Glenview Trust co Increases Stake in Eaton Corporation, PLC $ETN

Key Points

• Glenview Trust co has increased its stake in Eaton Corporation, PLC by 31.7%, holding a total of 14,279 shares valued at approximately $3.88 million.
• The stock price of Eaton has recently seen a 4.1% increase, with current trading around $362.35, and the company has a market capitalization of $141.06 billion.
• Eaton reported better-than-expected earnings for the last quarter, with an EPS of $2.95, exceeding analysts' predictions and showing a year-over-year revenue growth of 10.7%.

Glenview Trust co increased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 31.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,279 shares of the industrial products company's stock after buying an additional 3,436 shares during the period. Glenview Trust co's holdings in Eaton were worth $3,881,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ETN. Nuveen LLC purchased a new stake in Eaton during the 1st quarter worth approximately $1,472,231,000. GAMMA Investing LLC increased its position in shares of Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after purchasing an additional 3,580,198 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Eaton by 85.4% in the 1st quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company's stock valued at $986,966,000 after purchasing an additional 1,672,175 shares during the last quarter. Fayez Sarofim & Co increased its position in shares of Eaton by 606.3% in the 1st 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, Invesco Ltd. increased its position in shares of Eaton by 15.8% in the 1st quarter. Invesco Ltd. now owns 3,913,209 shares of the industrial products company's stock valued at $1,063,727,000 after purchasing an additional 533,774 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Up 4.1%

ETN stock opened at $362.35 on Thursday. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $399.56. The stock has a market capitalization of $141.06 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 2.49 and a beta of 1.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. The company has a fifty day moving average of $362.07 and a 200-day moving average of $323.17.

Eaton (NYSE:ETN - Get Free Report) last released its 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. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter last year, the business earned $2.73 EPS. The business's revenue 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. As a group, analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 7th. Eaton's dividend payout ratio (DPR) is currently 41.85%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ETN shares. Morgan Stanley increased their price objective on shares of Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Sanford C. Bernstein reissued an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a research report on Monday, July 14th. Rothschild & Co Redburn started coverage on shares of Eaton in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $336.00 price objective on the stock. Rothschild Redb raised shares of Eaton to a "hold" rating in a research report on Wednesday, August 20th. Finally, Redburn Atlantic assumed coverage on shares of Eaton in a research report on Wednesday, August 20th. They issued a "hold" rating and a $336.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and an average target price of $379.10.

Insider Activity

In other news, insider Olivier Leonetti sold 16,018 shares of the 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 owned 630 shares in the company, valued at $225,785.70. This trade represents a 96.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by corporate 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.

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