Myriad Asset Management US LP Takes $1.99 Million Position in Eaton Co. plc (NYSE:ETN)

Myriad Asset Management US LP acquired a new stake in shares of Eaton Co. plc (NYSE:ETN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,988 shares of the industrial products company’s stock, valued at approximately $1,987,000. Eaton comprises approximately 1.3% of Myriad Asset Management US LP’s portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Horizon Bancorp Inc. IN increased its stake in shares of Eaton by 321.7% during the 4th 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 during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton during the 3rd quarter valued at about $33,000. Activest Wealth Management grew its holdings in shares of Eaton by 621.4% during the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 87 shares during the period. DT Investment Partners LLC purchased a new stake in shares of Eaton during the 3rd quarter worth about $37,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Eaton during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

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

Eaton Trading Up 0.5 %

NYSE:ETN opened at $309.21 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 1-year low of $255.65 and a 1-year high of $379.99. The firm has a market capitalization of $122.20 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05. The stock has a fifty day simple moving average of $338.45 and a 200 day simple moving average of $331.30.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $2.55 earnings per share. Sell-side analysts forecast that Eaton Co. plc will post 12.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ETN shares. Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, UBS Group began coverage on Eaton in a report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target for the company. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average target price of $369.20.

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.