Verdence Capital Advisors LLC Acquires 48 Shares of Eaton Co. plc (NYSE:ETN)

Verdence Capital Advisors LLC lifted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,103 shares of the industrial products company’s stock after buying an additional 48 shares during the period. Verdence Capital Advisors LLC’s holdings in Eaton were worth $697,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ETN. Strategic Wealth Partners Ltd. grew its stake in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD grew its stake in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after buying an additional 32 shares during the last quarter. Well Done LLC lifted its stake in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares during the last quarter. Finally, Austin Private Wealth LLC grew its position in shares of Eaton by 3.7% in the 3rd quarter. Austin Private Wealth LLC now owns 929 shares of the industrial products company’s stock valued at $308,000 after acquiring an additional 33 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. 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 Michael Yelton sold 3,136 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,745 shares of company stock worth $39,278,367. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Up 1.7 %

Shares of ETN stock opened at $366.67 on Monday. The stock has a market cap of $144.91 billion, a P/E ratio of 39.01, a price-to-earnings-growth ratio of 2.88 and a beta of 1.01. Eaton Co. plc has a 1 year low of $217.61 and a 1 year high of $369.29. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $328.30 and a 200 day simple moving average of $319.79.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 EPS. On average, research analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ETN. Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Wells Fargo & Company increased their price target on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Evercore ISI reduced their price objective on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Citigroup began coverage on shares of Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fourteen have assigned 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 $343.28.

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.