Alpha DNA Investment Management LLC Buys New Holdings in Eaton Co. plc (NYSE:ETN)

Alpha DNA Investment Management LLC acquired a new position in Eaton Co. plc (NYSE:ETN) during the third quarter, Holdings Channel.com reports. The firm acquired 2,688 shares of the industrial products company’s stock, valued at approximately $891,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. boosted its holdings in Eaton by 3.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 30 shares during the last quarter. Fairfield Financial Advisors LTD boosted its stake in shares of Eaton by 16.2% in the third quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after buying an additional 30 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in Eaton by 1.2% during the second quarter. Legacy Capital Group California Inc. now owns 2,776 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 32 shares during the period. Venturi Wealth Management LLC raised its position in Eaton by 2.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 32 shares in the last quarter. Finally, Well Done LLC lifted its holdings in Eaton by 1.3% in the second quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock valued at $800,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling at Eaton

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $300.30 per share, with a total value of $662,161.50. Following the purchase, the director now directly owns 2,205 shares in the company, valued at approximately $662,161.50. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,705 shares of company stock worth $24,516,346 in the last three months. 0.53% of the stock is owned by corporate insiders.

Eaton Stock Up 1.7 %

NYSE ETN opened at $377.41 on Friday. The business has a fifty day moving average price of $342.75 and a 200 day moving average price of $322.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The company has a market cap of $149.15 billion, a P/E ratio of 40.15, a P/E/G ratio of 2.94 and a beta of 1.01. Eaton Co. plc has a one year low of $224.52 and a one year high of $378.00.

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

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETN shares. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Wells Fargo & Company increased their price target on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the company from $333.00 to $389.00 in a report on Wednesday, November 13th. Bank of America increased their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Barclays dropped their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.83.

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.