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

Tandem Capital Management Corp ADV lowered its position in Eaton Co. plc (NYSE:ETN) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,608 shares of the industrial products company’s stock after selling 317 shares during the quarter. Eaton makes up about 2.0% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 13th largest position. Tandem Capital Management Corp ADV’s holdings in Eaton were worth $3,277,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton during the 4th quarter valued at about $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton during the 4th quarter valued at about $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of Eaton during the 3rd quarter valued at about $39,000. Finally, Legacy Financial Group LLC bought a new position in shares of Eaton during the 3rd quarter valued at about $43,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $371.00 in a report on Friday, April 5th. Citigroup increased their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Bank of America increased their price target on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. Mizuho increased their price target on shares of Eaton from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, UBS Group increased their price target on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $295.60.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares in the company, valued at $1,593,380.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated 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 completion of the sale, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Eaton Stock Down 0.5 %

Shares of ETN traded down $1.69 during midday trading on Thursday, reaching $317.10. The stock 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 current ratio of 1.51 and a quick ratio of 1.02. The company’s fifty day simple moving average is $303.89 and its two-hundred day simple moving average is $257.51. The company has a market cap of $126.68 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 2.59 and a beta of 1.07. Eaton Co. plc has a 1-year low of $161.12 and a 1-year high of $331.47.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the firm posted $2.06 EPS. Eaton’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is 46.88%.

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.