Oak Harvest Investment Services Lowers Stock Holdings in Eaton Corporation, PLC $ETN

Key Points

• Oak Harvest Investment Services reduced its stake in Eaton Corporation by 77.7%, now holding 3,500 shares valued at $951,000 after selling 12,185 shares.
• Several institutional investors have recently made significant changes to their positions in Eaton, with Nuveen LLC acquiring a stake worth approximately $1.47 billion in the first quarter.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Eaton Corporation, with an average price target of $379.10.

Oak Harvest Investment Services lessened its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 77.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,500 shares of the industrial products company's stock after selling 12,185 shares during the quarter. Oak Harvest Investment Services' holdings in Eaton were worth $951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. ICONIQ Capital LLC increased its stake in Eaton by 22.9% during the 1st quarter. ICONIQ Capital LLC now owns 1,851 shares of the industrial products company's stock valued at $503,000 after purchasing an additional 345 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in Eaton during the 1st quarter valued at $9,119,000. Southeast Asset Advisors LLC increased its stake in Eaton by 21.6% during the 1st quarter. Southeast Asset Advisors LLC now owns 5,623 shares of the industrial products company's stock valued at $1,528,000 after purchasing an additional 1,000 shares in the last quarter. Jump Financial LLC increased its stake in Eaton by 282.5% during the 1st quarter. Jump Financial LLC now owns 56,807 shares of the industrial products company's stock valued at $15,442,000 after purchasing an additional 41,954 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in Eaton by 3.9% during the 1st quarter. APG Asset Management N.V. now owns 428,813 shares of the industrial products company's stock valued at $107,910,000 after purchasing an additional 16,025 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Analyst Upgrades and Downgrades

ETN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Redburn Atlantic initiated coverage on shares of Eaton in a research note on Wednesday, August 20th. They issued a "hold" rating and a $336.00 target price for the company. Sanford C. Bernstein reiterated an "outperform" rating and issued a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. Raymond James Financial upped their target price on shares of Eaton from $380.00 to $415.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Citigroup upped their target price on shares of Eaton from $420.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.10.

Insider Buying and Selling

In other Eaton 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 transaction of $5,740,691.02. Following the sale, the insider directly 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.

Eaton Stock Performance

Shares of NYSE:ETN traded down $0.41 during midday trading on Wednesday, reaching $351.61. The company had a trading volume of 1,433,755 shares, compared to its average volume of 2,579,836. The stock has a market cap of $136.88 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.59 and a beta of 1.18. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. The company's 50 day moving average price is $360.96 and its 200 day moving average price is $320.23.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm 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, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.2%. Eaton's dividend payout ratio is 41.85%.

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.