Waverly Advisors LLC Buys 11,536 Shares of Eaton Corporation, PLC $ETN

Key Points

• Waverly Advisors increased its Eaton position by 30.2% in the second quarter, adding 11,536 shares for a total holding of 49,690 shares valued at approximately $21.2 million. Institutional investors collectively own 82.97% of Eaton’s stock.
• Analyst sentiment remains positive, with Eaton carrying a consensus “Buy” rating and an average price target of $450.61. Several firms recently upgraded the stock or raised their targets, including UBS, Evercore and Citigroup.
• Eaton exceeded quarterly earnings and revenue expectations, reporting $3.15 in EPS and $8.53 billion in revenue, while revenue rose 21.4% year over year. The company also announced a quarterly dividend of $1.10 per share, representing a 1.0% annualized yield.

Waverly Advisors LLC increased its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 30.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,690 shares of the industrial products company's stock after purchasing an additional 11,536 shares during the period. Waverly Advisors LLC's holdings in Eaton were worth $21,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in shares of Eaton during the fourth quarter valued at $26,000. Manning & Napier Advisors LLC purchased a new position in shares of Eaton in the second quarter worth approximately $27,000. Sfam LLC bought a new stake in shares of Eaton during the 4th quarter valued at $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Eaton during the fourth quarter valued at about $28,000. Finally, Boreal Capital Management LLC purchased a new stake in Eaton in the 1st quarter worth approximately $33,000. Institutional investors own 82.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ETN shares. Weiss Ratings upgraded Eaton from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 28th. Citigroup raised their price objective on Eaton from $471.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Evercore upgraded shares of Eaton from an "in-line" rating to an "outperform" rating and set a $502.00 price target on the stock in a research report on Monday, August 3rd. Robert W. Baird set a $500.00 price objective on Eaton and gave the stock an "outperform" rating in a research note on Thursday, August 20th. Finally, UBS Group raised shares of Eaton from a "neutral" rating to a "buy" rating and increased their target price for the company from $450.00 to $515.00 in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of "Buy" and a consensus price target of $450.61.

Eaton Price Performance

Eaton stock opened at $422.28 on Wednesday. The stock has a market cap of $164.01 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 2.60 and a beta of 1.17. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 0.79. Eaton Corporation, PLC has a 1 year low of $311.92 and a 1 year high of $478.00. The firm has a 50-day moving average of $415.39 and a two-hundred day moving average of $398.69.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, July 31st. The industrial products company reported $3.15 EPS for the quarter, topping analysts' consensus estimates of $3.08 by $0.07. The business had revenue of $8.53 billion for the quarter, compared to analyst estimates of $8.16 billion. Eaton had a net margin of 12.75% and a return on equity of 24.58%. The company's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company 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, research analysts forecast that Eaton Corporation, PLC will post 13.56 earnings per share for the current year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were given a dividend of $1.10 per share. 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 1.0%. Eaton's dividend payout ratio (DPR) is 44.76%.

Insider Buying and Selling

In other Eaton news, insider Adam A. Wadecki sold 525 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $440.54, for a total transaction of $231,283.50. Following the completion of the sale, the insider directly owned 1,054 shares of the company's stock, valued at approximately $464,329.16. This represents a 33.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 18,036 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $458.04, for a total transaction of $8,261,209.44. Following the sale, the insider directly owned 50,368 shares of the company's stock, valued at $23,070,558.72. The trade was a 26.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by insiders.

About Eaton

Eaton plc is a power management company that helps businesses, utilities, data centers, industrial facilities and other customers manage electrical, hydraulic and mechanical power more safely and efficiently. Its products and systems support power distribution, circuit protection, power quality, backup power, industrial automation and energy management.

The company also supplies aerospace systems, including hydraulic, fuel, motion-control and air-management equipment, as well as components and systems for commercial and military aircraft.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.