Orion Capital Management LLC Sells 100 Shares of Eaton Co. plc (NYSE:ETN)

Orion Capital Management LLC lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,753 shares of the industrial products company’s stock after selling 100 shares during the period. Orion Capital Management LLC’s holdings in Eaton were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new position in shares of Eaton during the fourth quarter worth approximately $35,000. Chilton Capital Management LLC bought a new position in shares of Eaton during the fourth quarter worth approximately $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of Eaton during the third quarter worth approximately $39,000. Finally, Fortitude Family Office LLC bought a new position in Eaton during the 4th quarter worth $46,000. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent research reports. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Evercore ISI raised their price objective on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Citigroup raised their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. raised their target price on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Bank of America raised their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.93.

Eaton Price Performance

ETN stock traded down $1.39 during midday trading on Wednesday, reaching $316.87. 2,399,528 shares of the stock were exchanged, compared to its average volume of 2,013,530. The stock has a market capitalization of $126.59 billion, a PE ratio of 39.19, a P/E/G ratio of 2.71 and a beta of 1.07. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $333.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The company has a fifty day moving average price of $306.65 and a 200 day moving average price of $260.44.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the previous year, the company posted $1.88 EPS. Eaton’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts expect that Eaton Co. plc will post 10.28 EPS for the current fiscal year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.94 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.19%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Heath B. Monesmith sold 13,027 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of 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. In the last quarter, insiders have sold 38,969 shares of company stock worth $10,904,774. 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.