1248 Management LLC Cuts Stock Holdings in Eaton Corporation, PLC $ETN

Key Points

• 1248 Management LLC significantly reduced its stake in Eaton Corporation by 39.3%, leaving it with 2,695 shares valued at approximately $733,000 as of the latest reporting period.
• Eaton's latest earnings report showed an EPS of $2.95, surpassing expectations, with a revenue of $7.03 billion for the quarter, representing a 10.7% year-over-year increase.
• The company recently declared a quarterly dividend of $1.04, with an annualized yield of 1.2% and a payout ratio of 41.85%.

1248 Management LLC cut its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 39.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,695 shares of the industrial products company's stock after selling 1,747 shares during the quarter. 1248 Management LLC's holdings in Eaton were worth $733,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Eaton by 0.7% in the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after buying an additional 96 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Eaton by 4.9% in the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after acquiring an additional 164 shares during the period. Kennebec Savings Bank boosted its position in shares of Eaton by 5.4% in the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after acquiring an additional 139 shares during the period. American National Bank & Trust boosted its stake in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock valued at $855,000 after buying an additional 162 shares during the period. Finally, Castle Rock Wealth Management LLC increased its position in shares of Eaton by 7.0% in the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock worth $2,575,000 after purchasing an additional 543 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Price Performance

Shares of ETN stock traded up $10.09 on Monday, reaching $375.99. The company's stock had a trading volume of 3,030,475 shares, compared to its average volume of 2,943,101. The stock's fifty day simple moving average is $362.13 and its 200-day simple moving average is $324.63. 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 company has a market capitalization of $146.37 billion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17.

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 for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $2.73 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. Analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, August 7th. Eaton's payout ratio is 41.85%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ETN. KeyCorp boosted their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Redburn Atlantic assumed coverage on shares of Eaton in a research report on Wednesday, August 20th. They set a "hold" rating and a $336.00 price objective on the stock. Barclays boosted their price objective on shares of Eaton from $340.00 to $344.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Citigroup upped their target price on shares of Eaton from $420.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price objective on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $390.68.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $358.39, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company's stock.

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.