Bowen Hanes & Co. Inc. Buys 20,365 Shares of Eaton Corporation, PLC $ETN

Key Points

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Bowen Hanes & Co. Inc. grew its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,480 shares of the industrial products company's stock after purchasing an additional 20,365 shares during the period. Bowen Hanes & Co. Inc.'s holdings in Eaton were worth $52,865,000 at the end of the most recent quarter.

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

Eaton Stock Performance

Shares of ETN stock traded up $1.9770 during mid-day trading on Friday, reaching $347.3570. The stock had a trading volume of 1,964,878 shares, compared to its average volume of 2,630,220. The firm's 50 day simple moving average is $360.36 and its 200 day simple moving average is $319.71. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $399.56. The firm has a market cap of $135.23 billion, a PE ratio of 34.95, a P/E/G ratio of 2.55 and a beta of 1.18.

Eaton (NYSE:ETN - Get Free Report) last announced 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. 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 the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $2.73 EPS. The company's quarterly 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, analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on ETN shares. BNP Paribas Exane started coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. Raymond James Financial increased their price objective on Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. Wells Fargo & Company increased their target price on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Finally, BNP Paribas started coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Eaton presently has an average rating of "Moderate Buy" and an average target price of $379.10.

Insider Activity at Eaton

In related 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 transaction of $5,740,691.02. Following the completion of the transaction, the insider owned 630 shares in the company, 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 the SEC website. 0.30% of the stock is owned by company insiders.

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.