Harrell Investment Partners LLC Sells 4,210 Shares of Eaton Co. plc (NYSE:ETN)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETN. Dark Forest Capital Management LP acquired a new stake in Eaton in the 2nd quarter valued at about $400,000. Maverick Capital Ltd. bought a new position in Eaton in the 2nd quarter valued at about $782,000. Lighthouse Investment Partners LLC bought a new position in Eaton in the 2nd quarter valued at about $2,195,000. Susquehanna Fundamental Investments LLC bought a new position in Eaton in the 2nd quarter valued at about $2,383,000. Finally, Dorsey Wright & Associates raised its holdings in Eaton by 2.6% in the 2nd quarter. Dorsey Wright & Associates now owns 7,237 shares of the industrial products company’s stock valued at $2,269,000 after acquiring an additional 184 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.3 %

ETN opened at $368.63 on Friday. Eaton Co. plc has a 1-year low of $241.87 and a 1-year high of $379.99. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $145.68 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.06. The company has a fifty day moving average price of $353.96 and a two-hundred day moving average price of $331.35.

Eaton (NYSE:ETN) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 earnings per share. Analysts predict that Eaton Co. plc will post 10.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Mizuho increased their price target on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays raised their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada raised their target price on shares of Eaton from $374.00 to $392.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Eaton has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Insider Transactions at Eaton

In related news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock valued at $27,660,117 over the last three months. Corporate insiders own 0.53% of the company’s stock.

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.