Rafferty Asset Management LLC Sells 7,007 Shares of Eaton Corporation, PLC $ETN

Key Points

• Rafferty Asset Management LLC reduced its stake in Eaton Corporation by 18.6% during the first quarter, selling 7,007 shares, leaving it with a total of 30,580 shares valued at approximately $8.31 million.
• Institutional investments in Eaton have increased significantly, with GAMMA Investing LLC boosting its holdings by over 27,000% to 3.59 million shares after acquiring additional shares worth nearly $977 million.
• Eaton reported a quarterly earnings surprise with an EPS of $2.95, exceeding analyst expectations, and its revenue grew 10.7% year-over-year, reaching $7.03 billion.

Rafferty Asset Management LLC lessened its stake in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 18.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,580 shares of the industrial products company's stock after selling 7,007 shares during the period. Rafferty Asset Management LLC's holdings in Eaton were worth $8,313,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Eaton in the first quarter worth $1,472,231,000. GAMMA Investing LLC boosted its holdings in shares of Eaton by 27,281.9% in the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after purchasing an additional 3,580,198 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Eaton by 85.4% during the 1st quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company's stock valued at $986,966,000 after purchasing an additional 1,672,175 shares during the last quarter. Fayez Sarofim & Co raised its holdings in shares of Eaton by 606.3% during the 1st quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company's stock valued at $282,262,000 after buying an additional 880,656 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in Eaton in the 4th quarter worth approximately $231,552,000. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction dated 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 approximately $225,785.70. This trade represents a 96.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ETN. Barclays lifted their price target 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. Royal Bank Of Canada boosted their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. BNP Paribas Exane started coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price objective on the stock. KeyCorp lifted their price objective on Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial increased their target price on Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.10.

Eaton Stock Down 0.1%

NYSE ETN opened at $351.61 on Thursday. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The stock has a market capitalization of $136.88 billion, a PE ratio of 35.37, a PEG ratio of 2.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76. The business's 50-day moving average is $361.31 and its 200 day moving average is $320.44.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly 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. The business had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%.Eaton's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company 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. Sell-side analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th were given 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 payout ratio is presently 41.85%.

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.

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