Cary Street Partners Financial LLC Increases Position in Eaton Corporation, PLC $ETN

Key Points

• Cary Street Partners Financial increased its Eaton stake by 199% in the fourth quarter, ending with 29,797 shares worth about $9.49 million.
• Eaton reported solid quarterly results, with EPS of $2.81 and revenue of $7.45 billion, both ahead of analyst expectations; it also raised full-year guidance.
• The company declared a quarterly dividend of $1.10 per share, while Wall Street remains broadly positive with a consensus Moderate Buy rating and a target price of $420.95.

Cary Street Partners Financial LLC lifted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 199.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,797 shares of the industrial products company's stock after buying an additional 19,832 shares during the period. Cary Street Partners Financial LLC's holdings in Eaton were worth $9,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wellington Shields & Co. LLC lifted its stake in shares of Eaton by 7.1% during the fourth quarter. Wellington Shields & Co. LLC now owns 4,257 shares of the industrial products company's stock valued at $1,356,000 after buying an additional 281 shares during the period. Pioneer Trust Bank N A OR lifted its stake in shares of Eaton by 669.1% during the fourth quarter. Pioneer Trust Bank N A OR now owns 6,230 shares of the industrial products company's stock valued at $1,984,000 after buying an additional 5,420 shares during the period. Allstate Corp lifted its stake in shares of Eaton by 105.4% during the fourth quarter. Allstate Corp now owns 29,037 shares of the industrial products company's stock valued at $9,249,000 after buying an additional 14,900 shares during the period. RHL Group LLC acquired a new position in Eaton during the fourth quarter worth approximately $86,000. Finally, Hartline Investment Corp increased its position in Eaton by 2.6% during the fourth quarter. Hartline Investment Corp now owns 16,441 shares of the industrial products company's stock worth $5,237,000 after purchasing an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In other Eaton news, insider Antonio Galvao sold 494 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $405.86, for a total transaction of $200,494.84. Following the transaction, the insider directly owned 9,175 shares in the company, valued at $3,723,765.50. This represents a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heath B. Monesmith sold 18,367 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $409.11, for a total transaction of $7,514,123.37. Following the transaction, the insider owned 49,822 shares in the company, valued at $20,382,678.42. This trade represents a 26.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,028 shares of company stock worth $8,614,793 over the last ninety days. Insiders own 0.10% of the company's stock.

Eaton Price Performance

ETN opened at $391.73 on Tuesday. The company has a fifty day simple moving average of $388.28 and a 200 day simple moving average of $362.17. The firm has a market cap of $152.11 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 2.51 and a beta of 1.24. Eaton Corporation, PLC has a twelve month low of $311.90 and a twelve month high of $435.43. The company has a current ratio of 1.19, a quick ratio of 0.75 and a debt-to-equity ratio of 0.94.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.08. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.14 billion. Eaton had a net margin of 13.99% and a return on equity of 24.72%. The business's revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned $2.72 EPS. Eaton has set its Q2 2026 guidance at 3.000-3.100 EPS and its FY 2026 guidance at 13.050-13.500 EPS. Equities research analysts expect that Eaton Corporation, PLC will post 13.33 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 8th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th. Eaton's dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ETN shares. Evercore set a $453.00 price target on shares of Eaton in a research report on Monday, May 11th. Erste Group Bank started coverage on shares of Eaton in a research report on Tuesday, May 5th. They set a "buy" rating for the company. BMO Capital Markets began coverage on shares of Eaton in a research report on Friday, March 27th. They set an "outperform" rating and a $428.00 price target for the company. Citigroup increased their price objective on shares of Eaton from $464.00 to $471.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, KeyCorp increased their price objective on shares of Eaton from $420.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $420.95.

About Eaton

Eaton NYSE: ETN is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company's offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.

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