Eaton Corporation, PLC $ETN Shares Bought by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in Eaton Corporation by 9.8%, acquiring an additional 4,284 shares, bringing its total holdings to 47,963 shares valued at approximately $13 million.
• A number of hedge funds have adjusted their positions in Eaton, with Nuveen LLC investing about $1.47 billion and GAMMA Investing LLC increasing its stake by an astonishing 27,281.9% in the first quarter.
• Analyst upgrades include Raymond James raising the price target for Eaton shares from $380 to $415, highlighting a consensus rating of "Moderate Buy" with a target price averaging $379.10.

Synovus Financial Corp boosted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,963 shares of the industrial products company's stock after buying an additional 4,284 shares during the quarter. Synovus Financial Corp's holdings in Eaton were worth $13,038,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Eaton by 1.4% during the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Eaton by 17.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 136 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Eaton in the fourth quarter worth about $42,839,000. Integrated Wealth Concepts LLC raised its stake in shares of Eaton by 8.4% in the fourth quarter. Integrated Wealth Concepts LLC now owns 9,256 shares of the industrial products company's stock worth $3,072,000 after buying an additional 717 shares during the period. Finally, Nebula Research & Development LLC bought a new position in shares of Eaton during the 4th quarter valued at approximately $355,000. Institutional investors own 82.97% of the company's stock.

Insider Transactions at Eaton

In related news, insider Olivier Leonetti sold 16,018 shares of the firm's stock in a transaction 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 sale, the insider owned 630 shares in the company, valued at approximately $225,785.70. This trade represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company's stock.

Eaton Stock Up 1.2%

NYSE:ETN traded up $4.13 during mid-day trading on Thursday, reaching $355.53. The company's stock had a trading volume of 1,771,830 shares, compared to its average volume of 2,984,185. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $138.41 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. The stock has a fifty day moving average of $361.31 and a 200-day moving average of $320.44. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The company had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $2.73 earnings per share. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. Equities research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Thursday, August 7th were paid a $1.04 dividend. The ex-dividend date was Thursday, August 7th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.2%. Eaton's dividend payout ratio is presently 41.85%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Redburn Atlantic assumed coverage on shares of Eaton in a research note on Wednesday, August 20th. They set a "hold" rating and a $336.00 target price for the company. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 price objective on shares of Eaton in a research report on Monday, July 14th. BNP Paribas started coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target for the company. Finally, Rothschild Redb raised Eaton to a "hold" rating in a research note on Wednesday, August 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.10.

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.