Eaton Corporation, PLC $ETN Holdings Boosted by Wellington Management Group LLP

Key Points

• Wellington Management increased its Eaton stake by 19.6% in the second quarter, adding 1.12 million shares to own 6.83 million shares valued at approximately $2.91 billion. Institutional investors collectively own 82.97% of Eaton.
• Eaton reported quarterly EPS of $3.15, beating estimates of $3.08, while revenue rose 21.4% year over year to $8.53 billion. The company issued third-quarter EPS guidance of $3.46–$3.56 and full-year guidance of $13.40–$13.60.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $442. Eaton also pays a quarterly dividend of $1.10, equivalent to an annualized yield of about 1.1%.

Wellington Management Group LLP raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 19.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,827,266 shares of the industrial products company's stock after purchasing an additional 1,120,567 shares during the quarter. Wellington Management Group LLP owned 1.76% of Eaton worth $2,909,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new position in Eaton during the 4th quarter valued at about $26,000. Sfam LLC purchased a new stake in shares of Eaton in the fourth quarter worth approximately $27,000. Manning & Napier Advisors LLC purchased a new stake in shares of Eaton in the second quarter worth approximately $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Eaton during the fourth quarter worth approximately $28,000. Finally, Boreal Capital Management LLC purchased a new position in Eaton during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on ETN shares. KeyCorp upped their price objective on shares of Eaton from $420.00 to $480.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Sanford C. Bernstein reissued an "outperform" rating on shares of Eaton in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their price target on shares of Eaton from $484.00 to $512.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Morgan Stanley upped their price target on shares of Eaton from $500.00 to $520.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Citigroup increased their price objective on Eaton from $471.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $442.00.

Eaton Trading Down 3.2%

NYSE:ETN opened at $402.56 on Friday. The company has a market capitalization of $156.35 billion, a P/E ratio of 40.95, a P/E/G ratio of 2.63 and a beta of 1.18. The stock's 50 day moving average price is $417.02 and its 200 day moving average price is $397.78. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.79 and a current ratio of 1.24. Eaton Corporation, PLC has a 52 week low of $311.92 and a 52 week high of $478.00.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, July 31st. The industrial products company reported $3.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.08 by $0.07. The firm had revenue of $8.53 billion during the quarter, compared to analysts' expectations of $8.16 billion. Eaton had a net margin of 12.75% and a return on equity of 24.58%. The company's revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 earnings per share. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. On average, research analysts forecast that Eaton Corporation, PLC will post 13.55 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were issued a $1.10 dividend. The ex-dividend date was Friday, August 7th. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. Eaton's dividend payout ratio is currently 44.76%.

Insider Buying and Selling

In other Eaton news, insider Adam A. Wadecki sold 525 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $440.54, for a total value of $231,283.50. Following the completion of the sale, the insider owned 1,054 shares of the company's stock, valued at $464,329.16. The trade was a 33.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald Johnson purchased 130 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were bought at an average price of $455.90 per share, with a total value of $59,267.00. Following the purchase, the director owned 1,829 shares in the company, valued at $833,841.10. This represents a 7.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.10% of the stock is currently owned by corporate insiders.

Eaton Company Profile

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.

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Corporation, PLC (NYSE:ETN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source