Congress Asset Management Co. Cuts Stake in Eaton Corporation, PLC $ETN

Key Points

• Congress Asset Management Co. reduced its stake in Eaton Corporation by 0.5%, retaining 524,528 shares valued at approximately $187 million, making it their 12th largest holding.
• Analysts have a consensus rating of "Moderate Buy" on Eaton, with a target price averaging $390.68, reflecting strong confidence in the stock's performance.
• Eaton's latest earnings report showed a net margin of 15.11% and revenue growth of 10.7% year-over-year, surpassing analyst expectations.

Congress Asset Management Co. decreased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 0.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 524,528 shares of the industrial products company's stock after selling 2,478 shares during the period. Eaton makes up about 1.3% of Congress Asset Management Co.'s holdings, making the stock its 12th biggest holding. Congress Asset Management Co. owned approximately 0.13% of Eaton worth $187,251,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Commonwealth Financial Services LLC boosted its stake in shares of Eaton by 2.9% in the 1st quarter. Commonwealth Financial Services LLC now owns 1,175 shares of the industrial products company's stock valued at $319,000 after purchasing an additional 33 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Eaton by 3.1% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,091 shares of the industrial products company's stock valued at $297,000 after purchasing an additional 33 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in Eaton by 0.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock valued at $1,378,000 after buying an additional 37 shares during the period. AGH Wealth Advisors LLC boosted its position in Eaton by 2.6% during the 1st quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock valued at $412,000 after buying an additional 38 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in Eaton by 4.2% during the 1st quarter. Revolve Wealth Partners LLC now owns 951 shares of the industrial products company's stock valued at $259,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ETN shares. Sanford C. Bernstein reissued an "outperform" rating and set a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Citigroup increased their price target on shares of Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Daiwa Capital Markets started coverage on shares of Eaton in a research report on Thursday, September 11th. They set an "outperform" rating and a $390.00 price target for the company. KeyCorp increased their price target on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley upped their price objective on shares of Eaton from $375.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $390.68.

Eaton Stock Down 1.9%

Shares of Eaton stock opened at $365.17 on Friday. 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 has a 50-day moving average of $363.79 and a 200 day moving average of $329.57. The firm has a market cap of $142.16 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 2.66 and a beta of 1.16. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly 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. The company had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. Eaton's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $2.73 EPS. 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, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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

Insider Activity

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 value of $5,740,691.02. Following the completion of the transaction, the insider directly owned 630 shares in the company, valued at $225,785.70. This trade represents a 96.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently 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.

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