Summit Financial LLC Has $2.64 Million Stock Position in Eaton Corporation, PLC $ETN

Key Points

• Summit Financial LLC increased its stake in Eaton Corporation by 45.8% in the first quarter, now holding shares valued at $2.642 million.
• Eaton reported earnings of $2.95 per share for the latest quarter, exceeding analyst expectations, and recorded $7.03 billion in revenue.
• The company also announced a quarterly dividend of $1.04 per share, reflecting a 1.2% dividend yield and a payout ratio of 41.85%.

Summit Financial LLC boosted its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 45.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,719 shares of the industrial products company's stock after purchasing an additional 3,053 shares during the quarter. Summit Financial LLC's holdings in Eaton were worth $2,642,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ETN. Nuveen LLC acquired a new position in Eaton during the 1st quarter valued at $1,472,231,000. GAMMA Investing LLC raised its stake in Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after purchasing an additional 3,580,198 shares during the last quarter. Fayez Sarofim & Co raised its stake in 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 purchasing an additional 880,656 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in Eaton during the 4th quarter valued at $231,552,000. Finally, Janus Henderson Group PLC raised its stake in Eaton by 24.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock valued at $998,144,000 after purchasing an additional 588,370 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Olivier Leonetti sold 16,018 shares of Eaton stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the transaction, the insider owned 630 shares of the company's stock, valued at $225,785.70. This trade represents a 96.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ETN. The Goldman Sachs Group boosted their price target on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Eaton from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Sanford C. Bernstein reissued an "outperform" rating and issued a $396.00 price target on shares of Eaton in a report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, 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 report on Friday, May 16th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Eaton currently has an average rating of "Moderate Buy" and an average target price of $379.10.

Eaton Trading Down 0.1%

Shares of NYSE ETN traded down $0.41 during mid-day trading on Wednesday, hitting $351.61. The company's stock had a trading volume of 1,389,113 shares, compared to its average volume of 2,987,946. The stock has a market cap of $136.88 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.55 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. Eaton Corporation, PLC has a one year low of $231.85 and a one year high of $399.56. The company's fifty day simple moving average is $360.96 and its 200-day simple moving average is $320.23.

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 (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.03. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm earned $2.73 EPS. The company's revenue for the quarter 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. On average, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.2%. Eaton's dividend payout ratio (DPR) 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.