Raymond James Financial Inc. Decreases Position in Eaton Corporation, PLC $ETN

Key Points

• Raymond James Financial Inc. reduced its stake in Eaton Corporation by 7.8%, owning approximately 5.31 million shares, making it the 25th largest position in their portfolio.
• Research analysts have increased price targets for Eaton, with Goldman Sachs setting a new target of $382.00 and Citigroup raising theirs to $425.00, while the consensus rating remains a "Moderate Buy."
• Eaton recently announced a quarterly dividend of $1.04 per share, representing an annualized yield of 1.2%, with a payout ratio of 41.85%.

Raymond James Financial Inc. lowered its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,312,744 shares of the industrial products company's stock after selling 451,973 shares during the quarter. Eaton comprises approximately 0.5% of Raymond James Financial Inc.'s holdings, making the stock its 25th largest holding. Raymond James Financial Inc. owned 1.36% of Eaton worth $1,444,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Eaton during the 1st quarter worth about $1,472,231,000. GAMMA Investing LLC increased its stake in Eaton by 27,281.9% during the 1st 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. Capital International Investors bought a new stake in Eaton during the 4th quarter worth approximately $523,541,000. Fayez Sarofim & Co raised its holdings 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 valued at $282,262,000 after purchasing an additional 880,656 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Eaton in the fourth quarter valued at approximately $231,552,000. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of NYSE:ETN traded down $4.9280 during trading on Tuesday, hitting $348.5720. 1,868,562 shares of the company were exchanged, compared to its average volume of 2,632,172. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market cap of $135.70 billion, a PE ratio of 35.07, a P/E/G ratio of 2.61 and a beta of 1.18. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. The stock has a 50 day moving average of $358.67 and a 200 day moving average of $318.89.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data 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%.Eaton's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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. As a group, equities research analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 7th. Eaton's dividend payout ratio is currently 41.85%.

Insiders Place Their Bets

In other news, insider Olivier Leonetti sold 16,018 shares of Eaton stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the completion of the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ETN. Evercore ISI raised their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. The Goldman Sachs Group boosted their target price on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. BNP Paribas Exane assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective for the company. BNP Paribas started coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Finally, Citigroup upped their price objective on Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $383.63.

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.