TCM Advisors LLC Sells 800 Shares of Eaton Co. plc (NYSE:ETN)

TCM Advisors LLC lessened its stake in shares of Eaton Co. plc (NYSE:ETN) by 20.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,090 shares of the industrial products company’s stock after selling 800 shares during the quarter. TCM Advisors LLC’s holdings in Eaton were worth $1,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new stake in Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the fourth quarter worth $30,000. Horizon Bancorp Inc. IN grew its stake in shares of Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the 4th quarter worth about $33,000. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETN. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research note on Tuesday, January 28th. Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, KeyCorp reduced their price target on shares of Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $355.06.

Eaton Stock Performance

Shares of ETN stock opened at $277.13 on Friday. The stock has a market capitalization of $108.57 billion, a PE ratio of 29.17, a PEG ratio of 2.64 and a beta of 1.09. The business’s 50 day simple moving average is $289.36 and its 200 day simple moving average is $327.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period last year, the company posted $2.55 EPS. As a group, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. This is a positive change from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.50%. Eaton’s dividend payout ratio is presently 43.79%.

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.