Tandem Capital Management Corp ADV Purchases 308 Shares of Eaton Corporation, PLC (NYSE:ETN)

Tandem Capital Management Corp ADV grew its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,772 shares of the industrial products company’s stock after purchasing an additional 308 shares during the quarter. Eaton comprises approximately 2.1% 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 $3,744,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Eaton during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC bought a new position in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC bought a new position in Eaton during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp bought a new position in Eaton during the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in Eaton during the 4th quarter worth approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ETN. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Jefferies Financial Group lowered their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $355.00 price objective on shares of Eaton in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Eaton from a “hold” rating to a “buy” rating in a research note on Sunday, May 18th. Finally, Royal Bank Of Canada lifted their price objective on shares of Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.78.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company’s stock, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is currently owned by insiders.

Eaton Stock Performance

NYSE ETN opened at $331.34 on Friday. The company has a fifty day simple moving average of $310.79 and a 200 day simple moving average of $313.22. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company has a market cap of $129.65 billion, a P/E ratio of 33.43, a PEG ratio of 2.57 and a beta of 1.16.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. Sell-side analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s dividend payout ratio is 41.98%.

Eaton 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.