Eaton Corporation, PLC $ETN Shares Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC increased its holdings in Eaton Corporation by 4.3% during Q2, now owning 30,059 shares valued at approximately $10.73 million.
• Several analysts have upgraded their ratings for Eaton, with Melius Research setting a new price target of $495.00, while the consensus rating is a "Moderate Buy" with an average target of $393.05.
• Eaton has announced a quarterly dividend of $1.04 per share, which resulted in an annualized yield of 1.1% and a payout ratio of 41.85%.

Fifth Third Wealth Advisors LLC lifted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,059 shares of the industrial products company's stock after acquiring an additional 1,236 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Eaton were worth $10,731,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Eaton by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock valued at $10,195,725,000 after purchasing an additional 289,819 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Eaton in the first quarter valued at about $1,472,231,000. Goldman Sachs Group Inc. raised its holdings in shares of Eaton by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock valued at $1,083,442,000 after buying an additional 427,509 shares during the last quarter. Invesco Ltd. increased its position in Eaton by 15.8% in the 1st quarter. Invesco Ltd. now owns 3,913,209 shares of the industrial products company's stock valued at $1,063,727,000 after acquiring an additional 533,774 shares during the period. Finally, Alliancebernstein L.P. increased its position in Eaton by 12.2% in the 1st quarter. Alliancebernstein L.P. now owns 3,659,851 shares of the industrial products company's stock valued at $994,857,000 after acquiring an additional 397,114 shares during the period. Institutional investors and hedge funds own 82.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Melius Research upgraded Eaton from a "hold" rating to a "buy" rating and boosted their price target for the company from $412.00 to $495.00 in a research report on Monday, September 15th. Raymond James Financial boosted their target price on Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Melius raised shares of Eaton from a "hold" rating to a "buy" rating and set a $495.00 price objective on the stock in a research note on Monday, September 15th. Citigroup boosted their price objective on shares of Eaton from $438.00 to $442.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Eaton in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $393.05.

Insider Buying and Selling

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 sale, the insider directly owned 630 shares of the company's stock, valued at approximately $225,785.70. This represents a 96.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company's stock.

Eaton Trading Down 2.0%

Shares of ETN opened at $369.57 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average is $361.48 and its two-hundred day moving average is $335.62. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The firm has a market capitalization of $143.87 billion, a P/E ratio of 37.18, a PEG ratio of 2.69 and a beta of 1.18.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. The business had revenue of $7.03 billion for the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The company's revenue 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. On average, research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.1%. Eaton's dividend payout ratio is 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.

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