Orion Portfolio Solutions LLC Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Orion Portfolio Solutions LLC increased its stake in shares of Eaton Co. plc (NYSE:ETNFree Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,986 shares of the industrial products company’s stock after buying an additional 258 shares during the period. Orion Portfolio Solutions LLC’s holdings in Eaton were worth $7,405,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Eaton by 0.5% during the third quarter. Vanguard Group Inc. now owns 36,336,041 shares of the industrial products company’s stock worth $7,749,751,000 after buying an additional 176,900 shares during the last quarter. FMR LLC increased its holdings in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock worth $4,248,960,000 after buying an additional 5,270,331 shares during the last quarter. Northern Trust Corp increased its holdings in Eaton by 2.2% during the third quarter. Northern Trust Corp now owns 5,009,435 shares of the industrial products company’s stock worth $1,068,412,000 after buying an additional 109,775 shares during the last quarter. Norges Bank purchased a new stake in Eaton during the fourth quarter worth about $1,087,983,000. Finally, Raymond James & Associates increased its holdings in Eaton by 3.8% during the fourth quarter. Raymond James & Associates now owns 3,739,725 shares of the industrial products company’s stock worth $900,600,000 after buying an additional 138,465 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

ETN traded up $2.47 on Friday, reaching $340.89. The company had a trading volume of 1,495,686 shares, compared to its average volume of 2,098,512. The business has a 50 day simple moving average of $320.31 and a 200 day simple moving average of $275.78. The company has a market cap of $136.29 billion, a price-to-earnings ratio of 40.25, a P/E/G ratio of 2.85 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a 52-week low of $172.67 and a 52-week high of $345.19.

Eaton (NYSE:ETNGet Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, May 3rd. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the transaction, the insider now directly owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total transaction of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Denk sold 1,731 shares of Eaton 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 transaction, the insider now directly owns 5,514 shares in the company, valued at $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold 17,174 shares of company stock valued at $5,098,000 over the last three months. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research reports. Citigroup increased their target price on shares of Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $286.00 to $371.00 in a research report on Friday, April 5th. Bank of America increased their target price on shares of Eaton from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. The Goldman Sachs Group increased their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Berenberg Bank increased their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

View Our Latest Report on Eaton

Eaton Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eaton (NYSE:ETN)

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