Concentric Capital Strategies LP Acquires New Position in Eaton Corporation, PLC $ETN

Key Points

• Concentric Capital Strategies LP invested $2.45 million in Eaton Corporation, acquiring 9,014 shares during the first quarter.
• Analysts have increased their target prices for Eaton, with JPMorgan Chase raising it to $360 and KeyCorp to $410, reflecting a positive outlook.
• Eaton recently declared a quarterly dividend of $1.04 per share, with a current dividend yield of 1.2% and a payout ratio of 41.85%.

Concentric Capital Strategies LP purchased a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,014 shares of the industrial products company's stock, valued at approximately $2,450,000.

A number of other large investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Eaton during the 1st quarter valued at $1,472,231,000. GAMMA Investing LLC boosted its stake in Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after acquiring an additional 3,580,198 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Eaton by 85.4% during the 1st quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company's stock valued at $986,966,000 after acquiring an additional 1,672,175 shares during the last quarter. Fayez Sarofim & Co boosted its stake in Eaton by 606.3% during the 1st quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company's stock valued at $282,262,000 after acquiring an additional 880,656 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new position in Eaton during the 4th quarter valued at $231,552,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. KeyCorp increased their price objective on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Raymond James Financial increased their price objective on shares of Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Wells Fargo & Company raised their price target on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Evercore ISI lifted their price objective on shares of 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 eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $379.10.

Eaton Price Performance

Shares of NYSE ETN traded down $4.20 during mid-day trading on Tuesday, reaching $345.29. 741,565 shares of the company traded hands, compared to its average volume of 2,936,238. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week 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 $134.42 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 2.57 and a beta of 1.17. The stock has a fifty day simple moving average of $362.14 and a 200-day simple moving average of $322.72.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The business had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business earned $2.73 earnings per share. The business's revenue for the quarter 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. Equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were issued a $1.04 dividend. 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 presently 41.85%.

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total value of $5,740,691.02. Following the sale, the insider directly owned 630 shares in the company, valued at $225,785.70. The trade was a 96.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by insiders.

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.