Eaton Co. plc (NYSE:ETN) Shares Acquired by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. increased its position in shares of Eaton Co. plc (NYSE:ETN) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,449 shares of the industrial products company’s stock after acquiring an additional 298 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Eaton were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment increased its holdings in shares of Eaton by 83.2% during the 3rd 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 increased its stake in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Eaton in the third quarter valued at $33,000. West Financial Advisors LLC acquired a new position in shares of Eaton in the 3rd quarter valued at $35,000. Finally, DT Investment Partners LLC acquired a new stake in shares of Eaton during the 3rd quarter worth about $37,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Melius Research restated a “hold” rating and set a $373.00 price target on shares of Eaton in a research note on Tuesday. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and raised their target price for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Mizuho boosted their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and a consensus price target of $369.30.

Insider Buying and Selling at Eaton

In related news, Director Gregory R. Page sold 4,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at approximately $17,241,796.60. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,981 shares of company stock worth $27,660,117 in the last quarter. 0.53% of the stock is owned by insiders.

Eaton Price Performance

Shares of NYSE:ETN traded up $4.41 on Wednesday, hitting $317.08. The company had a trading volume of 511,004 shares, compared to its average volume of 3,210,241. The business has a 50 day moving average of $351.98 and a 200 day moving average of $331.21. Eaton Co. plc has a 52-week low of $245.65 and a 52-week high of $379.99. The company has a market cap of $125.31 billion, a PE ratio of 33.84, a PEG ratio of 2.57 and a beta of 1.06. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.04. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $2.47 EPS. Eaton’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Company 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.