Orion Portfolio Solutions LLC Sells 1,976 Shares of Eaton Co. plc (NYSE:ETN)

Orion Portfolio Solutions LLC reduced its holdings in Eaton Co. plc (NYSE:ETN) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,621 shares of the industrial products company’s stock after selling 1,976 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Eaton were worth $10,162,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new stake in Eaton in the fourth quarter valued at $30,000. Horizon Bancorp Inc. IN raised its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Eaton in the 3rd quarter valued at about $33,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the 4th quarter valued at about $33,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

Shares of Eaton stock opened at $274.05 on Friday. The firm has a market capitalization of $107.37 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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’s fifty day simple moving average is $305.90 and its 200 day simple moving average is $331.12. Eaton Co. plc has a 12 month low of $255.65 and a 12 month high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $2.55 EPS. As a group, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.52%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Melius Research reiterated a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday, March 12th. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target for the company. in a research note on Tuesday, January 28th. Evercore ISI reduced their price objective on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $357.16.

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.