Eaton Corporation, PLC $ETN Stake Lifted by Jacobi Capital Management LLC

Key Points

• Jacobi Capital Management LLC increased its stake in Eaton Corporation by 16.0% in the first quarter, bringing its total holdings to 7,633 shares valued at approximately $2.08 million.
• A significant number of institutional investors have also boosted their stakes in Eaton, with GAMMA Investing LLC growing its position by a remarkable 27,281.9%.
• Eaton recently announced its quarterly dividend of $1.04 per share, reflecting a 1.2% yield and a payout ratio of 41.85%.

Jacobi Capital Management LLC increased its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 16.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,633 shares of the industrial products company's stock after buying an additional 1,050 shares during the quarter. Jacobi Capital Management LLC's holdings in Eaton were worth $2,075,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ETN. Nuveen LLC bought a new position in Eaton during the 1st quarter worth $1,472,231,000. GAMMA Investing LLC grew its stake in shares of Eaton by 27,281.9% in the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Eaton by 85.4% in the first quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company's stock worth $986,966,000 after purchasing an additional 1,672,175 shares in the last quarter. Fayez Sarofim & Co grew its stake in shares of Eaton by 606.3% in the first quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company's stock worth $282,262,000 after purchasing an additional 880,656 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Eaton by 15.8% in the first quarter. Invesco Ltd. now owns 3,913,209 shares of the industrial products company's stock worth $1,063,727,000 after purchasing an additional 533,774 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction 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 sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Eaton Trading Down 0.5%

Shares of ETN stock opened at $360.51 on Friday. The stock has a 50-day simple moving average of $362.04 and a 200 day simple moving average of $323.66. Eaton Corporation, PLC has a fifty-two week low of $231.85 and a fifty-two week high of $399.56. The stock has a market capitalization of $140.35 billion, a P/E ratio of 36.27, a P/E/G ratio of 2.59 and a beta of 1.16. 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 announced 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 during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter last year, the business posted $2.73 earnings per share. The company's quarterly 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. On average, sell-side 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 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. This represents a $4.16 annualized dividend 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%.

Analyst Ratings Changes

Several research firms have recently issued reports on ETN. Rothschild & Co Redburn began coverage on Eaton in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $336.00 price target for the company. Morgan Stanley raised their price objective 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. Rothschild Redb upgraded shares of Eaton to a "hold" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Daiwa Capital Markets assumed coverage on shares of Eaton in a research note on Thursday. They set an "outperform" rating and a $390.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Eaton has an average rating of "Moderate Buy" and an average target price of $379.59.

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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