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NYSE · Technology

Eaton ETN

Eaton is a global leader in intelligent power management. Its business covers electrical, aerospace and vehicle divisions to be spun off. It provides power distribution, backup power and advanced cooling solutions for data centers, industry, utilities and other markets. Recently, it has strengthened its layout in the high-growth data center market through large-scale acquisitions. Orders and backlog have reached records. At the same time, it plans to spin off the vehicle business to focus on the core. Investment analysis focuses on the sustainability of organic growth and improvement of profit margins.

Sources Company earnings and call materials quartr.com
Industrial Machinery/Components

Company profile

Business mix

  • It operates through four major divisions: Electrical Americas, Electrical Global, Aerospace and Mobility (planned to be spun off in early 2027).
  • Core products include power distribution equipment, uninterruptible power supplies, cooling systems and aerospace components, deeply benefiting from data center, electrification and power grid upgrade trends.
  • Electrical America is the mainstay of profits, with profit margins of 25.6% in the first quarter and aerospace profit margins of 26.7%. However, the profitability of the vehicle business is weak, and the overall return is expected to increase after the spin-off.

Current key questions

  • Data center orders surged 240% year-on-year, pushing organic growth to more than 10%. However, inflation and high financing costs have put net profits under short-term pressure, and it is necessary to weigh growth and thinning profits.
  • The company has recently acquired Boyd Thermal and others to enhance its capabilities in high-growth markets such as liquid cooling, but integration risks and capital expenditure expansion need to be continuously tracked.
Holders 2 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 38.73 FCF 2.46% Buyback 1.82%
2026-06-07

Current firm holders

Firm Weight Value Filing period
Coatue Management Philippe Laffont 5.8% $1.7B 2026-03-31
Baillie Gifford legacy James Anderson 0.2% $220.8M 2026-03-31

Recent trading changes over the last 2 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 1 Last 2 13F filing periods
Net reducers 2 Last 2 13F filing periods
Unchanged holders 0 Share count unchanged
Increase amount $2.0M Estimated from net added shares
Reduction amount $45.4M Estimated from net reduced shares
Net share change / base shares -2.2% -121,503 / 5,545,889
Coatue Management Philippe Laffont 2 filing periods
13F 2025-12-31 Filed 2026-02-17
Minor reduction Shares -1.5% 13F value change -$290.7M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 0.6% 13F value change +$194.6M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 4,794,777 Last 2 periods -46,279 (-1.0%) Total shares 4,748,498 Value $1.7B
Baillie Gifford legacy James Anderson 2 filing periods
13F 2025-12-31 Filed 2026-01-23
Minor reduction Shares -3.4% 13F value change -$46.6M
13F 2026-03-31 Filed 2026-05-08
Minor reduction Shares -8.4% 13F value change +$6.2M
Settlement As of 13F 2026-03-31 · Filed 2026-05-08
Base shares 697,894 Last 2 periods -80,528 (-11.5%) Total shares 617,366 Value $220.8M
Gotham Asset Management Joel Greenblatt 2 filing periods
13F 2025-06-30 Filed 2025-08-14
Minor increase Shares 1.0% 13F value change +$4.7M
13F 2025-09-30 Filed 2025-11-14
Minor increase Shares 8.8% 13F value change +$2.7M
Settlement As of 13F 2025-09-30 · Filed 2025-11-14
Base shares 53,218 Last 2 periods +5,304 (+10.0%) Total shares 58,522 Value $21.9M

Recent mentions

No public mentions.