Legacy Advisory Services LLC Makes New Investment in Eaton Corporation, PLC $ETN

Key Points

• Legacy Advisory Services LLC acquired 1,230 shares of Eaton Corporation worth approximately $334,000 during the first quarter, amidst increased interest from other hedge funds.
• Several analysts have raised their price targets for Eaton, with an average target of $379.10 and multiple firms issuing "buy" ratings.
• Eaton recently reported earnings of $2.95 per share, surpassing analysts' expectations, with a 10.7% revenue increase compared to the previous year.

Legacy Advisory Services LLC purchased a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,230 shares of the industrial products company's stock, valued at approximately $334,000.

Other hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in Eaton during the first quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in Eaton during the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV lifted its holdings in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares during the period. Vermillion Wealth Management Inc. bought a new stake in Eaton during the fourth quarter worth $33,000. Finally, Abound Wealth Management lifted its holdings in Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after acquiring an additional 62 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ETN. Redburn Atlantic initiated coverage on Eaton in a report on Wednesday, August 20th. They set a "hold" rating and a $336.00 price target on the stock. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. BNP Paribas initiated coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. KeyCorp raised their target price on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Raymond James Financial raised their target price on Eaton from $380.00 to $415.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $379.59.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of Eaton stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the completion of the sale, the insider owned 630 shares of the company's stock, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Performance

Shares of NYSE ETN traded up $6.23 during mid-day trading on Friday, hitting $366.31. The company had a trading volume of 3,108,319 shares, compared to its average volume of 2,942,599. The company has a market capitalization of $142.60 billion, a price-to-earnings ratio of 36.85, a P/E/G ratio of 2.59 and a beta of 1.16. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $362.04 and its 200-day moving average price is $323.66.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.03. The company had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $2.73 earnings per share. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.1%. Eaton's dividend payout ratio (DPR) is currently 41.85%.

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.