Perbak Capital Partners LLP Trims Holdings in Eaton Corporation, PLC $ETN

Key Points

• Perbak Capital Partners LLP reduced its shareholding in Eaton Corporation by 37%, selling 792 shares, which brought their total holdings to 1,347 shares worth approximately $366,000.
• Insider Olivier Leonetti sold 16,018 shares at an average price of $358.39, significantly reducing his ownership by 96.22%.
• Eaton's latest earnings report showed an EPS of $2.95, exceeding estimates, with a revenue of $7.03 billion, reflecting a 10.7% year-over-year increase.

Perbak Capital Partners LLP cut its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 37.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,347 shares of the industrial products company's stock after selling 792 shares during the quarter. Perbak Capital Partners LLP's holdings in Eaton were worth $366,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Eaton by 0.7% during the 1st quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock worth $3,593,000 after buying an additional 96 shares during the last quarter. Brighton Jones LLC raised its position in Eaton by 4.9% during the 1st quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock worth $953,000 after buying an additional 164 shares during the last quarter. Kennebec Savings Bank raised its position in Eaton by 5.4% during the 1st quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock worth $738,000 after buying an additional 139 shares during the last quarter. American National Bank & Trust raised its position in Eaton by 5.4% during the 1st quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after buying an additional 162 shares during the last quarter. Finally, Castle Rock Wealth Management LLC boosted its position in Eaton by 7.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 8,330 shares of the industrial products company's stock worth $2,575,000 after purchasing an additional 543 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction 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. This represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

ETN has been the subject of several analyst reports. Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. Redburn Atlantic initiated coverage on shares of Eaton in a research note on Wednesday, August 20th. They issued a "hold" rating and a $336.00 target price for the company. Morgan Stanley boosted their target price on shares of Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup boosted their target price on shares of Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $379.10.

Eaton Price Performance

Shares of NYSE ETN traded up $0.82 during midday trading on Friday, hitting $349.04. The stock had a trading volume of 2,120,724 shares, compared to its average volume of 1,880,771. The company has a market capitalization of $135.88 billion, a PE ratio of 35.11, a P/E/G ratio of 2.56 and a beta of 1.16. The stock has a 50 day simple moving average of $362.31 and a 200-day simple moving average of $322.18. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 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 earnings results 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 business had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $2.73 earnings per share. 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, sell-side analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

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

Eaton Company 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.