Lord Abbett & CO. LLC Has $13.06 Million Stock Position in Eaton Corporation, PLC $ETN

Key Points

• Lord Abbett & CO. LLC significantly reduced its stake in Eaton Corporation, PLC by 91.0%, ending the first quarter with 48,061 shares valued at $13,064,000 after selling 488,190 shares.
• Insider Olivier Leonetti sold 16,018 shares of Eaton at an average price of $358.39, which indicates a 96.22% decrease in his ownership position.
• Eaton Corporation reported an earnings per share (EPS) of $2.95 for the most recent quarter, exceeding analysts' expectations, with a revenue increase of 10.7% year-over-year.

Lord Abbett & CO. LLC decreased its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 91.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,061 shares of the industrial products company's stock after selling 488,190 shares during the period. Lord Abbett & CO. LLC's holdings in Eaton were worth $13,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ETN. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the fourth quarter valued at about $26,000. IMA Advisory Services Inc. acquired a new stake in shares of Eaton during the 1st quarter worth approximately $25,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton during the 4th quarter worth approximately $33,000. Creative Financial Designs Inc. ADV grew its stake in shares of Eaton by 102.0% during the 1st 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 during the period. Finally, Abound Wealth Management grew its stake in shares of Eaton by 73.8% during the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after purchasing an additional 62 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was 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 trade represents a 96.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company's stock.

Eaton Price Performance

ETN stock traded down $4.9280 on Tuesday, reaching $348.5720. 1,868,562 shares of the company's stock were exchanged, compared to its average volume of 3,038,781. The stock has a fifty day moving average of $358.67 and a 200-day moving average of $318.89. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The firm has a market cap of $135.70 billion, a PE ratio of 35.07, a P/E/G ratio of 2.59 and a beta of 1.18. 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 (NYSE:ETN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.03. The company had revenue of $7.03 billion for 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%.Eaton's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, equities analysts predict that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company 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 $1.04 dividend. The ex-dividend date is Thursday, August 7th. This represents a $4.16 annualized dividend and a dividend yield of 1.2%. Eaton's dividend payout ratio (DPR) is presently 41.85%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ETN. The Goldman Sachs Group lifted their price target on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays boosted their price objective 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. BNP Paribas began coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price for the company. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research report on Monday, July 14th. Finally, Citigroup boosted their price objective on Eaton from $420.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $383.63.

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.