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

Orion Capital Management LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,423 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Orion Capital Management LLC’s holdings in Eaton were worth $803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Great Valley Advisor Group Inc. increased its stake in Eaton by 50.4% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,377 shares of the industrial products company’s stock valued at $1,373,000 after buying an additional 1,467 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Eaton during the 2nd quarter worth approximately $178,000. GPS Wealth Strategies Group LLC increased its stake in shares of Eaton by 5.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,614 shares of the industrial products company’s stock worth $820,000 after purchasing an additional 131 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Eaton by 3.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,723 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of Eaton by 5.6% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,300 shares of the industrial products company’s stock worth $3,543,000 after purchasing an additional 600 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ETN has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James cut their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a report on Monday, September 9th. Bank of America raised their price target on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays raised their price objective on shares of Eaton from $320.00 to $353.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $367.83.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the transaction, the insider now directly owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,981 shares of company stock worth $24,100,317. Corporate insiders own 0.53% of the company’s stock.

Eaton Trading Down 1.9 %

NYSE:ETN opened at $364.09 on Tuesday. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The company’s 50-day simple moving average is $353.40 and its 200 day simple moving average is $325.99. The firm has a market capitalization of $143.89 billion, a P/E ratio of 38.73, a PEG ratio of 2.81 and a beta of 1.03.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 earnings per share. As a group, analysts forecast that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a dividend yield of 1.03%. Eaton’s dividend payout ratio is presently 40.00%.

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.