Cigna Investments Inc. New Lowers Stake in Eaton Corporation, PLC $ETN

Cigna Investments Inc. New cut its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,859 shares of the industrial products company’s stock after selling 98 shares during the quarter. Cigna Investments Inc. New’s holdings in Eaton were worth $1,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. IMA Advisory Services Inc. acquired a new stake in shares of Eaton in the first quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in shares of Eaton in the fourth quarter worth approximately $26,000. Creative Financial Designs Inc. ADV boosted its position in shares of Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton in the fourth quarter worth approximately $33,000. Finally, Abound Wealth Management boosted its position in shares of Eaton by 73.8% in the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 62 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ETN shares. Wells Fargo & Company raised their target price on shares of Eaton from $310.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Sanford C. Bernstein reissued an “outperform” rating and issued a $396.00 target price on shares of Eaton in a research report on Monday, July 14th. Redburn Atlantic started coverage on shares of Eaton in a research report on Wednesday, August 20th. They set a “hold” rating and a $336.00 price target on the stock. Daiwa Capital Markets started coverage on shares of Eaton in a research report on Thursday, September 11th. They set an “outperform” rating and a $390.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of Eaton from $375.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $390.68.

Eaton Trading Down 2.5%

ETN opened at $368.83 on Wednesday. The firm has a market capitalization of $143.59 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.70 and a beta of 1.16. The firm’s 50 day moving average is $363.91 and its 200-day moving average is $328.67. Eaton Corporation, PLC has a 52-week low of $231.85 and a 52-week high of $399.56. 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 (NYSE:ETN) last posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.03. The company 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%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $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. Analysts expect that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th were paid a dividend of $1.04 per share. 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%.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the business’s stock in a transaction on 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 completion of the sale, the insider owned 630 shares in the company, valued at $225,785.70. The trade was a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by insiders.

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.