Alpha DNA Investment Management LLC Invests $891,000 in Eaton Co. plc (NYSE:ETN)

Alpha DNA Investment Management LLC purchased a new stake in Eaton Co. plc (NYSE:ETN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,688 shares of the industrial products company’s stock, valued at approximately $891,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strategic Wealth Partners Ltd. boosted its holdings in shares of Eaton by 3.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 30 shares during the period. Fairfield Financial Advisors LTD boosted its stake in Eaton by 16.2% during 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 period. Legacy Capital Group California Inc. increased its position 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 valued at $870,000 after acquiring an additional 32 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Eaton by 2.1% in 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 during the period. Finally, Well Done LLC lifted its holdings in shares of Eaton by 1.3% in the 2nd quarter. Well Done LLC now owns 2,551 shares of the industrial products company’s stock worth $800,000 after acquiring an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 1.7 %

ETN opened at $377.41 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market cap of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.94 and a beta of 1.01. Eaton Co. plc has a 12 month low of $224.52 and a 12 month high of $378.00. The stock has a fifty day moving average price of $342.75 and a 200-day moving average price of $322.97.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business 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 company posted $2.47 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Insider Activity

In other Eaton news, Director Dorothy C. Thompson purchased 2,205 shares of the stock in a transaction on 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 completion of the acquisition, the director now owns 2,205 shares in the company, valued at $662,161.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the transaction, the insider now owns 3,914 shares in the company, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,705 shares of company stock worth $24,516,346. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ETN. Raymond James reduced their price objective on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company upped their price objective on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI downgraded Eaton from an “outperform” rating to an “inline” rating and lifted their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Finally, Morgan Stanley assumed coverage on shares of Eaton in a research note on Friday, September 6th. They set an “overweight” rating and a $370.00 target price for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $357.83.

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.