Paloma Partners Management Co Buys Shares of 10,000 Eaton Corporation, PLC $ETN

Key Points

• Paloma Partners Management Co acquired 10,000 shares of Eaton Corporation, PLC, valued at approximately $2.7 million, signaling significant institutional interest in the company.
• Eaton's recent quarterly earnings exceeded expectations, with $2.95 EPS reported, and revenue of $7.03 billion, reflecting a 10.7% year-over-year increase.
• The company's stock has been given an average rating of "Moderate Buy" by analysts, with a target price of $379.10, indicating potential for future growth in the stock value.

Paloma Partners Management Co bought a new position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,000 shares of the industrial products company's stock, valued at approximately $2,718,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Eaton by 0.8% in the first quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company's stock valued at $10,195,725,000 after acquiring an additional 289,819 shares during the last quarter. Nuveen LLC bought a new position in Eaton in the first quarter valued at approximately $1,472,231,000. Nuveen Asset Management LLC increased its stake in Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock valued at $1,550,226,000 after acquiring an additional 192,482 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Eaton by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company's stock valued at $1,083,442,000 after acquiring an additional 427,509 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Eaton by 15.8% in the first quarter. Invesco Ltd. now owns 3,913,209 shares of the industrial products company's stock valued at $1,063,727,000 after acquiring an additional 533,774 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Trading Up 0.2%

Shares of NYSE:ETN traded up $0.82 during mid-day trading on Friday, reaching $349.04. 2,120,724 shares of the company's stock were exchanged, compared to its average volume of 1,880,771. The firm has a market capitalization of $135.88 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.56 and a beta of 1.16. The business's fifty day moving average price is $362.31 and its 200-day moving average price is $322.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 1.24. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, topping analysts' consensus estimates 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 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 quarter in the previous 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, research analysts predict 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 issued a dividend of $1.04 per share. The ex-dividend date was Thursday, August 7th. This represents a $4.16 annualized dividend and a dividend yield of 1.2%. Eaton's dividend payout ratio is currently 41.85%.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Eaton from $375.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. 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 note on Thursday, August 7th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $396.00 target price on shares of Eaton in a research note on Monday, July 14th. BNP Paribas Exane initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Finally, BNP Paribas initiated coverage on shares of Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $379.10.

Insider Buying and Selling at Eaton

In other 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 transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.30% of the company's stock.

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.