Harvest Portfolios Group Inc. Acquires 1,625 Shares of Eaton Corporation, PLC $ETN

Key Points

• Harvest Portfolios Group Inc. increased its holdings in Eaton Corporation by 34.8% during Q1, now owning 6,297 shares valued at approximately $1.71 million.
• Insider Olivier Leonetti sold 16,018 shares of Eaton stock for over $5.7 million, significantly reducing their stake by 96.22%.
• Eaton's recent quarterly earnings showed an EPS of $2.95, beating analyst expectations and marking a 10.7% year-over-year revenue growth.

Harvest Portfolios Group Inc. boosted its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 34.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,297 shares of the industrial products company's stock after purchasing an additional 1,625 shares during the period. Harvest Portfolios Group Inc.'s holdings in Eaton were worth $1,712,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Eaton by 0.7% in the first quarter. GAMMA Investing LLC now owns 13,219 shares of the industrial products company's stock valued at $3,593,000 after acquiring an additional 96 shares in the last quarter. Bearing Point Capital LLC purchased a new stake in shares of Eaton in the fourth quarter valued at about $2,713,000. Brighton Jones LLC lifted its holdings in shares of Eaton by 4.9% in the first quarter. Brighton Jones LLC now owns 3,505 shares of the industrial products company's stock valued at $953,000 after purchasing an additional 164 shares in the last quarter. Kennebec Savings Bank lifted its stake in shares of Eaton by 5.4% during the first quarter. Kennebec Savings Bank now owns 2,715 shares of the industrial products company's stock valued at $738,000 after buying an additional 139 shares during the period. Finally, American National Bank & Trust increased its position in Eaton by 5.4% during the first quarter. American National Bank & Trust now owns 3,145 shares of the industrial products company's stock worth $855,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein reissued an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. KeyCorp lifted their price objective on shares of Eaton from $355.00 to $410.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Rothschild & Co Redburn assumed coverage on shares of Eaton in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $336.00 price objective on the stock. Finally, Rothschild Redb raised shares of Eaton to a "hold" rating in a research note on Wednesday, August 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.10.

Eaton Stock Performance

NYSE:ETN traded down $6.21 during trading hours on Friday, hitting $349.13. 2,386,036 shares of the company traded hands, compared to its average volume of 2,458,865. The stock has a market capitalization of $135.92 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 2.62 and a beta of 1.18. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The firm has a 50-day moving average of $362.10 and a 200 day moving average of $320.91. 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 released its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, beating 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 firm had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same period in the prior year, the company earned $2.73 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. 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 forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th were paid a $1.04 dividend. The ex-dividend date was 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 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 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 sale, the insider owned 630 shares of the company's stock, valued at approximately $225,785.70. This represents a 96.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company's stock.

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.