Prasad Wealth Partners LLC Purchases New Position in Eaton Co. plc (NYSE:ETN)

Prasad Wealth Partners LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,949 shares of the industrial products company’s stock, valued at approximately $979,000.

A number of other large investors have also added to or reduced their stakes in ETN. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Eaton by 38.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,150 shares of the industrial products company’s stock worth $13,187,000 after acquiring an additional 11,098 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Eaton by 247.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,802 shares of the industrial products company’s stock valued at $1,260,000 after buying an additional 2,708 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Eaton by 1.9% during the 3rd quarter. Boston Trust Walden Corp now owns 2,684 shares of the industrial products company’s stock valued at $890,000 after buying an additional 50 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Eaton by 12.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 694 shares of the industrial products company’s stock valued at $230,000 after buying an additional 75 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its stake in shares of Eaton by 38.1% during the 3rd quarter. Modera Wealth Management LLC now owns 3,362 shares of the industrial products company’s stock valued at $1,114,000 after buying an additional 928 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Eaton stock opened at $289.68 on Tuesday. The firm has a 50-day moving average of $330.66 and a two-hundred day moving average of $332.83. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The stock has a market cap of $114.48 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.64 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.

Eaton (NYSE:ETN) last announced its quarterly 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 net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the firm posted $2.55 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Insider Activity at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction that occurred on 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 represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Sanford C. Bernstein assumed coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating on shares of Eaton in a research note on Thursday, February 13th. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI reduced their price target on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton 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.