Harbor Investment Advisory LLC Buys 3,586 Shares of Eaton Co. plc (NYSE:ETN)

Harbor Investment Advisory LLC grew its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 3,145.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,700 shares of the industrial products company's stock after buying an additional 3,586 shares during the quarter. Harbor Investment Advisory LLC's holdings in Eaton were worth $891,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Eaton by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company's stock worth $7,749,751,000 after acquiring an additional 176,900 shares during the period. FMR LLC boosted its stake in shares of Eaton by 36.0% in the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company's stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares during the period. State Street Corp grew its holdings in Eaton by 8.9% during the 1st quarter. State Street Corp now owns 16,538,340 shares of the industrial products company's stock valued at $2,833,676,000 after purchasing an additional 1,358,584 shares in the last quarter. Morgan Stanley increased its stake in Eaton by 26.2% during the 4th quarter. Morgan Stanley now owns 12,542,343 shares of the industrial products company's stock worth $1,968,521,000 after buying an additional 2,602,246 shares during the period. Finally, Geode Capital Management LLC boosted its position in Eaton by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 7,084,548 shares of the industrial products company's stock valued at $1,210,672,000 after buying an additional 136,334 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Activity at Eaton

In related news, insider Peter Denk sold 1,731 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Peter Denk sold 1,731 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now owns 5,514 shares of the company's stock, valued at $1,593,380.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares of the company's stock, valued at $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Eaton Stock Performance

NYSE:ETN traded up $2.89 during mid-day trading on Thursday, hitting $317.26. The stock had a trading volume of 1,494,806 shares, compared to its average volume of 1,880,105. Eaton Co. plc has a 52 week low of $156.80 and a 52 week high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $126.75 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 2.71 and a beta of 1.07. The company has a 50 day simple moving average of $294.91 and a 200-day simple moving average of $249.99.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts expect that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were paid a $0.94 dividend. This is a boost from Eaton's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.76 annualized dividend and a dividend yield of 1.19%. Eaton's dividend payout ratio is presently 46.88%.

Analyst Ratings Changes

A number of brokerages recently commented on ETN. Citigroup increased their price target on Eaton from $270.00 to $310.00 and gave the company a "buy" rating in a report on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Eaton from $220.00 to $257.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 19th. Berenberg Bank increased their price objective on shares of Eaton from $200.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Mizuho upped their target price on shares of Eaton from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Finally, Bank of America lifted their price target on Eaton from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $288.94.

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.