Allstate Corp Raises Stake in Eaton Corporation, PLC $ETN

Key Points

• Allstate Corp increased its Eaton stake by 105.4% in the fourth quarter, ending with 29,037 shares valued at about $9.25 million.
• Eaton reported strong quarterly results, with EPS of $2.81 beating estimates and revenue of $7.45 billion topping forecasts; it also raised guidance for Q2 2026 and FY 2026.
• Analysts remain upbeat on the stock, with a consensus rating of Moderate Buy and an average price target of $420.95. Eaton also declared a quarterly dividend of $1.10 per share, or $4.40 annually.

Allstate Corp raised its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 105.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,037 shares of the industrial products company's stock after acquiring an additional 14,900 shares during the period. Allstate Corp's holdings in Eaton were worth $9,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ETN. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Eaton in the 4th quarter valued at about $97,989,000. SG Americas Securities LLC raised its holdings in shares of Eaton by 438.9% in the 4th quarter. SG Americas Securities LLC now owns 364,877 shares of the industrial products company's stock valued at $116,217,000 after acquiring an additional 297,166 shares in the last quarter. Fayez Sarofim & Co raised its holdings in shares of Eaton by 3.4% in the 3rd quarter. Fayez Sarofim & Co now owns 1,256,177 shares of the industrial products company's stock valued at $474,444,000 after acquiring an additional 40,792 shares in the last quarter. Norris Perne & French LLP MI purchased a new stake in shares of Eaton in the 4th quarter valued at about $7,893,000. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in shares of Eaton by 9.2% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 238,030 shares of the industrial products company's stock valued at $75,815,000 after acquiring an additional 19,958 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson sold 167 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $385.00, for a total value of $64,295.00. Following the completion of the sale, the director owned 1,096 shares in the company, valued at approximately $421,960. This trade represents a 13.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald Johnson acquired 746 shares of the company's stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $402.29 per share, with a total value of $300,108.34. Following the acquisition, the director owned 1,414 shares in the company, valued at approximately $568,838.06. This trade represents a 111.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 21,028 shares of company stock worth $8,614,793 over the last quarter. Company insiders own 0.10% of the company's stock.

Eaton Price Performance

ETN opened at $391.73 on Tuesday. The stock's 50 day simple moving average is $388.28 and its 200 day simple moving average is $362.17. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.19 and a quick ratio of 0.75. Eaton Corporation, PLC has a 1 year low of $311.90 and a 1 year high of $435.43. The firm has a market cap of $152.11 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.51 and a beta of 1.24.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.08. Eaton had a return on equity of 24.72% and a net margin of 13.99%.The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period last year, the company earned $2.72 EPS. Eaton's revenue for the quarter was up 16.8% compared to the same quarter last year. Eaton has set its Q2 2026 guidance at 3.000-3.100 EPS and its FY 2026 guidance at 13.050-13.500 EPS. As a group, analysts predict that Eaton Corporation, PLC will post 13.33 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 8th. Eaton's dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ETN shares. Erste Group Bank started coverage on Eaton in a report on Tuesday, May 5th. They issued a "buy" rating on the stock. KeyCorp raised their price target on Eaton from $420.00 to $480.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price objective on Eaton from $406.00 to $445.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Citigroup increased their price objective on Eaton from $464.00 to $471.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price objective on Eaton from $350.00 to $425.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and an average target price of $420.95.

Eaton Profile

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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