Eaton Corporation, PLC $ETN Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in Eaton Corporation by 17.6%, selling 23,495 shares and lowering its total holdings to 109,727 shares valued at approximately $29.83 million.
• Several institutional investors have increased or initiated new positions in Eaton, with notable increases including a 102.0% rise in stake by Creative Financial Designs Inc. ADV this quarter.
• Eaton's latest earnings report showed a beat on estimates, reporting $2.95 EPS compared to an expected $2.92, and the company also declared a quarterly dividend of $1.04 per share.

Gabelli Funds LLC lessened its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,727 shares of the industrial products company's stock after selling 23,495 shares during the period. Gabelli Funds LLC's holdings in Eaton were worth $29,827,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new position in Eaton in the 1st quarter valued at $25,000. Capital A Wealth Management LLC acquired a new position in Eaton in the fourth quarter valued at $26,000. Creative Financial Designs Inc. ADV increased its stake in Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new position in Eaton during the fourth quarter worth about $33,000. Finally, Abound Wealth Management boosted its stake in Eaton by 73.8% in the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Eaton Stock Down 1.7%

NYSE:ETN traded down $6.21 during mid-day trading on Friday, hitting $349.13. The company had a trading volume of 2,386,036 shares, compared to its average volume of 2,458,865. The business has a fifty day simple moving average of $362.10 and a 200-day simple moving average of $320.91. The firm has a market capitalization of $135.92 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 2.62 and a beta of 1.18. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. 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 posted its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. The business 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 company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last 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. Equities analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.2%. Eaton's payout ratio is 41.85%.

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ETN. The Goldman Sachs Group increased their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Evercore ISI increased their price target on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Rothschild Redb raised shares of Eaton to a "hold" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company increased their target price on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus price target of $379.10.

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.