Element Capital Management LLC Takes $2.60 Million Position in Eaton Corporation, PLC $ETN

Key Points

• Element Capital Management LLC has acquired a new stake in Eaton Corporation, purchasing 9,550 shares valued at approximately $2.6 million during the first quarter.
• Multiple hedge funds have either increased or decreased their stakes in Eaton, with institutional investors now holding 82.97% of the company's stock.
• Eaton recently reported a quarterly earnings per share of $2.95, surpassing analysts' expectations, and announced a quarterly dividend of $1.04 to be paid on August 22nd.

Element Capital Management LLC bought a new stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,550 shares of the industrial products company's stock, valued at approximately $2,596,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Aberdeen Group plc raised its stake in Eaton by 128.4% during the 1st quarter. Aberdeen Group plc now owns 444,390 shares of the industrial products company's stock valued at $119,659,000 after buying an additional 249,788 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Eaton by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,408,680 shares of the industrial products company's stock worth $382,897,000 after purchasing an additional 60,820 shares in the last quarter. Providence Capital Advisors LLC increased its stake in shares of Eaton by 1.7% in the 1st quarter. Providence Capital Advisors LLC now owns 19,539 shares of the industrial products company's stock worth $5,311,000 after purchasing an additional 333 shares in the last quarter. Azimuth Capital Investment Management LLC increased its stake in shares of Eaton by 2.1% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 3,791 shares of the industrial products company's stock worth $1,031,000 after purchasing an additional 78 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its stake in shares of Eaton by 444.1% in the 1st quarter. Fox Run Management L.L.C. now owns 3,890 shares of the industrial products company's stock worth $1,057,000 after purchasing an additional 3,175 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETN has been the topic of several analyst reports. Barclays lifted their price target on shares of Eaton from $340.00 to $344.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $396.00 price objective on shares of Eaton in a report on Monday, July 14th. Raymond James Financial increased 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. Royal Bank Of Canada increased their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Eaton from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $383.63.

Insider Activity at Eaton

In other news, insider Olivier Leonetti sold 16,018 shares of the firm's 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 transaction, the insider directly owned 630 shares of the company's stock, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.30% of the company's stock.

Eaton Trading Down 1.4%

Eaton stock traded down $4.9280 during midday trading on Tuesday, reaching $348.5720. The stock had a trading volume of 1,868,562 shares, compared to its average volume of 3,038,781. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. The firm has a market cap of $135.70 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The company has a fifty day moving average of $358.67 and a 200 day moving average of $318.89.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $2.73 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Eaton's dividend payout ratio (DPR) is 41.85%.

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.