Eaton Corporation, PLC $ETN Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Eaton Corporation by 2,414.8%, owning approximately 430,061 shares valued at $116.9 million as of their latest SEC filing.
• Eaton reported $2.95 EPS for the most recent quarter, exceeding analysts' expectations, with revenue reaching $7.03 billion, a year-over-year increase of 10.7%.
• JPMorgan Chase & Co. and other analysts have elevated their target price for Eaton shares, with an average target price now at $379.10, indicating a widespread positive outlook from market analysts.

OMERS ADMINISTRATION Corp boosted its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 2,414.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 430,061 shares of the industrial products company's stock after buying an additional 412,960 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.11% of Eaton worth $116,903,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the fourth quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in Eaton in the 1st quarter valued at approximately $25,000. Vermillion Wealth Management Inc. acquired a new position in Eaton during the 4th quarter worth approximately $33,000. Creative Financial Designs Inc. ADV grew its holdings 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 worth $27,000 after acquiring an additional 51 shares during the period. Finally, Abound Wealth Management raised its position in Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $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.

Insider Activity

In other news, insider Olivier Leonetti sold 16,018 shares of Eaton stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of the sale, the insider owned 630 shares of the company's stock, valued at $225,785.70. The trade was a 96.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on ETN shares. JPMorgan Chase & Co. boosted their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 target price on shares of Eaton in a research report on Monday, July 14th. Royal Bank Of Canada lifted their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Barclays upped their price target on Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Rothschild & Co Redburn initiated coverage on Eaton in a report on Wednesday, August 20th. They set a "neutral" rating and a $336.00 price objective for the company. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $379.10.

Eaton Stock Down 0.1%

ETN opened at $351.61 on Thursday. The firm has a market cap of $136.88 billion, a P/E ratio of 35.37, a PEG ratio of 2.59 and a beta of 1.18. The business's fifty day simple moving average is $361.31 and its 200 day simple moving average is $320.44. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week 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 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. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $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. As a group, equities research analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

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