Harbor Investment Advisory LLC Has $1.22 Million Position in Eaton Co. plc (NYSE:ETN)

Harbor Investment Advisory LLC boosted its holdings in shares of Eaton Co. plc (NYSE:ETN) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,903 shares of the industrial products company’s stock after buying an additional 203 shares during the period. Harbor Investment Advisory LLC’s holdings in Eaton were worth $1,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ETN. Norges Bank bought a new position in shares of Eaton during the fourth quarter valued at $1,087,983,000. Balyasny Asset Management L.P. lifted its holdings in shares of Eaton by 2,006.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock valued at $232,326,000 after acquiring an additional 918,936 shares during the period. Capital World Investors bought a new position in shares of Eaton during the fourth quarter valued at $181,411,000. Artisan Partners Limited Partnership raised its holdings in shares of Eaton by 207.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock valued at $233,698,000 after buying an additional 654,855 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Eaton by 19.9% in the fourth quarter. TD Asset Management Inc now owns 2,029,795 shares of the industrial products company’s stock valued at $488,815,000 after buying an additional 337,351 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Berenberg Bank boosted their price objective on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays raised Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Mizuho restated a “buy” rating and set a $355.00 target price (up from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Finally, Wolfe Research restated an “underperform” rating and set a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at approximately $1,687,738.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by company insiders.

Eaton Trading Up 0.6 %

NYSE ETN opened at $322.08 on Tuesday. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The stock has a market capitalization of $128.77 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.68 and a beta of 1.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The stock’s 50 day moving average price is $324.80 and its two-hundred day moving average price is $290.83.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business posted $1.88 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.