Vinland Capital Management Gestora de Recursos LTDA. Makes New Investment in Eaton Co. plc (NYSE:ETN)

Vinland Capital Management Gestora de Recursos LTDA. purchased a new position in Eaton Co. plc (NYSE:ETN) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,550 shares of the industrial products company’s stock, valued at approximately $845,000. Eaton accounts for approximately 2.0% of Vinland Capital Management Gestora de Recursos LTDA.’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Catalyst Financial Partners LLC lifted its position in Eaton by 0.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 4,158 shares of the industrial products company’s stock valued at $1,378,000 after acquiring an additional 36 shares in the last quarter. Goldstone Financial Group LLC purchased a new stake in shares of Eaton in the 3rd quarter worth $341,000. Cornerstone Wealth Group LLC increased its stake in shares of Eaton by 3.1% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 15,495 shares of the industrial products company’s stock worth $5,136,000 after purchasing an additional 465 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Eaton by 75.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,910 shares of the industrial products company’s stock worth $965,000 after buying an additional 1,252 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its stake in Eaton by 121.3% in the 3rd quarter. SteelPeak Wealth LLC now owns 3,714 shares of the industrial products company’s stock worth $1,231,000 after buying an additional 2,036 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Eaton

In other news, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the sale, the insider now owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares in the company, valued at $2,858,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the completion of the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.33% of the company’s stock.

Eaton Trading Down 3.8 %

NYSE:ETN opened at $329.75 on Thursday. Eaton Co. plc has a 12 month low of $198.68 and a 12 month high of $349.74. The firm has a fifty day simple moving average of $321.71 and a 200-day simple moving average of $318.06. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $131.27 billion, a P/E ratio of 37.71, a PEG ratio of 2.62 and a beta of 1.02.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.61 by $0.12. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. On average, equities research analysts anticipate that Eaton Co. plc will post 10.75 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a $0.94 dividend. The ex-dividend date is Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s payout ratio is 41.36%.

Analysts Set New Price Targets

Several research analysts have commented on ETN shares. Wells Fargo & Company increased their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Barclays raised their price objective on shares of Eaton from $319.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. 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 target price on the stock. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Citigroup began coverage on shares of Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $340.06.

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.