Eaton Co. plc (NYSE:ETN) is Private Harbour Investment Management & Counsel LLC’s 9th Largest Position

Private Harbour Investment Management & Counsel LLC reduced its stake in Eaton Co. plc (NYSE:ETN) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 10,411 shares of the industrial products company’s stock after selling 387 shares during the period. Eaton comprises about 3.8% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 9th biggest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Eaton were worth $3,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ETN. Trust Investment Advisors lifted its stake in Eaton by 10.6% during the fourth quarter. Trust Investment Advisors now owns 6,579 shares of the industrial products company’s stock worth $2,183,000 after purchasing an additional 628 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Eaton during the fourth quarter valued at approximately $33,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Eaton by 0.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,780 shares of the industrial products company’s stock worth $11,874,000 after acquiring an additional 220 shares in the last quarter. PKS Advisory Services LLC bought a new stake in shares of Eaton in the 4th quarter worth approximately $556,000. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of Eaton by 4.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 2,004 shares of the industrial products company’s stock valued at $665,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

ETN has been the subject of several recent research reports. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a research note on Tuesday, January 28th. Royal Bank of Canada dropped their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Barclays dropped their price objective on Eaton from $353.00 to $325.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Citigroup decreased their target price on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $357.68.

Eaton Stock Performance

Shares of Eaton stock opened at $300.11 on Wednesday. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $309.76 and a two-hundred day simple moving average of $331.90. The firm has a market capitalization of $117.57 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the business earned $2.55 earnings per share. On average, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

About Eaton

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.