Provenance Wealth Advisors LLC Acquires 3,466 Shares of Eaton Corporation, PLC $ETN

Key Points

• Provenance Wealth Advisors increased its Eaton stake by 654% in the third quarter, buying 3,466 shares and bringing its total holdings to 3,996 shares, valued at about $1.72 million.
• Eaton beat quarterly earnings and revenue estimates: adjusted EPS was $3.68 versus $3.54 expected, while revenue rose 28% year over year to $8.95 billion. Record orders and a 46% expansion in Electrical backlog supported the company’s higher organic-growth outlook.
• Institutional investors own nearly 83% of Eaton’s shares, and analysts have a “Moderate Buy” consensus rating with an average price target of $484.14. Eaton also announced a quarterly dividend of $1.10 per share.

Provenance Wealth Advisors LLC increased its holdings in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 654.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,996 shares of the industrial products company's stock after purchasing an additional 3,466 shares during the period. Provenance Wealth Advisors LLC's holdings in Eaton were worth $1,717,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Eaton by 19.6% in the second quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company's stock valued at $2,909,235,000 after buying an additional 1,120,567 shares during the period. National Pension Service boosted its holdings in shares of Eaton by 3.5% during the 2nd quarter. National Pension Service now owns 864,731 shares of the industrial products company's stock worth $368,479,000 after buying an additional 29,436 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Eaton by 1.4% during the 3rd quarter. AMF Tjanstepension AB now owns 364,814 shares of the industrial products company's stock worth $156,764,000 after buying an additional 5,168 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Eaton by 87.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 282,750 shares of the industrial products company's stock worth $121,501,000 after buying an additional 131,624 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of Eaton by 112.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 336,060 shares of the industrial products company's stock worth $120,199,000 after buying an additional 178,000 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 7.0%

NYSE ETN opened at $391.68 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. Eaton Corporation, PLC has a 52 week low of $311.92 and a 52 week high of $478.00. The business has a 50 day moving average price of $409.63 and a 200-day moving average price of $396.56. The company has a market cap of $152.13 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 2.12 and a beta of 1.15.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The industrial products company reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.54 by $0.14. Eaton had a return on equity of 24.58% and a net margin of 12.75%. The company had revenue of $8.95 billion for the quarter, compared to analysts' expectations of $8.53 billion. During the same period last year, the business earned $3.07 EPS. Eaton's quarterly revenue was up 28.0% compared to the same quarter last year. As a group, equities analysts expect that Eaton Corporation, PLC will post 13.59 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, November 10th. This represents a $4.40 annualized dividend and a yield of 1.1%. Eaton's dividend payout ratio is presently 44.76%.

Eaton News Roundup

Here are the key news stories impacting Eaton this week:

• Positive Sentiment: Adjusted third-quarter earnings of $3.68 per share topped the $3.54 consensus, while revenue rose 28% year over year to a record $8.95 billion. Organic sales increased 19%. Eaton Q3 Earnings Top Estimates on Strong Organic Sales, View Up
• Positive Sentiment: Orders reached records across all three segments, and Electrical backlog expanded 46%. Eaton raised its organic-growth guidance, citing accelerating demand that includes data-center infrastructure. Eaton Reports Record Third Quarter 2026 Results
• Positive Sentiment: A Bernstein research call argued that political risks to U.S. data-center construction were overstated, helping lift Eaton and other power-infrastructure shares. This could ease a concern that had weighed on the AI-infrastructure trade. Data-center fears called overblown
• Negative Sentiment: GAAP EPS was $2.77, below adjusted EPS of $3.68; amortization and acquisition-related charges contributed to the gap. Higher interest costs tied to acquisitions and cash conversion remain execution points for investors. Eaton Sales Up 28%; GAAP EPS Rises Just 7%
• Negative Sentiment: Despite the earnings beat, recent weakness across AI-power stocks reflects lingering concerns about data-center spending and the sustainability of AI-related investment. Eaton Earnings Are Rock Solid. It Won’t Be Enough to Ease AI Concerns.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Eaton from $493.00 to $521.00 and gave the company a "buy" rating in a research report on Wednesday, September 30th. Argus raised their price target on shares of Eaton from $475.00 to $528.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Mizuho set a $485.00 price objective on shares of Eaton in a report on Wednesday. Raymond James Financial increased their price objective on shares of Eaton from $465.00 to $525.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Citigroup increased their price objective on shares of Eaton from $485.00 to $498.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $484.14.

Insiders Place Their Bets

In other Eaton news, insider Heath Monesmith sold 18,036 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $458.04, for a total value of $8,261,209.44. Following the transaction, the insider directly owned 50,368 shares of the company's stock, valued at approximately $23,070,558.72. This trade represents a 26.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gerald Johnson acquired 130 shares of Eaton stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $455.90 per share, with a total value of $59,267.00. Following the completion of the acquisition, the director directly owned 1,829 shares of the company's stock, valued at approximately $833,841.10. The trade was a 7.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Eaton Profile

Eaton Corporation plc is a global intelligent power management company that helps businesses, utilities, data centers, manufacturers and other organizations manage electrical, hydraulic and mechanical power more safely, efficiently and reliably. Its solutions support applications ranging from power distribution and backup systems to industrial automation, building infrastructure and transportation.

The company's Electrical segment provides products and systems such as circuit breakers, switchgear, power distribution equipment, surge protection, energy management software and data center power solutions.

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