Eaton Corporation, PLC $ETN Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its Eaton stake by 4.6% in the third quarter, selling 19,091 shares and retaining 393,986 shares worth approximately $169.3 million. Institutional investors collectively own 82.97% of Eaton.
• Analysts remain broadly bullish: Eaton has a consensus “Buy” rating, with 17 analysts rating it Buy or Strong Buy and a consensus price target of $456.50. Several firms recently raised their targets, including Morgan Stanley to $520.
• Eaton reported quarterly adjusted earnings of $3.15 per share on $8.53 billion in revenue, beating estimates, while revenue rose 21.4% year over year. The company also declared a quarterly dividend of $1.10, equivalent to a 1.0% annualized yield.

Congress Asset Management Co. decreased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 393,986 shares of the industrial products company's stock after selling 19,091 shares during the quarter. Eaton comprises about 1.1% of Congress Asset Management Co.'s portfolio, making the stock its 17th biggest holding. Congress Asset Management Co. owned approximately 0.10% of Eaton worth $169,300,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Security National Bank of SO Dak acquired a new stake in shares of Eaton in the second quarter valued at approximately $26,000. Manning & Napier Advisors LLC purchased a new position in shares of Eaton during the 2nd quarter worth $27,000. Hilton Head Capital Partners LLC acquired a new position in shares of Eaton during the 4th quarter valued at about $26,000. Archer Investment Corp purchased a new stake in shares of Eaton in the second quarter valued at about $35,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Eaton during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Activity

In other Eaton news, insider Adam Wadecki sold 525 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $440.54, for a total transaction of $231,283.50. Following the transaction, the insider directly owned 1,054 shares in the company, valued at $464,329.16. This represents a 33.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald Johnson acquired 130 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $455.90 per share, with a total value of $59,267.00. Following the acquisition, the director owned 1,829 shares of the company's stock, valued at $833,841.10. This trade represents a 7.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Eaton from $477.00 to $487.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Morgan Stanley raised their target price on Eaton from $500.00 to $520.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Citigroup boosted their price target on shares of Eaton from $471.00 to $485.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Evercore upgraded shares of Eaton from an "in-line" rating to an "outperform" rating and set a $502.00 target price on the stock in a research note on Monday, August 3rd. Finally, Wells Fargo & Company initiated coverage on Eaton in a research note on Thursday, September 24th. They issued an "overweight" rating and a $503.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Eaton currently has a consensus rating of "Buy" and a consensus price target of $456.50.

Eaton Price Performance

Shares of NYSE:ETN traded up $12.43 on Tuesday, hitting $445.03. The company had a trading volume of 1,592,873 shares, compared to its average volume of 2,522,806. Eaton Corporation, PLC has a 52-week low of $311.92 and a 52-week high of $478.00. The company has a market cap of $172.85 billion, a PE ratio of 45.27, a PEG ratio of 2.65 and a beta of 1.13. The business has a 50 day moving average of $422.90 and a 200 day moving average of $406.89. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91.

Eaton (NYSE:ETN - Get Free Report) last released its earnings results on Friday, July 31st. The industrial products company reported $3.15 EPS for the quarter, beating the consensus estimate of $3.08 by $0.07. The firm had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.16 billion. Eaton had a return on equity of 24.58% and a net margin of 12.75%.The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 earnings per share. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. As a group, equities analysts anticipate that Eaton Corporation, PLC will post 13.57 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 7th were paid a $1.10 dividend. The ex-dividend date was Friday, August 7th. This represents a $4.40 annualized dividend and a dividend yield of 1.0%. Eaton's payout ratio is 44.76%.

Eaton Profile

Eaton Corporation plc NYSE: ETN is a global power management company that helps customers manage electrical, hydraulic and mechanical power more safely, efficiently and reliably. Its products and systems serve commercial, industrial, utility, data center, residential, aerospace, vehicle and mobility applications.

The company's electrical businesses provide circuit protection and control equipment, power distribution systems, connectivity solutions, backup power and other technologies used to support critical infrastructure and improve energy efficiency.

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