Eaton Corporation, PLC $ETN Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its stake in Eaton Corporation by 1.9%, selling 1,957 shares, leaving it with a total of 102,638 shares valued at about $27.9 million.
• Wall Street analysts show optimism for Eaton, with a consensus rating of "Moderate Buy" and an average price target of $379.10, reflecting an upward trend in analyst ratings.
• Eaton Corporation announced a quarterly dividend of $1.04 per share, indicating a commitment to returning profits to shareholders amidst solid financial performance in recent quarters.

MetLife Investment Management LLC lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 102,638 shares of the industrial products company's stock after selling 1,957 shares during the quarter. MetLife Investment Management LLC's holdings in Eaton were worth $27,900,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IMA Advisory Services Inc. purchased a new position in shares of Eaton during the 1st quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in shares of Eaton during the 4th quarter worth approximately $26,000. Creative Financial Designs Inc. ADV lifted its holdings 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 acquiring an additional 51 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in Eaton in the fourth quarter valued at approximately $33,000. Finally, Abound Wealth Management lifted its holdings in Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Trading Up 1.2%

NYSE ETN traded up $4.13 on Thursday, reaching $355.53. The stock had a trading volume of 1,772,005 shares, compared to its average volume of 2,984,185. The firm has a market capitalization of $138.41 billion, a price-to-earnings ratio of 35.77, 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 Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $399.56. The stock has a fifty day moving average price of $361.31 and a two-hundred day moving average price of $320.44.

Eaton (NYSE:ETN - Get Free Report) last announced 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. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the company earned $2.73 earnings per share. The firm'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. As a group, sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th were given a dividend of $1.04 per share. The ex-dividend date of this dividend 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

In related news, insider Olivier Leonetti sold 16,018 shares of the stock in a transaction 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 transaction, the insider owned 630 shares of the company's stock, valued at $225,785.70. This represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on Eaton in a report on Wednesday, August 20th. They issued a "hold" rating and a $336.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Rothschild Redb upgraded Eaton to a "hold" rating in a report on Wednesday, August 20th. Morgan Stanley upped their price objective on Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, BNP Paribas assumed coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Eaton currently has an average rating of "Moderate Buy" and a consensus target price of $379.10.

About Eaton

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.