PDT Partners LLC Increases Position in Eaton Corporation, PLC $ETN

Key Points

• PDT Partners LLC increased its stake in Eaton Corporation by 151.7%, owning 21,900 shares valued at approximately $5.95 million following an additional purchase of 13,200 shares in the first quarter.
• Research analysts have recently set a consensus price target of $379.10 for Eaton, with several firms raising their targets, including Morgan Stanley which increased its target from $375.00 to $425.00.
• Eaton announced a quarterly dividend of $1.04 per share, with a current dividend yield of 1.2% and a payout ratio of 41.85%.

PDT Partners LLC increased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 151.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,900 shares of the industrial products company's stock after acquiring an additional 13,200 shares during the period. PDT Partners LLC's holdings in Eaton were worth $5,953,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Eaton during the fourth quarter worth about $26,000. IMA Advisory Services Inc. bought a new stake in Eaton during the first quarter worth about $25,000. Vermillion Wealth Management Inc. bought a new stake in Eaton during the fourth quarter worth about $33,000. Creative Financial Designs Inc. ADV boosted its stake in Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after acquiring an additional 51 shares in the last quarter. Finally, Abound Wealth Management boosted its stake in Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock worth $40,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

ETN stock traded up $0.82 during midday trading on Friday, reaching $349.04. 2,120,724 shares of the company's stock traded hands, compared to its average volume of 1,880,771. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. The stock has a market cap of $135.88 billion, a P/E ratio of 35.11, a PEG ratio of 2.56 and a beta of 1.16. 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 stock's 50-day moving average is $362.31 and its 200 day moving average is $322.18.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The business had revenue of $7.03 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same period in the prior year, the company earned $2.73 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. 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, analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The firm also recently announced 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. This represents a $4.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 7th. Eaton's dividend payout ratio is currently 41.85%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ETN shares. 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. Evercore ISI upped their target price on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. BNP Paribas started coverage on shares of Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Barclays upped their target price on shares of Eaton from $340.00 to $344.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $379.10.

Insider Activity

In other news, insider Olivier Leonetti sold 16,018 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total value of $5,740,691.02. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.