Eaton Co. plc (NYSE:ETN) Shares Purchased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,242 shares of the industrial products company’s stock after acquiring an additional 197 shares during the period. Clear Harbor Asset Management LLC’s holdings in Eaton were worth $412,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Eaton by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after purchasing an additional 56,516 shares during the period. Legal & General Group Plc boosted its holdings in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock valued at $1,005,317,000 after acquiring an additional 18,077 shares during the period. Franklin Resources Inc. grew its position in shares of Eaton by 15.1% during the third quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock worth $836,938,000 after acquiring an additional 316,830 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Eaton by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eaton by 253.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’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 trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock valued at $27,660,117 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Eaton Price Performance

Shares of NYSE:ETN opened at $357.45 on Wednesday. The company has a market capitalization of $141.27 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.40 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The stock has a fifty day moving average of $353.82 and a 200-day moving average of $330.17. Eaton Co. plc has a one year low of $239.17 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. Eaton’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 earnings per share. As a group, equities analysts anticipate that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ETN shares. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price target on the stock. Wells Fargo & Company lowered their target price on Eaton from $365.00 to $350.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Citigroup reduced their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Sanford C. Bernstein assumed coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $368.89.

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.