Corebridge Financial Inc. Decreases Holdings in Eaton Corporation, PLC $ETN

Key Points

• Corebridge Financial Inc. has reduced its stake in Eaton Corporation by 4.2%, now holding 106,011 shares valued at approximately $28.8 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs Group, have increased their positions in Eaton, contributing to hedge funds owning 82.97% of the stock.
• Eaton's recent quarterly earnings report showed an EPS of $2.95, surpassing analysts' expectations while also announcing a quarterly dividend of $1.04 per share.

Corebridge Financial Inc. decreased its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,011 shares of the industrial products company's stock after selling 4,651 shares during the quarter. Corebridge Financial Inc.'s holdings in Eaton were worth $28,817,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ETN. IMA Advisory Services Inc. purchased a new position in Eaton during the first quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the fourth quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in shares of Eaton during the fourth quarter valued at approximately $33,000. Finally, Abound Wealth Management raised its holdings in shares of Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETN. Rothschild Redb upgraded shares of Eaton to a "hold" rating in a research report on Wednesday, August 20th. Citigroup increased their price target on Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Rothschild & Co Redburn began coverage on Eaton in a report on Wednesday, August 20th. They issued a "neutral" rating and a $336.00 price target for the company. Morgan Stanley increased their price target on Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, KeyCorp increased their price target on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $379.10.

Eaton Trading Up 1.2%

Shares of NYSE ETN traded up $4.13 during trading on Thursday, reaching $355.53. The stock had a trading volume of 1,772,223 shares, compared to its average volume of 2,515,210. 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 quick ratio of 0.76 and a current ratio of 1.24. The business's 50-day moving average price is $361.31 and its 200-day moving average price is $320.44. The company has a market cap of $138.41 billion, a P/E ratio of 35.77, a PEG ratio of 2.59 and a beta of 1.18.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.Eaton's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $2.73 earnings per share. 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 research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal 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 issued a $1.04 dividend. The ex-dividend date was Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a yield of 1.2%. Eaton's dividend payout ratio (DPR) is 41.85%.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of Eaton 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company's stock.

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.