4,545 Shares in Eaton Co. plc (NYSE:ETN) Bought by DRW Securities LLC

DRW Securities LLC acquired a new position in Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,545 shares of the industrial products company’s stock, valued at approximately $1,506,000.

Several other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Eaton by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock valued at $180,310,000 after purchasing an additional 8,153 shares during the period. Ascent Group LLC bought a new stake in Eaton during the first quarter valued at about $231,000. Bayesian Capital Management LP bought a new stake in Eaton during the first quarter valued at about $600,000. Dynasty Wealth Management LLC bought a new stake in Eaton during the first quarter valued at about $1,007,000. Finally, Castleark Management LLC grew its holdings in Eaton by 181.7% during the first quarter. Castleark Management LLC now owns 38,245 shares of the industrial products company’s stock valued at $11,958,000 after purchasing an additional 24,670 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 0.2 %

Shares of ETN stock opened at $376.56 on Tuesday. Eaton Co. plc has a 1 year low of $224.52 and a 1 year high of $379.12. 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 stock’s 50 day simple moving average is $344.15 and its two-hundred day simple moving average is $323.22. The company has a market cap of $148.81 billion, a PE ratio of 40.06, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01.

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

Eaton Announces Dividend

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

Insider Buying and Selling at Eaton

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock worth $24,516,346 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ETN. Bank of America boosted their price target on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Raymond James dropped their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Citigroup started coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective for the company. Morgan Stanley started coverage on Eaton in a research note on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $357.83.

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.