C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases 252 Shares of Eaton Co. plc (NYSE:ETN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of Eaton Co. plc (NYSE:ETN) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,543 shares of the industrial products company’s stock after acquiring 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 SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Eaton in the third quarter worth $33,000. Activest Wealth Management boosted its position in shares of Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the last quarter. DT Investment Partners LLC purchased a new position in Eaton during the third quarter valued at $37,000. Finally, Hager Investment Management Services LLC bought a new stake in Eaton in the 4th quarter valued at $38,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Down 1.2 %

Shares of NYSE ETN opened at $309.31 on Thursday. The stock has a 50 day moving average price of $334.15 and a 200 day moving average price of $332.04. The firm has a market capitalization of $122.24 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.64 and a beta of 1.05. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN) last announced its 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm earned $2.55 earnings per share. Sell-side analysts expect that Eaton Co. plc will post 12.03 earnings per share for the current year.

Insider Buying and Selling at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, 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. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ETN shares. Royal Bank of Canada cut their price objective on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Citigroup reduced their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a research report on Tuesday, January 28th. Barclays boosted their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Melius Research reiterated a “hold” rating and set a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.05.

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.