Harrell Investment Partners LLC Has $7.52 Million Holdings in Eaton Corporation, PLC (NYSE:ETN)

Harrell Investment Partners LLC cut its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,647 shares of the industrial products company's stock after selling 3,266 shares during the period. Eaton makes up approximately 2.2% of Harrell Investment Partners LLC's investment portfolio, making the stock its 12th largest position. Harrell Investment Partners LLC's holdings in Eaton were worth $7,515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ETN. Norden Group LLC boosted its holdings in Eaton by 3.4% in the fourth quarter. Norden Group LLC now owns 978 shares of the industrial products company's stock worth $325,000 after acquiring an additional 32 shares in the last quarter. Nwam LLC boosted its holdings in Eaton by 0.6% in the fourth quarter. Nwam LLC now owns 5,314 shares of the industrial products company's stock worth $1,764,000 after acquiring an additional 34 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in Eaton by 0.7% in the fourth quarter. Founders Financial Alliance LLC now owns 5,415 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 35 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in Eaton by 1.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,587 shares of the industrial products company's stock worth $1,190,000 after acquiring an additional 38 shares in the last quarter. Finally, Lantern Wealth Advisors LLC boosted its holdings in Eaton by 1.0% in the fourth quarter. Lantern Wealth Advisors LLC now owns 4,038 shares of the industrial products company's stock worth $1,340,000 after acquiring an additional 38 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE ETN opened at $333.92 on Thursday. The stock has a market cap of $130.66 billion, a PE ratio of 33.70, a P/E/G ratio of 2.56 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The stock has a fifty day simple moving average of $308.45 and a 200-day simple moving average of $314.22.

Eaton (NYSE:ETN - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the company earned $2.40 EPS. Eaton's revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.16 annualized dividend and a dividend yield of 1.25%. Eaton's dividend payout ratio is currently 41.98%.

Insider Activity

In related news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 in the last three months. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ETN. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. BNP Paribas Exane began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Finally, Morgan Stanley lowered their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eaton has an average rating of "Moderate Buy" and a consensus price target of $368.78.

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.

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