Orion Portfolio Solutions LLC Has $10.16 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Orion Portfolio Solutions LLC lessened its stake in Eaton Co. plc (NYSE:ETN) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Flagship Wealth Advisors LLC acquired a new stake in Eaton in the fourth quarter worth about $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $30,000. Groupama Asset Managment raised its stake in shares of Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after buying an additional 4,298 shares during the last quarter. Horizon Bancorp Inc. IN lifted its holdings in Eaton by 321.7% in the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares during the period. Finally, Morse Asset Management Inc bought a new position in Eaton in the third quarter valued at approximately $33,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 2.4 %

Shares of NYSE ETN opened at $274.05 on Friday. The firm has a 50 day moving average price of $305.90 and a two-hundred day moving average price of $331.12. The stock has a market cap 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. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

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

Eaton Increases Dividend

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

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Citigroup lowered their price target on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Evercore ISI lowered their target price on shares of Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research note 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $357.16.

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.