Woodline Partners LP Buys 129,559 Shares of Eaton Corporation, PLC $ETN

Key Points

• Woodline Partners LP significantly increased its position in Eaton Corporation by 822.9%, acquiring 145,303 shares valued at approximately $39.5 million as of its latest SEC filing.
• Analyst firms have raised their target prices for Eaton, with KeyCorp setting it at $410, while the consensus target price is currently $379.10 with a "Moderate Buy" rating.
• Eaton recently declared a quarterly dividend of $1.04 per share, reflecting a 1.2% dividend yield and a payout ratio of 41.85%.

Woodline Partners LP boosted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 822.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,303 shares of the industrial products company's stock after buying an additional 129,559 shares during the period. Woodline Partners LP's holdings in Eaton were worth $39,498,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Commonwealth Financial Services LLC grew its stake in Eaton by 2.9% during the first quarter. Commonwealth Financial Services LLC now owns 1,175 shares of the industrial products company's stock worth $319,000 after buying an additional 33 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in Eaton by 3.1% during the first quarter. E Fund Management Co. Ltd. now owns 1,091 shares of the industrial products company's stock worth $297,000 after buying an additional 33 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Eaton by 0.7% in the first quarter. Checchi Capital Advisers LLC now owns 5,071 shares of the industrial products company's stock worth $1,378,000 after acquiring an additional 37 shares during the last quarter. Lantern Wealth Advisors LLC lifted its holdings in shares of Eaton by 1.0% in the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares during the last quarter. Finally, AGH Wealth Advisors LLC lifted its holdings in shares of Eaton by 2.6% in the first quarter. AGH Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $412,000 after acquiring an additional 38 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the transaction, the insider directly owned 630 shares in the company, valued at approximately $225,785.70. This represents a 96.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company's stock.

Eaton Trading Up 1.7%

NYSE:ETN traded up $6.23 on Friday, reaching $366.31. 3,108,319 shares of the stock traded hands, compared to its average volume of 1,837,146. The firm has a market capitalization of $142.60 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16. The company's 50 day moving average is $362.13 and its 200-day moving average is $324.20. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. 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 released its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

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

Analyst Ratings Changes

ETN has been the subject of a number of research reports. Rothschild Redb raised shares of Eaton to a "hold" rating in a report on Wednesday, August 20th. Barclays increased their target price on shares of Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Daiwa Capital Markets initiated coverage on shares of Eaton in a report on Thursday. They issued an "outperform" rating and a $390.00 target price for the company. BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Finally, Redburn Atlantic initiated coverage on shares of Eaton in a report on Wednesday, August 20th. They issued a "hold" rating and a $336.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.59.

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.