Dark Forest Capital Management LP Invests $400,000 in Eaton Co. plc (NYSE:ETN)

Dark Forest Capital Management LP bought a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,275 shares of the industrial products company’s stock, valued at approximately $400,000.

Several other institutional investors have also bought and sold shares of ETN. Gryphon Financial Partners LLC increased its stake in Eaton by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,053 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $554,000. J. W. Coons Advisors LLC lifted its holdings in Eaton by 2.1% during the fourth quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after acquiring an additional 265 shares during the period. Scotia Capital Inc. boosted its position in Eaton by 206.1% in the fourth quarter. Scotia Capital Inc. now owns 24,381 shares of the industrial products company’s stock worth $5,871,000 after purchasing an additional 16,417 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Eaton by 70.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 4,944 shares of the industrial products company’s stock valued at $1,191,000 after purchasing an additional 2,048 shares during the period. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction on Monday, August 12th. The shares were sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares in the company, valued at approximately $2,858,328. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy C. Thompson purchased 2,205 shares of Eaton stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold 52,511 shares of company stock valued at $15,809,326 in the last quarter. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Citigroup initiated coverage on Eaton in a research report on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Finally, Barclays upped their price target on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average price target of $337.41.

Eaton Stock Down 1.4 %

ETN opened at $328.45 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a one year low of $191.82 and a one year high of $345.19. The firm has a market capitalization of $130.76 billion, a P/E ratio of 38.78, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a fifty day moving average price of $301.03 and a 200-day moving average price of $313.73.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Equities research analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 dividend on an annualized basis and a yield of 1.14%. Eaton’s dividend payout ratio is presently 44.39%.

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.