Eaton Co. plc (NYSE:ETN) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,626 shares of the industrial products company’s stock after selling 437 shares during the quarter. Eaton accounts for about 2.3% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 10th largest position. Tandem Capital Management Corp ADV’s holdings in Eaton were worth $4,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ballentine Partners LLC raised its stake in shares of Eaton by 91.8% in the third quarter. Ballentine Partners LLC now owns 8,466 shares of the industrial products company’s stock valued at $2,806,000 after acquiring an additional 4,051 shares during the last quarter. Busey Bank grew its holdings in shares of Eaton by 0.6% during the third quarter. Busey Bank now owns 11,767 shares of the industrial products company’s stock worth $3,900,000 after purchasing an additional 70 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in shares of Eaton by 30.8% in the third quarter. Silver Oak Securities Incorporated now owns 1,360 shares of the industrial products company’s stock valued at $451,000 after buying an additional 320 shares in the last quarter. West Michigan Advisors LLC lifted its position in Eaton by 0.5% during the 3rd quarter. West Michigan Advisors LLC now owns 12,219 shares of the industrial products company’s stock worth $4,050,000 after buying an additional 66 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its holdings in Eaton by 63.4% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 2,953 shares of the industrial products company’s stock worth $979,000 after acquiring an additional 1,146 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ETN shares. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Jefferies Financial Group boosted their price objective on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.06.

Eaton Stock Up 0.5 %

Shares of NYSE ETN traded up $1.67 during mid-day trading on Friday, hitting $346.96. The company had a trading volume of 17,266 shares, compared to its average volume of 2,091,778. The firm has a 50-day simple moving average of $317.08 and a two-hundred day simple moving average of $317.12. Eaton Co. plc has a one year low of $193.77 and a one year high of $349.74. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $138.71 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. On average, equities analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.08%. Eaton’s payout ratio is 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the sale, the insider now owns 9,900 shares in the company, valued at $2,858,328. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

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.