MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stock Position in Eaton Corporation, PLC $ETN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Eaton Corporation by 17.4%, ending the first quarter with approximately 817,648 shares valued at $222.26 million.
• Analysts remain optimistic about Eaton, with fourteen giving it a Buy rating and a consensus price target of $379.10.
• Eaton recently announced a quarterly dividend of $1.04, resulting in an annualized payout of $4.16, which equates to a 1.2% dividend yield.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 817,648 shares of the industrial products company's stock after selling 171,807 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.21% of Eaton worth $222,263,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Nuveen LLC bought a new stake in Eaton in the 1st quarter worth about $1,472,231,000. GAMMA Investing LLC boosted its position in shares of Eaton by 27,281.9% during 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 acquiring an additional 3,580,198 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Eaton by 85.4% in the first quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company's stock valued at $986,966,000 after acquiring an additional 1,672,175 shares during the last quarter. Fayez Sarofim & Co grew its position in Eaton by 606.3% during the first quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company's stock valued at $282,262,000 after acquiring an additional 880,656 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Eaton during the 4th quarter valued at about $231,552,000. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 630 shares in the company, valued at approximately $225,785.70. This represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

Eaton Price Performance

Shares of NYSE ETN traded down $1.55 during mid-day trading on Tuesday, reaching $347.94. The company's stock had a trading volume of 1,759,315 shares, compared to its average volume of 2,942,060. 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 stock has a 50-day moving average of $362.14 and a two-hundred day moving average of $322.72. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $399.56. The stock has a market capitalization of $135.45 billion, a P/E ratio of 35.00, a P/E/G ratio of 2.57 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.03. The firm had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. Eaton's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business 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. On average, equities research analysts anticipate 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%.

Analyst Upgrades and Downgrades

ETN has been the subject of several recent research reports. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Raymond James Financial lifted their price objective on shares of Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Redburn Atlantic assumed coverage on shares of Eaton in a report on Wednesday, August 20th. They issued a "hold" rating and a $336.00 target price on the stock. Morgan Stanley increased their target price on Eaton from $375.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $396.00 target price on shares of Eaton in a report on Monday, July 14th. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $379.10.

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.