Eaton Co. plc (NYSE:ETN) Shares Sold by Harrell Investment Partners LLC

Harrell Investment Partners LLC trimmed its position in Eaton Co. plc (NYSE:ETN) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,913 shares of the industrial products company’s stock after selling 4,210 shares during the period. Eaton accounts for about 2.9% of Harrell Investment Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Harrell Investment Partners LLC’s holdings in Eaton were worth $10,259,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock valued at $753,590,000 after buying an additional 1,629,856 shares during the last quarter. International Assets Investment Management LLC boosted its position in Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after acquiring an additional 1,070,024 shares during the period. Janus Henderson Group PLC boosted its position in Eaton by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after acquiring an additional 597,700 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Eaton during the third quarter valued at about $137,794,000. Finally, Assenagon Asset Management S.A. increased its stake in Eaton by 3,508.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after buying an additional 390,595 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares in the company, valued at approximately $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 have sold 76,981 shares of company stock valued at $27,660,117 over the last three months. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ETN. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and increased their price target for the company from $333.00 to $389.00 in a research note on Wednesday, November 13th. Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Bank of America increased their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group assumed coverage on Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $368.89.

Eaton Price Performance

ETN opened at $368.63 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $241.87 and a 12-month high of $379.99. The stock has a fifty day moving average of $353.96 and a 200-day moving average of $331.35. The firm has a market capitalization of $145.68 billion, a P/E ratio of 39.22, a PEG ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data 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. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company earned $2.47 earnings per share. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

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.