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

Verdence Capital Advisors LLC lifted its position in shares of Eaton Co. plc (NYSE:ETN) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,103 shares of the industrial products company’s stock after purchasing an additional 48 shares during the period. Verdence Capital Advisors LLC’s holdings in Eaton were worth $697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its position in Eaton by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares during the period. Capital World Investors increased its holdings in Eaton by 323.8% in the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after purchasing an additional 2,439,270 shares during the period. Janus Henderson Group PLC increased its holdings in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock valued at $412,108,000 after purchasing an additional 176,571 shares during the period. International Assets Investment Management LLC raised its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after purchasing an additional 1,070,024 shares during the last quarter. Finally, National Pension Service grew its position in shares of Eaton by 13.0% in the 3rd quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock valued at $286,967,000 after buying an additional 99,381 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

NYSE ETN opened at $366.67 on Monday. The company has a market cap of $144.91 billion, a P/E ratio of 39.01, a PEG ratio of 2.88 and a beta of 1.01. The company has a fifty day simple moving average of $328.30 and a 200 day simple moving average of $319.79. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $217.61 and a 12-month high of $369.29.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective on the stock. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley began coverage on shares of Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 price target on the stock. Finally, Barclays lowered their price objective on Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $343.28.

Insider Buying and Selling at Eaton

In other news, Director Karenann K. Terrell bought 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at approximately $149,485. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Eaton news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares in the company, valued at $662,161.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karenann K. Terrell purchased 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average cost of $298.97 per share, for a total transaction of $149,485.00. Following the completion of the acquisition, the director now directly owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. In the last three months, insiders have sold 117,745 shares of company stock worth $39,278,367. Corporate insiders own 0.53% of the company’s stock.

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.