Eaton Corporation, PLC $ETN Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. reduced its stake in Eaton Corporation by 14.3%, now holding approximately 306,965 shares valued at $83.44 million.
• Other significant investors have increased their positions in Eaton, including Nuveen LLC with a newly acquired position worth approximately $1.47 billion and GAMMA Investing LLC raising holdings by 27,281.9% to $976.77 million.
• Eaton reported a quarterly EPS of $2.95, exceeding analyst expectations, with a net margin of 15.11% and revenue of $7.03 billion, marking a year-over-year increase of 10.7%.

Panagora Asset Management Inc. lowered its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 14.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 306,965 shares of the industrial products company's stock after selling 51,200 shares during the period. Panagora Asset Management Inc. owned about 0.08% of Eaton worth $83,442,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the 4th quarter valued at about $26,000. IMA Advisory Services Inc. purchased a new position in shares of Eaton in the 1st quarter valued at about $25,000. Vermillion Wealth Management Inc. purchased a new position in shares of Eaton in the 4th quarter valued at about $33,000. Creative Financial Designs Inc. ADV increased its stake in shares of Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Finally, Abound Wealth Management increased its stake in shares of Eaton by 73.8% in the 1st quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

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 stock was sold at an average price of $358.39, for a total value of $5,740,691.02. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup lifted their price target on Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays boosted their price objective on Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Rothschild & Co Redburn started coverage on Eaton in a research note on Wednesday, August 20th. They set a "neutral" rating and a $336.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $379.10.

Eaton Price Performance

Shares of Eaton stock traded down $1.13 on Wednesday, hitting $342.62. 1,485,571 shares of the company were exchanged, compared to its average volume of 2,968,594. The stock has a market capitalization of $133.38 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.57 and a beta of 1.16. The company has a 50-day moving average price of $362.41 and a 200 day moving average price of $321.51. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $399.56. 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 issued its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.03. The business had revenue of $7.03 billion for the quarter, compared to analysts' expectations of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.73 EPS. 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 predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

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