Myriad Asset Management US LP Purchases Shares of 5,988 Eaton Co. plc (NYSE:ETN)

Myriad Asset Management US LP acquired a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,988 shares of the industrial products company's stock, valued at approximately $1,987,000. Eaton makes up 1.3% of Myriad Asset Management US LP's portfolio, making the stock its 21st largest holding.

Other institutional investors have also made changes to their positions in the company. Creative Planning increased its position in shares of Eaton by 2.7% during the third quarter. Creative Planning now owns 181,067 shares of the industrial products company's stock valued at $60,013,000 after purchasing an additional 4,705 shares during the period. Vontobel Holding Ltd. boosted its stake in Eaton by 52.6% in the third quarter. Vontobel Holding Ltd. now owns 26,611 shares of the industrial products company's stock worth $8,820,000 after purchasing an additional 9,174 shares in the last quarter. B.O.S.S. Retirement Advisors LLC boosted its stake in Eaton by 18.4% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 1,270 shares of the industrial products company's stock worth $421,000 after purchasing an additional 197 shares in the last quarter. Good Life Advisors LLC boosted its stake in Eaton by 46.0% in the third quarter. Good Life Advisors LLC now owns 2,839 shares of the industrial products company's stock worth $941,000 after purchasing an additional 895 shares in the last quarter. Finally, Buffington Mohr McNeal boosted its stake in Eaton by 6.2% in the third quarter. Buffington Mohr McNeal now owns 3,402 shares of the industrial products company's stock worth $1,128,000 after purchasing an additional 200 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ETN. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Bank of America upped their price objective on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Mizuho upped their price objective on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Melius downgraded Eaton from a "buy" rating to a "hold" rating and set a $373.00 price objective for the company. in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein initiated coverage on Eaton in a report on Tuesday, November 5th. They issued an "outperform" rating and a $382.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $366.05.

Eaton Trading Down 1.2 %

Shares of ETN stock traded down $3.81 during mid-day trading on Wednesday, hitting $309.31. The company's stock had a trading volume of 2,712,199 shares, compared to its average volume of 3,371,380. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The company has a market cap of $122.24 billion, a PE ratio of 32.56, a P/E/G ratio of 2.64 and a beta of 1.05. The company's fifty day simple moving average is $335.20 and its 200-day simple moving average is $332.20. 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 - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates 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 firm posted $2.55 EPS. As a group, equities research analysts expect that Eaton Co. plc will post 12.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

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.