Belmont Capital LLC Invests $683,000 in Eaton Corporation, PLC $ETN

Key Points

• Belmont Capital LLC acquired a new stake in Eaton Corporation, purchasing 2,514 shares valued at approximately $683,000 during the first quarter.
• Analysts have assigned Eaton a consensus rating of "Moderate Buy" with an average target price of $379.10, reflecting positive outlooks from several investment firms.
• Eaton recently reported better-than-expected earnings, posting $2.95 EPS for the quarter, exceeding analysts' estimates of $2.92 and showing a 10.7% year-over-year revenue increase.

Belmont Capital LLC acquired a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,514 shares of the industrial products company's stock, valued at approximately $683,000.

A number of other institutional investors have also made changes to their positions in ETN. GAMMA Investing LLC boosted its position in Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock worth $3,593,000 after acquiring an additional 96 shares during the period. Brighton Jones LLC lifted its holdings in shares of Eaton by 4.9% during the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after purchasing an additional 164 shares during the last quarter. Kennebec Savings Bank raised its position in Eaton by 5.4% during the first 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 during the period. American National Bank & Trust raised its position in Eaton by 5.4% during the first 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 during the period. Finally, Castle Rock Wealth Management LLC raised its position in Eaton by 7.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock valued at $2,575,000 after buying an additional 543 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley upped their price target on Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company upped their target price on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. BNP Paribas Exane started coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Sanford C. Bernstein reiterated an "outperform" rating and set a $396.00 price target on shares of Eaton in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $379.10.

Eaton Price Performance

Shares of ETN traded up $0.82 during mid-day trading on Friday, reaching $349.04. The company had a trading volume of 2,120,724 shares, compared to its average volume of 1,880,771. 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 current ratio of 1.24 and a quick ratio of 0.76. The company's 50-day moving average is $362.31 and its 200-day moving average is $322.26. The company has a market capitalization of $135.88 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating 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 firm 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 posted $2.73 EPS. The business's revenue 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. On average, equities analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

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

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the stock in a transaction 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 transaction, the insider directly owned 630 shares in the company, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company's stock.

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.