Andina Capital Management LLC Has $350,000 Position in Eaton Corporation, PLC $ETN

by · The Cerbat Gem

Andina Capital Management LLC reduced its stake in Eaton Corporation, PLC (NYSE:ETN – Free Report) by 36.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,286 shares of the industrial products company’s stock after selling 734 shares during the period. Andina Capital Management LLC’s holdings in Eaton were worth $350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Eaton by 0.8% in the first quarter. Vanguard Group Inc. now owns 37,507,725 shares of the industrial products company’s stock valued at $10,195,725,000 after acquiring an additional 289,819 shares in the last quarter. Nuveen LLC acquired a new position in shares of Eaton in the first quarter valued at about $1,472,231,000. Nuveen Asset Management LLC grew its stake in shares of Eaton by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company’s stock valued at $1,550,226,000 after acquiring an additional 192,482 shares in the last quarter. Northern Trust Corp grew its stake in shares of Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company’s stock valued at $1,518,207,000 after acquiring an additional 368,241 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Eaton by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,985,735 shares of the industrial products company’s stock valued at $1,083,442,000 after acquiring an additional 427,509 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ETN shares. KeyCorp upped their price objective on shares of Eaton from $355.00 to $410.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. The Goldman Sachs Group upped their price objective on shares of Eaton from $345.00 to $382.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. BNP Paribas started coverage on shares of Eaton in a research report on Thursday, May 15th. They set an “outperform” rating and a $380.00 price objective for the company. Morgan Stanley upped their price objective on shares of Eaton from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Citigroup upped their price objective on shares of Eaton from $420.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $383.63.

Get Our Latest Analysis on Eaton

Eaton Stock Up 0.7%

Shares of NYSE ETN opened at $353.63 on Tuesday. The company has a 50 day simple moving average of $358.67 and a 200 day simple moving average of $318.89. The firm has a market cap of $137.67 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.59 and a beta of 1.18. Eaton Corporation, PLC has a 1 year low of $231.85 and a 1 year high of $399.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 0.76.

Eaton (NYSE:ETN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.03. The business had revenue of $7.03 billion during the quarter, compared to analyst estimates of $6.93 billion. Eaton had a net margin of 15.11% and a return on equity of 23.91%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.73 EPS. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 7th. Eaton’s dividend payout ratio is currently 41.85%.

Insiders Place Their Bets

In other Eaton news, insider Olivier Leonetti sold 16,018 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $358.39, for a total transaction of $5,740,691.02. Following the completion of the sale, the insider owned 630 shares of the company’s stock, valued at approximately $225,785.70. This represents a 96.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

About Eaton

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ETN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Corporation, PLC (NYSE:ETN – Free Report).