Maverick Capital Ltd. Acquires 1,876 Shares of Eaton Corporation, PLC $ETN

Key Points

• Maverick Capital Ltd. increased its holdings in Eaton Corporation by 49.8% in the 1st quarter, now owning 5,646 shares worth approximately $1.54 million.
• Eaton reported better-than-expected earnings of $2.95 per share for the latest quarter, surpassing estimates and showing a 10.7% year-over-year revenue growth, totaling $7.03 billion.
• The company announced a quarterly dividend of $1.04 per share, which translates to an annualized dividend of $4.16 with a yield of 1.2%.

Maverick Capital Ltd. increased its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 49.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,646 shares of the industrial products company's stock after acquiring an additional 1,876 shares during the quarter. Maverick Capital Ltd.'s holdings in Eaton were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in Eaton during the fourth quarter valued at $26,000. IMA Advisory Services Inc. purchased a new position in Eaton during the first quarter valued at $25,000. Vermillion Wealth Management Inc. purchased a new position in Eaton during the fourth quarter valued at $33,000. Creative Financial Designs Inc. ADV lifted its position in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after buying an additional 51 shares during the period. Finally, Abound Wealth Management lifted its position in Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETN. BNP Paribas Exane began coverage on Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. Citigroup raised their price target on Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Evercore ISI raised their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. KeyCorp raised their price target on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their price target on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Fourteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $379.10.

Eaton Stock Performance

Shares of Eaton stock traded up $0.82 during trading hours on Friday, reaching $349.04. 2,120,724 shares of the stock traded hands, compared to its average volume of 1,880,771. The company has a 50 day moving average price of $362.31 and a 200 day moving average price of $322.18. The firm has a market capitalization of $135.88 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.56 and a beta of 1.16. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $399.56. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the company posted $2.73 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, equities research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. Eaton's payout ratio is 41.85%.

Insider Activity

In related news, insider Olivier Leonetti sold 16,018 shares of the business'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 directly owned 630 shares in the company, valued at approximately $225,785.70. The trade was a 96.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company's stock.

Eaton Profile

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.