HCR Wealth Advisors Acquires 1,481 Shares of Eaton Corporation, PLC $ETN

Key Points

• HCR Wealth Advisors increased its stake in Eaton Corporation by 39.5% during Q2 2023, now holding 5,229 shares valued at approximately $1.87 million.
• Eaton reported a strong quarterly performance with $7.03 billion in revenue, surpassing estimates, and an EPS of $2.95, beating expectations by $0.03.
• The company declared a quarterly dividend of $1.04 per share, with an annual yield of 1.1% and a payout ratio of 41.85%.

HCR Wealth Advisors lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 39.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,229 shares of the industrial products company's stock after purchasing an additional 1,481 shares during the quarter. HCR Wealth Advisors' holdings in Eaton were worth $1,867,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in shares of Eaton in the first quarter worth $25,000. Creative Financial Designs Inc. ADV lifted its position in shares of Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Abound Wealth Management lifted its position in shares of Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares in the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of Eaton in the first quarter worth $41,000. Finally, Saudi Central Bank bought a new stake in shares of Eaton in the first quarter worth $42,000. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of ETN stock opened at $367.24 on Tuesday. The firm has a market capitalization of $142.96 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. The firm has a fifty day simple moving average of $363.39 and a two-hundred day simple moving average of $331.25. 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 Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 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 net margin of 15.11% and a return on equity of 23.91%. Eaton's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.73 EPS. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. Analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Daiwa Capital Markets began coverage on shares of Eaton in a research report on Thursday, September 11th. They set an "outperform" rating and a $390.00 price target on the stock. Wall Street Zen lowered shares of Eaton from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $396.00 price target on shares of Eaton in a research report on Monday, July 14th. Melius Research raised shares of Eaton from a "hold" rating to a "buy" rating and upped their price target for the stock from $412.00 to $495.00 in a research report on Monday, September 15th. Finally, Morgan Stanley upped their price target on shares of Eaton from $375.00 to $425.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $390.68.

Insider Buying and Selling

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the business's stock in a transaction 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 sale, the insider owned 630 shares in the company, valued at approximately $225,785.70. The trade was a 96.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.

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