Tandem Capital Management Corp ADV Sells 317 Shares of Eaton Co. plc (NYSE:ETN)

Tandem Capital Management Corp ADV reduced its stake in Eaton Co. plc (NYSE:ETN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,608 shares of the industrial products company’s stock after selling 317 shares during the period. Eaton accounts for 2.0% of Tandem Capital Management Corp ADV’s holdings, making the stock its 13th biggest holding. Tandem Capital Management Corp ADV’s holdings in Eaton were worth $3,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETN. FMR LLC increased its position in shares of Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after acquiring an additional 5,270,331 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Eaton during the third quarter worth about $340,500,000. Deutsche Bank AG increased its position in shares of Eaton by 97.5% during the third quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after acquiring an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Eaton during the third quarter worth about $67,305,000. Finally, International Assets Investment Management LLC increased its position in shares of Eaton by 21,664.8% during the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after acquiring an additional 314,789 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wolfe Research reissued an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. Evercore ISI boosted their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $286.00 to $371.00 in a report on Friday, April 5th. The Goldman Sachs Group boosted their price target on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, Bank of America boosted their price target on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.60.

Insider Activity at Eaton

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Performance

ETN traded down $1.69 during midday trading on Thursday, reaching $317.10. The company had a trading volume of 2,416,304 shares, compared to its average volume of 1,952,214. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. The stock has a market cap of $126.68 billion, a PE ratio of 39.54, a P/E/G ratio of 2.59 and a beta of 1.07. Eaton Co. plc has a 12-month low of $161.12 and a 12-month high of $331.47. The business has a 50-day moving average price of $303.89 and a two-hundred day moving average price of $257.51.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 13.88% and a return on equity of 20.05%. Eaton’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.06 EPS. On average, sell-side analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s payout ratio is currently 46.88%.

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.