Eaton Co. plc (NYSE:ETN) Shares Purchased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 4.9% during the fourth quarter, Holdings Channel reports. The firm owned 4,625 shares of the industrial products company’s stock after purchasing an additional 218 shares during the period. Harbor Investment Advisory LLC’s holdings in Eaton were worth $1,535,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Strategic Wealth Partners Ltd. lifted its stake in Eaton by 3.0% during the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after buying an additional 30 shares in the last quarter. Fairfield Financial Advisors LTD lifted its position in shares of Eaton by 16.2% in the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 30 shares in the last quarter. Westmount Partners LLC grew its position in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares in the last quarter. Signal Advisors Wealth LLC raised its stake in Eaton by 3.5% during the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Eaton by 2.1% in the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after purchasing an additional 32 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 owns 31,200 shares of the company’s stock, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,981 shares of company stock worth $27,660,117. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ETN shares. Bank of America upped their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target for the company. UBS Group began coverage on shares of Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Barclays upped their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $368.89.

Eaton Stock Performance

Shares of ETN opened at $346.54 on Tuesday. The company has a market capitalization of $136.95 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. 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 Co. plc has a one year low of $236.20 and a one year high of $379.99. The company’s fifty day moving average price is $354.32 and its 200 day moving average price is $329.97.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion during 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 firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 EPS. As a group, analysts expect that Eaton Co. plc will post 10.8 earnings per share 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.