Eaton Corporation, PLC $ETN Shares Acquired by Avalon Global Asset Management LLC

Key Points

• Avalon Global Asset Management LLC increased its stake in Eaton Corporation by 5.5% after purchasing an additional 2,500 shares, bringing their total holdings to 47,600 shares valued at approximately $12.9 million.
• Several analysts have issued positive ratings for Eaton, with Morgan Stanley and Citigroup raising their price targets to $425.00, while the stock has an average analyst rating of "Moderate Buy".
• Eaton Corporation reported a 10.7% year-over-year revenue increase in its latest quarter, achieving $7.03 billion in revenue and exceeding earnings expectations with $2.95 EPS.

Avalon Global Asset Management LLC lifted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,600 shares of the industrial products company's stock after purchasing an additional 2,500 shares during the quarter. Eaton makes up 1.8% of Avalon Global Asset Management LLC's investment portfolio, making the stock its 14th biggest holding. Avalon Global Asset Management LLC's holdings in Eaton were worth $12,939,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Eaton by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock worth $10,195,725,000 after acquiring an additional 289,819 shares during the period. Nuveen LLC acquired a new position in Eaton during the first quarter worth $1,472,231,000. Nuveen Asset Management LLC raised its holdings in Eaton by 4.3% during the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after purchasing an additional 192,482 shares during the last quarter. Northern Trust Corp increased its position in Eaton by 8.8% during the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock worth $1,518,207,000 after buying an additional 368,241 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Eaton by 12.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock worth $1,083,442,000 after buying an additional 427,509 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 1.7%

Eaton stock traded down $6.21 during midday trading on Friday, reaching $349.13. The stock had a trading volume of 2,386,036 shares, compared to its average volume of 2,458,865. The stock's 50-day simple moving average is $362.10 and its 200 day simple moving average is $320.99. The stock has a market capitalization of $135.92 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. The company had revenue of $7.03 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $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. Analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 7th. Eaton's payout ratio is currently 41.85%.

Insider Activity at Eaton

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the business's stock in a transaction dated 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 transaction, the insider owned 630 shares in the company, valued at $225,785.70. The trade was a 96.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETN. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Royal Bank Of Canada raised their price target on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Raymond James Financial lifted their price objective on Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI lifted their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $379.10.

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.