Sumitomo Mitsui DS Asset Management Company Ltd Sells 4,962 Shares of Eaton Corporation, PLC $ETN

Key Points

• Sumitomo Mitsui DS Asset Management reduced its Eaton stake by 5.1%, selling 4,962 shares and retaining 92,965 shares valued at approximately $39.9 million. Institutional investors collectively own 82.97% of Eaton.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $484.10. Several firms recently raised their targets, including RBC to $526 and Morgan Stanley to $520.
• Eaton exceeded quarterly expectations with EPS of $3.15 versus the $3.08 estimate and revenue of $8.53 billion. The company also pays an annualized dividend of $4.40 per share, yielding about 1.1%.

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,965 shares of the industrial products company's stock after selling 4,962 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Eaton were worth $39,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ETN. Kintegral Advisory LLC raised its position in Eaton by 0.6% during the third quarter. Kintegral Advisory LLC now owns 4,798 shares of the industrial products company's stock valued at $2,062,000 after acquiring an additional 27 shares in the last quarter. North Star Investment Management Corp. grew its position in Eaton by 0.3% in the first quarter. North Star Investment Management Corp. now owns 8,101 shares of the industrial products company's stock worth $2,897,000 after acquiring an additional 28 shares in the last quarter. Bogart Wealth LLC increased its stake in shares of Eaton by 1.3% during the 1st quarter. Bogart Wealth LLC now owns 2,184 shares of the industrial products company's stock worth $781,000 after purchasing an additional 29 shares during the last quarter. Bullock Wealth Management Group increased its stake in shares of Eaton by 1.8% during the 3rd quarter. Bullock Wealth Management Group now owns 1,694 shares of the industrial products company's stock worth $741,000 after purchasing an additional 30 shares during the last quarter. Finally, Tanager Wealth Management LLP raised its holdings in shares of Eaton by 5.4% during the 2nd quarter. Tanager Wealth Management LLP now owns 606 shares of the industrial products company's stock valued at $258,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Adam Wadecki sold 525 shares of Eaton stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $440.54, for a total value of $231,283.50. Following the transaction, the insider directly owned 1,054 shares of the company's stock, valued at $464,329.16. The trade was a 33.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gerald Johnson purchased 130 shares of the business's 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 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. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

ETN has been the subject of several analyst reports. Wall Street Zen lowered shares of Eaton from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Morgan Stanley raised their target price on Eaton from $500.00 to $520.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Citigroup boosted their price target on Eaton from $485.00 to $498.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Royal Bank Of Canada upped their price target on Eaton from $512.00 to $526.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 14th. Finally, BMO Capital Markets increased their price objective on Eaton from $477.00 to $487.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $484.10.

Eaton Price Performance

Shares of Eaton stock opened at $391.93 on Tuesday. The firm has a fifty day simple moving average of $421.96 and a 200-day simple moving average of $410.95. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.91. Eaton Corporation, PLC has a 1-year low of $311.92 and a 1-year high of $478.00. The stock has a market capitalization of $152.23 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.27 and a beta of 1.13.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.07. The company had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.16 billion. Eaton had a return on equity of 24.58% and a net margin of 12.75%. The firm's revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. On average, sell-side analysts expect that Eaton Corporation, PLC will post 13.57 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $4.40 dividend on an annualized basis and a yield of 1.1%. Eaton's dividend payout ratio (DPR) is 44.76%.

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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