Allworth Financial LP Reduces Stock Position in Eaton Corporation, PLC $ETN

Allworth Financial LP trimmed its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 27.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,615 shares of the industrial products company’s stock after selling 26,814 shares during the period. Allworth Financial LP’s holdings in Eaton were worth $29,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new stake in Eaton in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC bought a new position in shares of Eaton during the 2nd quarter valued at $27,000. Sfam LLC purchased a new position in shares of Eaton in the 4th quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Eaton in the fourth quarter worth $28,000. Finally, Boreal Capital Management LLC purchased a new stake in Eaton during the first quarter valued at $33,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

NYSE:ETN traded up $11.43 on Tuesday, reaching $422.28. 2,034,999 shares of the company’s stock traded hands, compared to its average volume of 2,575,836. The stock has a 50-day simple moving average of $415.48 and a 200-day simple moving average of $398.40. Eaton Corporation, PLC has a 12 month low of $311.92 and a 12 month high of $478.00. The firm has a market cap of $164.01 billion, a PE ratio of 42.96, a P/E/G ratio of 2.60 and a beta of 1.17. 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 issued its earnings results on Friday, July 31st. The industrial products company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.07. Eaton had a net margin of 12.75% and a return on equity of 24.58%. The firm had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.16 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. Eaton’s revenue for the quarter was up 21.4% on a year-over-year basis. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. Equities research analysts forecast that Eaton Corporation, PLC will post 13.56 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 7th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 7th. Eaton’s dividend payout ratio (DPR) is currently 44.76%.

Insiders Place Their Bets

In other Eaton news, insider Heath Monesmith sold 18,036 shares of Eaton 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 sale, the insider 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gerald Johnson bought 130 shares of the stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $455.90 per share, with a total value of $59,267.00. Following the completion of the transaction, the director directly owned 1,829 shares in the company, valued at approximately $833,841.10. The trade was a 7.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ETN shares. Citigroup raised their target price on Eaton from $471.00 to $485.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Eaton in a report on Monday, August 3rd. Weiss Ratings raised shares of Eaton from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 28th. UBS Group upgraded shares of Eaton from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $515.00 in a research report on Monday. Finally, Morgan Stanley boosted their price objective on shares of Eaton from $500.00 to $520.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Eaton presently has a consensus rating of “Buy” and an average price target of $450.61.

About Eaton

Eaton (NYSE: ETN) is a diversified power management company that designs, manufactures and distributes products and systems to manage electrical, hydraulic and mechanical power. The company’s offerings are used to improve energy efficiency, reliability and safety across a wide range of applications, with core capabilities in electrical distribution and control, industrial hydraulics and aerospace systems.

Its product portfolio includes switchgear, circuit breakers, transformers, power distribution units, uninterruptible power supplies and surge protection devices for electrical infrastructure, along with hydraulic pumps, valves and filtration systems for industrial and mobile equipment.