Eaton Co. plc (NYSE:ETN) Stock Holdings Lifted by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC raised its position in shares of Eaton Co. plc (NYSE:ETN) by 18.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,242 shares of the industrial products company’s stock after buying 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.

Several other institutional investors have also made changes to their positions in ETN. Seven Eight Capital LP bought a new stake in Eaton in the second quarter worth approximately $270,000. Thrivent Financial for Lutherans boosted its holdings in Eaton by 110.2% in the second quarter. Thrivent Financial for Lutherans now owns 57,820 shares of the industrial products company’s stock worth $18,129,000 after purchasing an additional 30,319 shares in the last quarter. ProShare Advisors LLC increased its position in Eaton by 10.9% during the second quarter. ProShare Advisors LLC now owns 60,658 shares of the industrial products company’s stock worth $19,019,000 after buying an additional 5,970 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Eaton by 44.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the industrial products company’s stock valued at $542,000 after buying an additional 547 shares in the last quarter. Finally, Certified Advisory Corp lifted its position in shares of Eaton by 25.0% in the second quarter. Certified Advisory Corp now owns 1,060 shares of the industrial products company’s stock worth $332,000 after buying an additional 212 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Trading Up 3.2 %

Shares of Eaton stock opened at $357.45 on Wednesday. The company’s fifty day moving average price is $353.82 and its two-hundred day moving average price is $330.17. The firm 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. Eaton Co. plc has a 52-week low of $239.17 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETN. Royal Bank of Canada raised their price objective on Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein began coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 target price on the stock. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and upped their price target for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price target 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at $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 sold 76,981 shares of company stock worth $27,660,117 in the last 90 days. 0.33% of the stock is owned by company insiders.

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.