DRW Securities LLC Takes Position in Eaton Co. plc (NYSE:ETN)

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of ETN. Bedell Frazier Investment Counselling LLC grew its stake in Eaton by 4.5% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 2,661 shares of the industrial products company's stock valued at $882,000 after purchasing an additional 115 shares during the last quarter. Independent Advisor Alliance lifted its holdings in shares of Eaton by 27.0% during the third quarter. Independent Advisor Alliance now owns 33,861 shares of the industrial products company's stock worth $11,223,000 after purchasing an additional 7,197 shares during the period. Prosperity Financial Group Inc. boosted its position in Eaton by 150.8% in the third quarter. Prosperity Financial Group Inc. now owns 3,310 shares of the industrial products company's stock valued at $1,097,000 after buying an additional 1,990 shares during the last quarter. Bank of Hawaii increased its holdings in Eaton by 1.2% in the 3rd quarter. Bank of Hawaii now owns 5,922 shares of the industrial products company's stock worth $1,963,000 after buying an additional 69 shares during the period. Finally, Douglass Winthrop Advisors LLC raised its position in Eaton by 21.6% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 2,530 shares of the industrial products company's stock worth $839,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Price Performance

ETN stock traded up $0.55 during midday trading on Tuesday, reaching $377.23. The stock had a trading volume of 2,096,127 shares, compared to its average volume of 2,112,109. Eaton Co. plc has a 52-week low of $224.52 and a 52-week high of $379.99. The company has a market cap of $149.08 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 2.99 and a beta of 1.01. The company's fifty day simple moving average is $345.46 and its 200 day simple moving average is $323.55. 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 - Get Free Report) 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 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 company had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the company earned $2.47 EPS. Eaton's revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the sale, the insider now directly owns 3,914 shares of the company's stock, valued at approximately $1,186,411.68. This trade represents a 44.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,117 shares of company stock worth $25,050,901 in the last quarter. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price objective on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $374.00 price objective on shares of Eaton in a research note on Friday, November 1st. Morgan Stanley assumed coverage on Eaton in a research note on Friday, September 6th. They issued an "overweight" rating and a $370.00 target price on the stock. Mizuho lifted their price target on Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Barclays lowered 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. 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 stock currently has a consensus rating of "Moderate Buy" and an average 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.