First Long Island Investors LLC Purchases 53,153 Shares of Eaton Corporation, PLC $ETN

Key Points

• First Long Island Investors LLC increased its stake in Eaton Corporation by 5,589.2%, acquiring a total of 54,104 shares valued at approximately $14.7 million.
• During the first quarter, multiple large investors made significant changes to their holdings, with 82.97% of the stock owned by institutional investors and hedge funds.
• Eaton reported earnings of $2.95 per share for the last quarter, exceeding analysts' expectations, with a revenue of $7.03 billion—a year-over-year increase of 10.7%.

First Long Island Investors LLC raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 5,589.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 54,104 shares of the industrial products company's stock after purchasing an additional 53,153 shares during the quarter. First Long Island Investors LLC's holdings in Eaton were worth $14,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETN. IMA Advisory Services Inc. acquired a new stake in Eaton during the 1st quarter valued at approximately $25,000. Capital A Wealth Management LLC bought a new position in shares of Eaton in the 4th quarter worth $26,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the 4th quarter worth $33,000. Finally, Abound Wealth Management lifted its stake in Eaton by 73.8% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Trading Up 2.8%

ETN stock traded up $10.09 during midday trading on Monday, hitting $375.99. The company had a trading volume of 3,030,475 shares, compared to its average volume of 2,943,101. 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 52 week low of $231.85 and a 52 week high of $399.56. The stock's 50 day moving average price is $362.13 and its 200 day moving average price is $324.63. The stock has a market cap of $146.37 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.61 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company posted $2.73 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. As a group, equities research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 currently 41.85%.

Analyst Ratings Changes

Several brokerages have weighed in on ETN. The Goldman Sachs Group raised their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Daiwa America raised Eaton to a "strong-buy" rating in a report on Thursday. Melius Research set a $495.00 price objective on Eaton and gave the stock a "buy" rating in a report on Monday. Raymond James Financial raised their target price on Eaton from $380.00 to $415.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company raised their target price on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $390.68.

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of the company's 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 completion of the transaction, the insider owned 630 shares in the company, valued at $225,785.70. This represents a 96.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

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.