Eaton Corp PLC announced that the Board of Directors declared an 11% increase in the quarterly cash dividend from $0.38 per common share to $0.42 per common share. The dividend is payable March 22, 2013 to shareholders of record at the close of business on March 11, 2013. Full Article
Eaton Corp PLC Issues FY 2013 Revenue Guidance Above Analysts' Estimates; Issues Q1, FY 2013 EPS Guidance-Conference Call
Eaton Corp PLC announced that for fiscal 2013, it expects revenue growth to be 42% and mid-point of operating EPS to be at $4.25. For the first quarter of 2013, it expects mid-point of operating EPS to be at $0.75. The Company reported revenue of $16.31 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $22.24 billion and EPS of $4.42 for fiscal 2013; EPS of $0.89 for the first quarter of 2013. Full Article
Eaton Corp`s Pending Acquisition Of Cooper Approved By Irish High Court
Eaton Corp and Cooper Industries plc announced that the Irish High Court has approved Eaton`s acquisition of Cooper. As previously announced, on May 21, 2012, Eaton and Cooper entered into a transaction agreement by which Eaton will acquire Cooper through the formation of a new Irish holding company that has been renamed Eaton Corporation plc ("New Eaton"). The acquisition of Cooper will be effected by a "scheme of arrangement" under Irish law and, in connection with the acquisition, Eaton will merge with a subsidiary of New Eaton. Following the consummation of these transactions, both Eaton and Cooper will be wholly owned subsidiaries of New Eaton. With the Court`s approval of the scheme of arrangement, Eaton and Cooper anticipate that the transaction will close on November 30, 2012. Trading of Eaton and Cooper will continue on the New York Stock Exchange until the end of the day on the date of the transaction closing, and the ordinary shares of Eaton Corporation plc are expected to begin trading on the New York Stock Exchange under the symbol ETN on the first trading day after the closing date. Terms of the transaction were not disclosed. Full Article
Eaton Corp`s Pending Acquisition Of Cooper Approved By Irish High Court
Eaton Corp and Cooper Industries plc announced that the Irish High Court has approved Eaton`s acquisition of Cooper. As previously announced, on May 21, 2012, Eaton and Cooper entered into a transaction agreement by which Eaton will acquire Cooper through the formation of a new Irish holding company that has been renamed Eaton Corporation plc ("New Eaton"). The acquisition of Cooper will be effected by a "scheme of arrangement" under Irish law and, in connection with the acquisition, Eaton will merge with a subsidiary of New Eaton. Following the consummation of these transactions, both Eaton and Cooper will be wholly owned subsidiaries of New Eaton. With the Court`s approval of the scheme of arrangement, Eaton and Cooper anticipate that the transaction will close on November 30, 2012. Trading of Eaton and Cooper will continue on the New York Stock Exchange until the end of the day on the date of the transaction closing, and the ordinary shares of Eaton Corporation plc are expected to begin trading on the New York Stock Exchange under the symbol ETN on the first trading day after the closing date. Terms of the transaction were not disclosed. Full Article
Eaton Corp Issues Q4 2012 Revenue Guidance Below Analysts' Estimates
Eaton Corp announced that for the fourth quarter of 2012 it anticipate its sales, prior to any impact from the close of the Cooper transaction, are likely to be about the same as the third quarter of 2012. The Company reported sales of $3.95 billion in the third quarter of 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $4.19 billion for the fourth quarter of 2012. Full Article
U.S. Tax Court rules it can hear IRS, Eaton Corp tax dispute
WASHINGTON - The U.S. Tax Court said on Wednesday it has jurisdiction to hear a $126.5 million tax dispute between the Internal Revenue Service and Eaton Corp , and that a trial may be scheduled soon.

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