Tcfg Wealth Management LLC Buys 700 Shares of Eaton Co. plc (NYSE:ETN)

Tcfg Wealth Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 52.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,031 shares of the industrial products company’s stock after purchasing an additional 700 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Eaton were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC bought a new position in Eaton in the fourth quarter valued at approximately $38,000. Allworth Financial LP grew its stake in Eaton by 6.4% in the fourth quarter. Allworth Financial LP now owns 62,093 shares of the industrial products company’s stock valued at $20,607,000 after purchasing an additional 3,717 shares in the last quarter. Principal Securities Inc. grew its stake in Eaton by 12.7% in the fourth quarter. Principal Securities Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,281,000 after purchasing an additional 777 shares in the last quarter. TigerOak Management L.L.C. bought a new position in shares of Eaton during the 4th quarter worth approximately $432,000. Finally, Congress Asset Management Co. boosted its stake in shares of Eaton by 0.6% during the 4th quarter. Congress Asset Management Co. now owns 524,422 shares of the industrial products company’s stock worth $174,040,000 after acquiring an additional 3,022 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ETN. Citigroup reduced their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their target price on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

Insider Transactions at Eaton

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Eaton Price Performance

Shares of NYSE ETN opened at $309.21 on Friday. The stock has a market capitalization of $122.20 billion, a PE ratio of 32.55, a P/E/G ratio of 2.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The business has a fifty day moving average price of $337.21 and a two-hundred day moving average price of $331.39. Eaton Co. plc has a fifty-two week low of $255.65 and a fifty-two week high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the company posted $2.55 earnings per share. As a group, equities analysts predict that Eaton Co. plc will post 12.04 earnings per share for the current fiscal year.

About Eaton

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.