SCS Capital Management LLC Invests $815,000 in Eaton Corporation, PLC $ETN

Key Points

• SCS Capital Management LLC acquired 2,997 shares of Eaton Corporation, PLC, valued at approximately $815,000, indicating growing institutional interest in the company.
• Multiple research firms have rated Eaton, with an average target price of $379.10 and 14 analysts giving it a "Buy" rating.
• Eaton recently reported better-than-expected earnings, with $2.95 earnings per share and a revenue of $7.03 billion for the quarter, resulting in a year-over-year revenue increase of 10.7%.

SCS Capital Management LLC bought a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,997 shares of the industrial products company's stock, valued at approximately $815,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Eaton by 0.7% during the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after purchasing an additional 96 shares in the last quarter. Brighton Jones LLC raised its position in shares of Eaton by 4.9% during the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after purchasing an additional 164 shares during the last quarter. Kennebec Savings Bank lifted its stake in Eaton by 5.4% in the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after buying an additional 139 shares in the last quarter. American National Bank & Trust lifted its stake in Eaton by 5.4% in the 1st 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 in the last quarter. Finally, Castle Rock Wealth Management LLC boosted its holdings in Eaton by 7.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock worth $2,575,000 after buying an additional 543 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ETN. Sanford C. Bernstein reissued an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a research note on Monday, July 14th. KeyCorp increased their target price on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group raised their price target on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Rothschild Redb raised shares of Eaton to a "hold" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company raised their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.59.

Insider Activity

In related news, insider Olivier Leonetti sold 16,018 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $358.39, for a total value of $5,740,691.02. Following the sale, the insider directly owned 630 shares in the company, valued at approximately $225,785.70. The trade was a 96.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company's stock.

Eaton Trading Up 1.7%

ETN stock traded up $6.23 during trading on Friday, reaching $366.31. 3,108,319 shares of the stock were exchanged, compared to its average volume of 1,837,146. 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 firm has a market capitalization of $142.60 billion, a price-to-earnings ratio of 36.85, a P/E/G ratio of 2.57 and a beta of 1.16. The business has a 50 day moving average price of $362.13 and a 200-day moving average price of $324.20. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) 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 business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm earned $2.73 EPS. The business's revenue was up 10.7% compared to the same quarter last year. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.1%. Eaton's dividend payout ratio 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.