Eaton Co. plc (NYSE:ETN) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its stake in Eaton Co. plc (NYSE:ETN) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,004 shares of the industrial products company’s stock after purchasing an additional 262 shares during the period. Summit Trail Advisors LLC’s holdings in Eaton were worth $1,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners bought a new position in shares of Eaton during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC bought a new position in Eaton in the 4th quarter worth about $35,000. Chilton Capital Management LLC bought a new position in Eaton in the 4th quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Eaton in the third quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Insider Buying and Selling

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of Eaton stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the transaction, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now owns 69,472 shares in the company, valued at $20,244,140.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ETN has been the topic of several analyst reports. Wolfe Research restated an “underperform” rating and issued a $312.00 target price on shares of Eaton in a research report on Monday, April 8th. The Goldman Sachs Group raised their price target on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $286.00 to $371.00 in a report on Friday, April 5th. Mizuho reissued a “buy” rating and set a $355.00 target price (up previously from $340.00) on shares of Eaton in a research note on Wednesday, May 1st. Finally, Evercore ISI upped their price target on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Stock Up 2.2 %

Shares of ETN traded up $6.90 during mid-day trading on Monday, reaching $327.40. The company’s stock had a trading volume of 1,296,563 shares, compared to its average volume of 2,028,111. The company has a quick ratio of 1.05, a current ratio of 1.56 and a debt-to-equity ratio of 0.42. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $333.05. The business has a fifty day moving average of $308.68 and a 200 day moving average of $262.71. The company has a market cap of $130.89 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.12. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, May 3rd. Eaton’s payout ratio is 44.39%.

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.