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

DRW Securities LLC purchased a new position in shares of Eaton Co. plc (NYSE:ETN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,545 shares of the industrial products company’s stock, valued at approximately $1,506,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Legal & General Group Plc grew its position in Eaton by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after acquiring an additional 18,077 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Eaton by 2.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock worth $471,370,000 after acquiring an additional 40,078 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock worth $355,959,000 after buying an additional 1,070,024 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Eaton by 8.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 923,033 shares of the industrial products company’s stock worth $305,930,000 after buying an additional 74,415 shares during the last quarter. Finally, National Pension Service grew its position in shares of Eaton by 13.0% in the 3rd quarter. National Pension Service now owns 865,820 shares of the industrial products company’s stock worth $286,967,000 after buying an additional 99,381 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.2 %

Shares of NYSE:ETN opened at $376.56 on Tuesday. The stock has a fifty day simple moving average of $344.15 and a two-hundred day simple moving average of $323.22. The stock has a market capitalization of $148.81 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 2.99 and a beta of 1.01. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $379.12. 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 announced 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. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 earnings per share. On average, research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the business’s stock in a transaction 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 transaction, the insider now owns 506,360 shares in the company, 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 through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of the firm’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 of the company’s stock, valued at approximately $662,161.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 68,705 shares of company stock worth $24,516,346 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ETN has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 price objective on the stock. Barclays cut their price objective 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. Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James cut their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Evercore ISI lowered Eaton from an “outperform” rating to an “inline” rating and lifted their price objective for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.