American Century Companies Inc. Sells 51,909 Shares of Eaton Corporation, PLC $ETN

Key Points

• American Century Companies Inc. reduced its stake in Eaton Corporation by 11.9%, now holding 384,300 shares valued at approximately $104 million, as reported in their latest SEC filing.
• Despite this decrease, several institutional investors like Vanguard Group and Goldman Sachs have increased their holdings in Eaton, indicating a strong institutional interest in the stock.
• Eaton recently announced a quarterly dividend of $1.04 per share, leading to an annualized payout of $4.16 and a yield of 1.2%.

American Century Companies Inc. trimmed its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 11.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,300 shares of the industrial products company's stock after selling 51,909 shares during the period. American Century Companies Inc. owned about 0.10% of Eaton worth $104,464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. Nuveen LLC bought a new position in Eaton during the 1st quarter worth approximately $1,472,231,000. GAMMA Investing LLC raised its stake in Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after buying an additional 3,580,198 shares during the last quarter. Capital International Investors acquired a new position in Eaton in the fourth quarter valued at $523,541,000. Fayez Sarofim & Co boosted its position in Eaton by 606.3% during the first quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company's stock valued at $282,262,000 after acquiring an additional 880,656 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new stake in Eaton during the 4th quarter worth about $231,552,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ETN. Wells Fargo & Company boosted their price target on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Barclays boosted their target price on shares of Eaton from $340.00 to $344.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group raised their price target on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Raymond James Financial upped their price objective on shares of Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $383.63.

Eaton Stock Down 1.4%

Shares of NYSE:ETN traded down $4.9280 during mid-day trading on Tuesday, hitting $348.5720. 1,868,562 shares of the company traded hands, compared to its average volume of 2,632,172. The stock has a 50-day moving average price of $359.15 and a two-hundred day moving average price of $319.09. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $399.56. The stock has a market cap of $135.70 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.61 and a beta of 1.18. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $7.03 billion for the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The business's revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $2.73 EPS. 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 forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

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

Insider Buying and Selling at Eaton

In other news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

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.