C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Raises Stake in Eaton Co. plc (NYSE:ETN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 11.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,543 shares of the industrial products company’s stock after purchasing an additional 252 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Eaton were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ETN. Groupama Asset Managment lifted its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised 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 buying an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of Eaton in the 3rd quarter valued at about $33,000. Activest Wealth Management boosted its stake in shares of Eaton by 621.4% in the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after buying an additional 87 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new stake in Eaton during the third quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN opened at $309.31 on Thursday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a market cap of $122.24 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $334.15 and its 200-day moving average price is $332.04.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share 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 quarter in the previous year, the company posted $2.55 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 12.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ETN shares. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group initiated coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Finally, Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $366.05.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total value of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% 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.