Eaton Corporation, PLC $ETN Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in Eaton Corporation by 21.4%, now holding approximately 345,446 shares worth $92.28 million.
• Multiple investment analysts have recently raised their price targets for Eaton, with Goldman Sachs increasing it from $345.00 to $382.00 and Raymond James from $380.00 to $415.00, reflecting a positive outlook on the stock.
• Eaton reported quarterly earnings of $2.95 EPS, surpassing estimates, and declared a quarterly dividend of $1.04 per share, indicating a 1.2% yield for investors.

AQR Capital Management LLC lowered its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 21.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 345,446 shares of the industrial products company's stock after selling 94,148 shares during the quarter. AQR Capital Management LLC owned about 0.09% of Eaton worth $92,284,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ETN. Nuveen LLC purchased a new position in shares of Eaton in the 1st quarter valued at about $1,472,231,000. GAMMA Investing LLC increased its holdings in shares of Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after acquiring an additional 3,580,198 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Eaton by 85.4% in the 1st quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company's stock valued at $986,966,000 after acquiring an additional 1,672,175 shares during the last quarter. Fayez Sarofim & Co increased its holdings in shares of Eaton by 606.3% in the 1st quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company's stock valued at $282,262,000 after acquiring an additional 880,656 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in shares of Eaton in the 4th quarter valued at about $231,552,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Eaton stock traded up $13.12 during mid-day trading on Wednesday, reaching $361.35. 1,118,406 shares of the company were exchanged, compared to its average volume of 2,931,180. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The firm's 50-day simple moving average is $361.99 and its two-hundred day simple moving average is $322.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. The firm has a market cap of $140.67 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16.

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 return on equity of 23.91% and a net margin of 15.11%.The company had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same period last year, the firm earned $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. Equities analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

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 $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 7th. Eaton's dividend payout ratio (DPR) is currently 41.85%.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Sanford C. Bernstein reissued an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research report on Monday, July 14th. Redburn Atlantic began coverage on Eaton in a research note on Wednesday, August 20th. They set a "hold" rating and a $336.00 price target on the stock. BNP Paribas Exane began coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Finally, Raymond James Financial raised their price target on Eaton from $380.00 to $415.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $379.10.

Insider Activity at Eaton

In other news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction that occurred on 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 directly owned 630 shares of the company's stock, valued at $225,785.70. This trade represents a 96.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Eaton Company Profile

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.