Horizon Investments LLC Reduces Position in Eaton Corporation, PLC $ETN

Key Points

• Horizon Investments LLC reduced its stake in Eaton Corporation by 20.4%, decreasing its holdings to 12,934 shares valued at approximately $3.5 million.
• Eaton reported a quarterly earnings per share of $2.95, surpassing analyst expectations, with revenues of $7.03 billion, marking a 10.7% increase year-over-year.
• The company declared a quarterly dividend of $1.04 per share, resulting in an annualized dividend of $4.16 and a yield of 1.2%.

Horizon Investments LLC reduced its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 20.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,934 shares of the industrial products company's stock after selling 3,316 shares during the quarter. Horizon Investments LLC's holdings in Eaton were worth $3,504,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ETN. IMA Advisory Services Inc. bought a new position in Eaton in the 1st quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in Eaton during the fourth quarter valued at about $26,000. Creative Financial Designs Inc. ADV raised its holdings in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the period. Vermillion Wealth Management Inc. bought a new stake in Eaton during the fourth quarter valued at about $33,000. Finally, Abound Wealth Management raised its holdings in Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 62 shares during the period. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 16,018 shares of Eaton stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of the transaction, the insider owned 630 shares in the company, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Citigroup raised their price target on Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Raymond James Financial raised their price objective on Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, KeyCorp raised their price objective on Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and a consensus target price of $383.63.

Eaton Trading Down 1.4%

ETN traded down $4.9280 on Tuesday, hitting $348.5720. The company had a trading volume of 1,868,562 shares, compared to its average volume of 3,038,781. The company has a market cap of $135.70 billion, a PE ratio of 35.07, a PEG ratio of 2.59 and a beta of 1.18. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month 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. The business's fifty day simple moving average is $358.67 and its 200 day simple moving average is $318.89.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly 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 analyst estimates of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business 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. Equities research analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be given a $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.2%. Eaton's dividend payout ratio (DPR) is currently 41.85%.

Eaton 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.