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

TCG Advisory Services LLC lifted its stake in shares of Eaton Co. plc (NYSE:ETN) by 66.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,749 shares of the industrial products company’s stock after purchasing an additional 698 shares during the period. TCG Advisory Services LLC’s holdings in Eaton were worth $421,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. FMR LLC boosted its stake in Eaton by 36.0% in the 3rd quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Eaton during the third quarter worth about $340,500,000. Deutsche Bank AG raised its stake in Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock worth $396,767,000 after purchasing an additional 918,422 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Eaton in the third quarter valued at approximately $67,305,000. Finally, International Assets Investment Management LLC grew its position in Eaton by 21,664.8% during the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after buying an additional 314,789 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 2.0 %

ETN stock traded up $6.15 on Friday, reaching $320.50. The company’s stock had a trading volume of 1,769,790 shares, compared to its average volume of 2,741,837. The business has a fifty day simple moving average of $308.68 and a two-hundred day simple moving average of $262.71. Eaton Co. plc has a 12-month low of $165.24 and a 12-month high of $333.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The firm has a market cap of $128.14 billion, a PE ratio of 37.84, a PEG ratio of 2.54 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts forecast that Eaton Co. plc will post 10.45 EPS for the current year.

Eaton Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETN shares. Citigroup increased their price objective on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Bank of America upped their target price on Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Berenberg Bank upped their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, HSBC boosted their target price on Eaton from $240.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was 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 owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,969 shares of company stock valued at $10,904,774. 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.