Andesa Financial Management Inc. Raises Stake in Eaton Co. PLC (ETN)

Andesa Financial Management Inc. grew its position in shares of Eaton Co. PLC (NYSE:ETN) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,805 shares of the industrial products company’s stock after purchasing an additional 1,055 shares during the quarter. Eaton accounts for 3.0% of Andesa Financial Management Inc.’s portfolio, making the stock its 9th largest position. Andesa Financial Management Inc.’s holdings in Eaton were worth $1,980,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pegasus Asset Management Inc. grew its holdings in shares of Eaton by 2.3% in the 2nd quarter. Pegasus Asset Management Inc. now owns 28,030 shares of the industrial products company’s stock worth $2,095,000 after acquiring an additional 643 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Eaton by 5.4% in the 2nd quarter. Bessemer Group Inc. now owns 12,819 shares of the industrial products company’s stock worth $958,000 after acquiring an additional 651 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Eaton by 2.5% in the 2nd quarter. World Asset Management Inc now owns 27,989 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 672 shares during the last quarter. Capital City Trust Co. FL grew its holdings in shares of Eaton by 4.0% in the 2nd quarter. Capital City Trust Co. FL now owns 17,914 shares of the industrial products company’s stock worth $1,339,000 after acquiring an additional 693 shares during the last quarter. Finally, Reilly Financial Advisors LLC grew its holdings in shares of Eaton by 145.3% in the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 77.79% of the company’s stock.

A number of brokerages recently issued reports on ETN. Citigroup decreased their target price on Eaton from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Friday. Barclays restated an “underweight” rating and issued a $75.00 target price (down from $77.00) on shares of Eaton in a report on Thursday. Credit Suisse Group decreased their target price on Eaton from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group set a $97.00 target price on Eaton and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley decreased their target price on Eaton from $94.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Eaton presently has an average rating of “Buy” and an average target price of $86.12.

In related news, insider Richard H. Fearon sold 25,000 shares of Eaton stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total transaction of $2,082,250.00. Following the completion of the sale, the insider now owns 221,459 shares of the company’s stock, valued at $18,445,320.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ken D. Semelsberger sold 11,500 shares of Eaton stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $86.57, for a total value of $995,555.00. Following the sale, the insider now directly owns 78,883 shares of the company’s stock, valued at approximately $6,828,901.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,000 shares of company stock valued at $4,617,645. Insiders own 0.50% of the company’s stock.

Shares of Eaton stock opened at $73.24 on Friday. The firm has a market capitalization of $31.74 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. Eaton Co. PLC has a 12 month low of $67.70 and a 12 month high of $89.85.

Eaton (NYSE:ETN) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $1.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.43. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Eaton had a return on equity of 13.48% and a net margin of 10.06%. Eaton’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, analysts predict that Eaton Co. PLC will post 5.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, November 1st. This represents a $2.64 dividend on an annualized basis and a yield of 3.60%. Eaton’s payout ratio is 56.77%.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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