Eaton Co. plc (NYSE:ETN) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its position in Eaton Co. plc (NYSE:ETN) by 41.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,693 shares of the industrial products company’s stock after acquiring an additional 499 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Eaton were worth $408,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ETN. Tennessee Valley Asset Management Partners acquired a new position in Eaton during the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new position in shares of Eaton in the fourth quarter worth about $35,000. Chilton Capital Management LLC acquired a new position in shares of Eaton in the fourth quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Eaton in the third quarter worth about $39,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Eaton in the third quarter worth about $43,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

ETN traded up $5.95 during trading on Wednesday, reaching $318.79. 3,336,532 shares of the company’s stock were exchanged, compared to its average volume of 1,943,611. Eaton Co. plc has a fifty-two week low of $161.12 and a fifty-two week high of $331.47. The company has a quick ratio of 1.02, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $302.20 and a 200 day moving average price of $256.66. The company has a market capitalization of $127.36 billion, a P/E ratio of 39.02, a PEG ratio of 2.55 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. Eaton had a net margin of 13.88% and a return on equity of 20.05%. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the previous year, the company earned $2.06 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts predict that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. Eaton’s dividend payout ratio is presently 46.88%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wolfe Research reaffirmed an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Evercore ISI raised their price objective on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Bank of America raised their price objective on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Citigroup lifted their price target on shares of Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Insider Activity

In related news, insider Ernest W. Marshall, Jr. sold 19,750 shares of Eaton stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the completion of the transaction, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total transaction of $5,395,107.50. Following the completion of the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,969 shares of company stock worth $10,904,774. Corporate insiders own 0.33% 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.