Adage Capital Partners GP L.L.C. Has $84.95 Million Holdings in Eaton Corporation, PLC $ETN

Key Points

• Adage Capital Partners GP L.L.C. has decreased its holdings in Eaton Corporation, PLC by 31.2%, owning 312,528 shares as of its latest SEC filing.
• Wall Street analysts have upgraded Eaton's stock, with 14 analysts rating it as a Buy and an average target price of $379.10.
• In the latest earnings report, Eaton reported $2.95 EPS, exceeding estimates, with quarterly revenue of $7.03 billion, marking a 10.7% increase year-over-year.

Adage Capital Partners GP L.L.C. reduced its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 31.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,528 shares of the industrial products company's stock after selling 141,970 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Eaton worth $84,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Vanguard Group Inc. increased its position in shares of Eaton by 0.8% in the first quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock worth $10,195,725,000 after acquiring an additional 289,819 shares in the last quarter. Nuveen LLC purchased a new position in shares of Eaton in the first quarter worth approximately $1,472,231,000. Nuveen Asset Management LLC increased its position in shares of Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Eaton by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock worth $1,083,442,000 after acquiring an additional 427,509 shares in the last quarter. Finally, Invesco Ltd. increased its position 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 acquiring an additional 533,774 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ETN shares. Barclays lifted their target price on shares of Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Rothschild & Co Redburn started coverage on shares of Eaton in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $336.00 target price on the stock. Redburn Atlantic initiated coverage on shares of Eaton in a research report on Wednesday, August 20th. They issued a "hold" rating and a $336.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $379.10.

Insider Buying and Selling at Eaton

In other news, insider Olivier Leonetti sold 16,018 shares of the business's stock in a transaction on Thursday, August 7th. The shares were 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 directly owned 630 shares in the company, valued at approximately $225,785.70. The trade was a 96.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

Eaton Stock Up 0.2%

ETN stock traded up $0.82 during trading hours on Friday, hitting $349.04. The company's stock had a trading volume of 2,120,724 shares, compared to its average volume of 1,880,771. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $135.88 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56. The stock has a 50 day moving average price of $362.31 and a two-hundred day moving average price of $322.26.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.92 by $0.03. The company had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.73 earnings per share. 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 year.

Eaton Announces Dividend

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