Eaton Corporation, PLC $ETN Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in Eaton Corporation, PLC (NYSE:ETN) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Other institutional investors have also added to or reduced their stakes in the company. Security National Bank of SO Dak bought a new position in Eaton during the second quarter valued at about $26,000. Manning & Napier Advisors LLC acquired a new position in Eaton in the 2nd quarter valued at approximately $27,000. North Point Portfolio Managers Corp OH acquired a new position in Eaton in the 3rd quarter valued at approximately $34,000. Archer Investment Corp bought a new stake in shares of Eaton in the 2nd quarter worth approximately $35,000. Finally, Boreal Capital Management LLC bought a new stake in shares of Eaton in the 1st quarter worth approximately $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ETN has been the topic of several recent research reports. Evercore lifted their price objective on Eaton from $502.00 to $515.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Wells Fargo & Company assumed coverage on Eaton in a research note on Thursday, September 24th. They issued an “overweight” rating and a $503.00 target price for the company. Morgan Stanley upped their target price on Eaton from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. HSBC raised their target price on Eaton from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Argus lifted their price target on shares of Eaton from $475.00 to $528.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and a consensus price target of $484.10.

Insider Transactions at Eaton

In other news, insider Heath Monesmith sold 18,036 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $458.04, for a total value of $8,261,209.44. Following the completion of the transaction, the insider directly owned 50,368 shares of the company’s stock, valued at approximately $23,070,558.72. This represents a 26.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam Wadecki sold 525 shares of the firm’s 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 owned 1,054 shares of the company’s stock, valued at $464,329.16. This trade represents a 33.25% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by insiders.

Eaton Stock Performance

NYSE ETN opened at $391.93 on Tuesday. The stock has a market cap of $152.23 billion, a P/E ratio of 31.66, a PEG ratio of 2.27 and a beta of 1.13. The company’s 50-day simple moving average is $421.96 and its 200 day simple moving average is $410.95. Eaton Corporation, PLC has a twelve month low of $311.92 and a twelve month high of $478.00. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.91.

Eaton (NYSE:ETN) last announced its quarterly 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 firm had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $8.16 billion. Eaton had a net margin of 12.75% and a return on equity of 24.58%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter last year, the company earned $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. As a group, research analysts forecast that Eaton Corporation, PLC will post 13.57 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders 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 dividend yield of 1.1%. Eaton’s dividend payout ratio is presently 44.76%.

About Eaton

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.