Mirae Asset Global Investments Co. Ltd. Grows Position in Eaton Co. plc (NYSE:ETN)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 34.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 53,963 shares of the industrial products company’s stock after purchasing an additional 13,813 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Eaton were worth $18,013,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ETN. Wetzel Investment Advisors Inc. grew its stake in shares of Eaton by 0.9% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 28 shares during the period. Strategic Wealth Partners Ltd. increased its stake in shares of Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD lifted its stake in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after buying an additional 30 shares in the last quarter. Westmount Partners LLC boosted its holdings in Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after buying an additional 30 shares during the period. Finally, Signal Advisors Wealth LLC raised its holdings in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 30 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the firm’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 transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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 $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ETN. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Mizuho raised 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. Bank of America lifted their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Finally, Citigroup cut their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.20.

Eaton Stock Performance

Shares of NYSE:ETN opened at $315.04 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a market capitalization of $124.50 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 2.27 and a beta of 1.05. The firm’s 50-day moving average is $346.77 and its 200 day moving average is $331.28.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 quarter in the previous year, the business earned $2.55 EPS. Research analysts predict that Eaton Co. plc will post 12 EPS for the current year.

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.