Harbor Investment Advisory LLC Grows Stake in Eaton Co. plc (NYSE:ETN)

Harbor Investment Advisory LLC increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,625 shares of the industrial products company’s stock after purchasing an additional 218 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Eaton were worth $1,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its holdings in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after buying an additional 4,298 shares in the last quarter. Horizon Bancorp Inc. IN lifted its position in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc acquired a new position in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC purchased a new position in shares of Eaton during the third quarter worth about $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the third quarter worth about $37,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the stock in a transaction on 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 sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,981 shares of company stock valued at $27,660,117 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ETN has been the topic of a number of research reports. Barclays raised their price target on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Jefferies Financial Group lifted their target price on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America lifted their price objective 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. Sanford C. Bernstein started coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Finally, UBS Group assumed coverage on Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $368.89.

Eaton Stock Up 0.4 %

ETN stock opened at $346.54 on Tuesday. Eaton Co. plc has a 52 week low of $236.20 and a 52 week high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $136.95 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.27 and a beta of 1.06. The company’s 50-day moving average price is $354.32 and its 200 day moving average price is $329.97.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.47 EPS. On average, research analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

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.