TOWER TRUST & INVESTMENT Co Sells 72 Shares of Eaton Corporation, PLC $ETN

TOWER TRUST & INVESTMENT Co decreased its stake in Eaton Corporation, PLC (NYSE:ETN) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,558 shares of the industrial products company’s stock after selling 72 shares during the quarter. TOWER TRUST & INVESTMENT Co’s holdings in Eaton were worth $913,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Nuveen LLC bought a new position in shares of Eaton during the first quarter worth approximately $1,472,231,000. GAMMA Investing LLC grew its stake in shares of Eaton by 27,281.9% during the first quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company’s stock worth $976,772,000 after buying an additional 3,580,198 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Eaton by 85.4% during the first quarter. Ameriprise Financial Inc. now owns 3,629,464 shares of the industrial products company’s stock worth $986,966,000 after buying an additional 1,672,175 shares during the last quarter. Fayez Sarofim & Co grew its stake in shares of Eaton by 606.3% during the first quarter. Fayez Sarofim & Co now owns 1,025,903 shares of the industrial products company’s stock worth $282,262,000 after buying an additional 880,656 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Eaton by 15.8% during the first quarter. Invesco Ltd. now owns 3,913,209 shares of the industrial products company’s stock worth $1,063,727,000 after buying an additional 533,774 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other news, insider Olivier Leonetti sold 16,018 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $225,785.70. This represents a 96.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ETN has been the topic of a number of research reports. Barclays boosted their target price on shares of Eaton from $340.00 to $344.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Daiwa Capital Markets initiated coverage on shares of Eaton in a report on Thursday, September 11th. They set an “outperform” rating and a $390.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Eaton from $310.00 to $360.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 1st. Morgan Stanley lifted their price target on shares of Eaton from $375.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Finally, Rothschild & Co Redburn initiated coverage on shares of Eaton in a report on Wednesday, August 20th. They set a “neutral” rating and a $336.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Eaton currently has an average rating of “Moderate Buy” and an average target price of $390.68.

Eaton Price Performance

ETN stock opened at $365.63 on Friday. The firm has a market cap of $142.34 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 2.61 and a beta of 1.16. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $399.56. The company’s fifty day simple moving average is $363.52 and its 200 day simple moving average is $330.14.

Eaton (NYSE:ETN) last released 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. The business had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. Eaton’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.73 earnings per share. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were issued a $1.04 dividend. The ex-dividend date was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.1%. Eaton’s payout ratio is presently 41.85%.

Eaton Company 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.