Cresset Asset Management LLC Has $7.19 Million Stake in Eaton Corporation, PLC $ETN

Key Points

• Cresset Asset Management LLC purchased an additional 1,068 shares of Eaton Corporation, increasing its total holdings by 4.2% to 26,440 shares, valued at approximately $7.19 million.
• Eaton recently announced a quarterly dividend of $1.04 per share, resulting in an annualized dividend of $4.16 and a yield of 1.2%.
• The company's earnings per share for the last quarter were $2.95, surpassing analysts' estimates and marking a 10.7% increase in revenue compared to the previous year.

Cresset Asset Management LLC increased its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,440 shares of the industrial products company's stock after purchasing an additional 1,068 shares during the period. Cresset Asset Management LLC's holdings in Eaton were worth $7,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Family Office LLC raised its holdings in Eaton by 7.9% during the first quarter. Boston Family Office LLC now owns 41,601 shares of the industrial products company's stock worth $11,308,000 after purchasing an additional 3,032 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in Eaton by 39.0% during the first quarter. Tocqueville Asset Management L.P. now owns 8,413 shares of the industrial products company's stock worth $2,287,000 after purchasing an additional 2,359 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Eaton by 9.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 3,518 shares of the industrial products company's stock worth $957,000 after purchasing an additional 290 shares in the last quarter. Thompson Davis & CO. Inc. raised its holdings in Eaton by 42.1% during the first quarter. Thompson Davis & CO. Inc. now owns 1,350 shares of the industrial products company's stock worth $367,000 after purchasing an additional 400 shares in the last quarter. Finally, Oak Grove Capital LLC bought a new stake in Eaton during the first quarter worth approximately $544,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent analyst reports. KeyCorp boosted their target price on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Citigroup lifted their price objective on shares of Eaton from $420.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wells Fargo & Company boosted their price target on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Wall Street Zen cut shares of Eaton from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Royal Bank Of Canada boosted their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average price target of $379.10.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction 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 completion of the sale, the insider directly owned 630 shares in the company, valued at approximately $225,785.70. This represents a 96.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Up 0.6%

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

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. The firm had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. Eaton's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company 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. Equities research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently disclosed 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 is currently 41.85%.

About Eaton

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.