Renasant Bank Sells 2,595 Shares of Eaton Corporation, PLC $ETN

Renasant Bank lowered its stake in Eaton Corporation, PLC (NYSE:ETN) by 70.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,101 shares of the industrial products company’s stock after selling 2,595 shares during the period. Renasant Bank’s holdings in Eaton were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETN. Vanguard Group Inc. boosted its stake in Eaton by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company’s stock worth $10,195,725,000 after purchasing an additional 289,819 shares during the period. Nuveen LLC bought a new stake in shares of Eaton in the first quarter valued at about $1,472,231,000. Goldman Sachs Group Inc. boosted its position in shares of Eaton by 12.0% during the first quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company’s stock worth $1,083,442,000 after buying an additional 427,509 shares during the period. Invesco Ltd. grew its holdings 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 in the last quarter. Finally, Alliancebernstein L.P. raised its position in Eaton by 12.2% in the 1st quarter. Alliancebernstein L.P. now owns 3,659,851 shares of the industrial products company’s stock valued at $994,857,000 after buying an additional 397,114 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

ETN opened at $367.50 on Wednesday. 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 business has a 50 day moving average of $371.49 and a 200-day moving average of $353.33. The stock has a market cap of $142.74 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.77 and a beta of 1.19.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $0.01. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.09 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%. Eaton has set its Q4 2025 guidance at 3.230-3.430 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, equities research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Thursday, November 6th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Eaton’s dividend payout ratio is currently 41.60%.

Insider Transactions at Eaton

In other news, Director Gerald Johnson bought 100 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were bought at an average price of $384.33 per share, with a total value of $38,433.00. Following the completion of the transaction, the director owned 200 shares of the company’s stock, valued at $76,866. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Daiwa Capital Markets assumed coverage on Eaton in a research note on Thursday, September 11th. They issued an “outperform” rating and a $390.00 target price on the stock. Wall Street Zen lowered shares of Eaton from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Morgan Stanley increased their target price on shares of Eaton from $375.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. Wells Fargo & Company lifted their price target on shares of Eaton from $375.00 to $395.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Rothschild & Co Redburn initiated coverage on shares of Eaton in a research note on Wednesday, August 20th. They set a “neutral” rating and a $336.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $403.23.

About Eaton

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.