TCG Advisory Services LLC Acquires 698 Shares of Eaton Co. plc (NYSE:ETN)

TCG Advisory Services LLC increased its position in Eaton Co. plc (NYSE:ETN) by 66.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,749 shares of the industrial products company’s stock after acquiring an additional 698 shares during the quarter. TCG Advisory Services LLC’s holdings in Eaton were worth $421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eaton in the 4th quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new position in shares of Eaton during the 4th quarter worth $35,000. Chilton Capital Management LLC bought a new stake in Eaton during the fourth quarter valued at about $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Eaton in the third quarter worth $39,000. Finally, Fortitude Family Office LLC purchased a new stake in Eaton in the 4th quarter worth $46,000. 82.97% of the stock is currently owned by institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares in the company, valued at $8,116,427.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the transaction, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,969 shares of company stock valued at $10,904,774. 0.53% of the stock is owned by insiders.

Eaton Stock Performance

ETN stock traded up $6.15 during mid-day trading on Friday, hitting $320.50. 1,769,790 shares of the company were exchanged, compared to its average volume of 2,741,837. The business has a 50 day simple moving average of $308.68 and a 200-day simple moving average of $262.71. The stock has a market capitalization of $128.14 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 1-year low of $165.24 and a 1-year high of $333.05.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

Analyst Upgrades and Downgrades

ETN has been the topic of several analyst reports. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. Wolfe Research restated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research note on Monday, April 8th. Argus lifted their price target on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI lifted their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.