Eaton Corporation, PLC $ETN Stock Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its position in Eaton Corporation, PLC (NYSE:ETN) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,391 shares of the industrial products company’s stock after buying an additional 1,340 shares during the period. Salem Investment Counselors Inc.’s holdings in Eaton were worth $15,208,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Eaton by 19.6% during the 2nd quarter. Wellington Management Group LLP now owns 6,827,266 shares of the industrial products company’s stock valued at $2,909,235,000 after buying an additional 1,120,567 shares in the last quarter. National Pension Service increased its stake in Eaton by 3.5% in the 2nd quarter. National Pension Service now owns 864,731 shares of the industrial products company’s stock worth $368,479,000 after acquiring an additional 29,436 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Eaton by 112.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 336,060 shares of the industrial products company’s stock worth $120,199,000 after acquiring an additional 178,000 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Eaton by 12.1% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 266,845 shares of the industrial products company’s stock worth $95,442,000 after acquiring an additional 28,815 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Eaton by 6.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 188,970 shares of the industrial products company’s stock valued at $77,973,000 after acquiring an additional 11,804 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ETN shares. Robert W. Baird set a $500.00 target price on shares of Eaton and gave the company an “outperform” rating in a report on Thursday, August 20th. Citigroup upped their price target on shares of Eaton from $485.00 to $498.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley upped their price target on shares of Eaton from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Raymond James Financial increased their price objective on shares of Eaton from $465.00 to $525.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Argus lifted their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $480.77.

Insider Buying and Selling

In related news, insider Adam Wadecki sold 525 shares of the firm’s stock in a transaction 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 completion of the sale, the insider directly owned 1,054 shares in the company, valued at $464,329.16. This trade represents a 33.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Johnson acquired 130 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $455.90 per share, with a total value of $59,267.00. Following the completion of the purchase, the director directly owned 1,829 shares of the company’s stock, valued at $833,841.10. This trade represents a 7.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.10% of the stock is owned by corporate insiders.

Eaton Trading Up 0.5%

Shares of ETN stock opened at $428.66 on Wednesday. Eaton Corporation, PLC has a 1 year low of $311.92 and a 1 year high of $478.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $425.90 and its two-hundred day simple moving average is $409.70. The company has a market cap of $166.49 billion, a PE ratio of 43.61, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, July 31st. The industrial products company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.07. The business had revenue of $8.53 billion during the quarter, compared to analyst estimates of $8.16 billion. Eaton had a return on equity of 24.58% and a net margin of 12.75%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the company earned $2.95 EPS. Eaton has set its Q3 2026 guidance at 3.460-3.560 EPS and its FY 2026 guidance at 13.400-13.600 EPS. Research analysts predict that Eaton Corporation, PLC will post 13.57 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors 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 is presently 44.76%.

Eaton Profile

Eaton Corporation plc (NYSE: ETN) is a global power management company that helps customers manage electrical, hydraulic and mechanical power more safely, efficiently and reliably. Its products and systems serve commercial, industrial, utility, data center, residential, aerospace, vehicle and mobility applications.

The company’s electrical businesses provide circuit protection and control equipment, power distribution systems, connectivity solutions, backup power and other technologies used to support critical infrastructure and improve energy efficiency.