Bartlett & CO. Wealth Management LLC Buys 162,958 Shares of Eaton Corporation, PLC $ETN

Key Points

• Bartlett & CO. Wealth Management LLC increased its stake in Eaton Corporation by 457.6%, acquiring 162,958 shares in the second quarter, bringing its total holdings to 198,567 shares worth approximately $70.9 million.
• Institutional investors hold 82.97% of Eaton's stock, indicating strong interest from large financial entities, with several hedge funds making significant adjustments to their positions in the company.
• Analysts have raised their price targets for Eaton, with Morgan Stanley increasing its target to $425.00 and maintaining an "overweight" rating, contributing to a consensus rating of "Moderate Buy" with an average price target of $390.68.

Bartlett & CO. Wealth Management LLC lifted its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 457.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,567 shares of the industrial products company's stock after purchasing an additional 162,958 shares during the quarter. Eaton accounts for about 1.0% of Bartlett & CO. Wealth Management LLC's portfolio, making the stock its 29th largest position. Bartlett & CO. Wealth Management LLC owned about 0.05% of Eaton worth $70,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ETN. IMA Advisory Services Inc. acquired a new stake in Eaton during the 1st quarter worth approximately $25,000. Creative Financial Designs Inc. ADV boosted its position in Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after buying an additional 51 shares during the period. Abound Wealth Management boosted its position in Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after buying an additional 62 shares during the period. Graybill Wealth Management LTD. acquired a new stake in Eaton during the 1st quarter worth approximately $41,000. Finally, Saudi Central Bank acquired a new stake in Eaton during the 1st quarter worth approximately $42,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETN. Morgan Stanley boosted their price target on shares of Eaton from $375.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Daiwa America upgraded shares of Eaton to a "strong-buy" rating in a research report on Thursday, September 11th. Raymond James Financial boosted their price target on shares of Eaton from $380.00 to $415.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Citigroup boosted their price target 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, Wall Street Zen downgraded shares of Eaton from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Eaton currently has a consensus rating of "Moderate Buy" and an average price target of $390.68.

Eaton Stock Performance

NYSE ETN opened at $374.37 on Wednesday. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a market cap of $145.74 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.62 and a beta of 1.16. The company has a fifty day moving average price of $363.42 and a 200-day moving average price of $331.55.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business posted $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. As a group, equities research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Insiders Place Their Bets

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

Eaton 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.

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