Eaton Corporation, PLC $ETN Stock Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Eaton stake by 2.7% in the third quarter, selling 28,174 shares; it still held 997,666 shares worth about $428.7 million. Institutional investors own approximately 83% of Eaton.
• Eaton reported quarterly EPS of $3.68 and revenue of $8.95 billion, topping analyst estimates of $3.54 and $8.53 billion, respectively. Revenue rose 28% year over year, and recent company news cited a record electrical backlog and stronger outlook.
• Analyst sentiment remains broadly positive: 21 analysts rated Eaton Buy or Strong Buy, compared with two Holds, and the average price target was $483.91.

Pictet Asset Management Holding SA lowered its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 997,666 shares of the industrial products company's stock after selling 28,174 shares during the period. Pictet Asset Management Holding SA owned approximately 0.26% of Eaton worth $428,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Eaton by 19.6% during the 2nd quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company's stock worth $2,909,235,000 after buying an additional 1,120,567 shares during the period. Sustainable Growth Advisers LP bought a new stake in shares of Eaton in the 3rd quarter worth $85,752,000. Clal Insurance Enterprises Holdings Ltd increased its stake in Eaton by 112.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 336,060 shares of the industrial products company's stock valued at $120,199,000 after buying an additional 178,000 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Eaton during the second quarter valued at approximately $64,858,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Eaton by 87.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 282,750 shares of the industrial products company's stock valued at $121,501,000 after purchasing an additional 131,624 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Raymond James Financial lifted their price target on shares of Eaton from $465.00 to $525.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $534.00 target price (up from $509.00) on shares of Eaton in a research report on Monday, August 3rd. Wells Fargo & Company cut their price target on shares of Eaton from $503.00 to $485.00 and set an "overweight" rating for the company in a research report on Wednesday. Argus upped their price target on shares of Eaton from $475.00 to $528.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Finally, Citigroup increased their price objective on Eaton from $485.00 to $498.00 and gave the stock a "buy" rating in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $483.91.

Insiders Place Their Bets

In other news, insider Heath B. Monesmith sold 18,036 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $458.04, for a total value of $8,261,209.44. Following the transaction, the insider directly owned 50,368 shares in the company, valued at $23,070,558.72. This trade represents a 26.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerald Johnson bought 130 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $455.90 per share, with a total value of $59,267.00. Following the completion of the transaction, the director directly owned 1,829 shares of the company's stock, valued at $833,841.10. This trade represents a 7.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.10% of the company's stock.

Eaton News Summary

Here are the key news stories impacting Eaton this week:

• Positive Sentiment: Eaton reported record third-quarter results and raised its 2026 outlook again. It beat the supplied consensus estimates, earning $3.68 per share versus $3.54 expected and generating $8.95 billion in revenue versus $8.53 billion expected. Eaton stock lifts 2026 outlook after record third-quarter results
• Positive Sentiment: A record electrical backlog and strong demand from data centers, grid modernization and broader infrastructure investment provide revenue visibility and potential for future growth. Can Eaton Convert Its Record Backlog Into Stronger Earnings?
• Positive Sentiment: Analyst support, including Bernstein maintaining a Buy rating and KeyBanc issuing a Buy, may help underpin investor confidence. Bernstein Sticks to Their Buy Rating for Eaton
• Neutral Sentiment: The stock’s rebound may also reflect a technical bounce after recent selling; one report described industrial shares including Eaton as deeply oversold. Top 3 Industrials Stocks That May Rocket Higher in November
• Negative Sentiment: Investors remain focused on whether Eaton can convert its large backlog into sustained sales and earnings growth. The shares sold off after the results despite the raised outlook, reflecting execution concerns and valuation sensitivity. Eaton Stock Sinks as Q3 Results Fail to Calm Execution Fears
• Negative Sentiment: Eaton sees potential in data-center power systems shifting from AC to DC, but its CEO said the timing of that transition is outside the company’s control. Eaton CEO: AC to DC migration for data centers is real

Eaton Price Performance

Shares of ETN opened at $341.80 on Friday. Eaton Corporation, PLC has a fifty-two week low of $311.92 and a fifty-two week high of $478.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.79 and a current ratio of 1.23. The stock has a market cap of $132.79 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15. The firm's 50-day simple moving average is $405.12 and its two-hundred day simple moving average is $396.59.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.54 by $0.14. The business had revenue of $8.95 billion during the quarter, compared to analysts' expectations of $8.53 billion. Eaton had a return on equity of 25.09% and a net margin of 12.18%. The firm's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.07 earnings per share. Analysts anticipate that Eaton Corporation, PLC will post 13.80 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Tuesday, November 10th will be given a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.40 annualized dividend and a yield of 1.3%. Eaton's dividend payout ratio is 43.96%.

About Eaton

Eaton is a global power management company that designs and manufactures products and services intended to help customers manage electrical, hydraulic and mechanical power. Founded in 1911, the company serves customers across a range of industries, including utilities, commercial buildings, data centers, aerospace and transportation.

Its offerings include electrical distribution and circuit protection equipment, power quality and backup systems, and power management software and services.

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