Tandem Capital Management Corp ADV Sells 589 Shares of Eaton Co. plc (NYSE:ETN)

Tandem Capital Management Corp ADV reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,474 shares of the industrial products company’s stock after selling 589 shares during the period. Eaton accounts for approximately 2.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 11th biggest position. Tandem Capital Management Corp ADV’s holdings in Eaton were worth $4,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ETN. Breakwater Investment Management boosted its holdings in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at $29,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton in the 2nd quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Eaton in the 2nd quarter valued at $37,000. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ETN shares. Jefferies Financial Group increased their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Barclays increased their target price on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Citigroup started coverage on shares of Eaton in a research report on Monday, September 16th. They set a “buy” rating and a $348.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.06.

Insider Activity

In related news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now directly owns 71,262 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the sale, 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 SEC, which can be accessed through this link. Also, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,858,328. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,511 shares of company stock worth $15,809,326 over the last ninety days. Insiders own 0.33% of the company’s stock.

Eaton Stock Down 0.8 %

Shares of NYSE ETN opened at $342.81 on Thursday. The firm’s 50-day moving average is $321.71 and its 200-day moving average is $318.06. Eaton Co. plc has a 1 year low of $198.68 and a 1 year high of $349.74. The firm has a market capitalization of $136.47 billion, a PE ratio of 37.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44.

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

Eaton Dividend Announcement

The firm also recently disclosed 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 1.10%. Eaton’s dividend payout ratio (DPR) is presently 41.36%.

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.