Summit Trail Advisors LLC Acquires 262 Shares of Eaton Co. plc (NYSE:ETN)

Summit Trail Advisors LLC boosted its holdings in Eaton Co. plc (NYSE:ETN) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,004 shares of the industrial products company’s stock after buying an additional 262 shares during the quarter. Summit Trail Advisors LLC’s holdings in Eaton were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC lifted its stake in shares of Eaton by 5.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,496 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 82 shares during the period. J.W. Cole Advisors Inc. purchased a new position in shares of Eaton during the 3rd quarter worth $351,000. Brown Advisory Inc. raised its holdings in Eaton by 5.3% in the 3rd quarter. Brown Advisory Inc. now owns 37,399 shares of the industrial products company’s stock worth $7,977,000 after purchasing an additional 1,871 shares during the period. Lindbrook Capital LLC raised its stake in shares of Eaton by 15.7% in the third quarter. Lindbrook Capital LLC now owns 2,347 shares of the industrial products company’s stock worth $501,000 after buying an additional 319 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Eaton by 24.5% during the third quarter. GPS Wealth Strategies Group LLC now owns 2,188 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 431 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Up 2.2 %

Eaton stock traded up $6.90 during trading hours on Monday, reaching $327.40. The stock had a trading volume of 1,296,563 shares, compared to its average volume of 2,028,111. The business’s 50 day moving average price is $308.68 and its 200-day moving average price is $262.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.56 and a quick ratio of 1.05. Eaton Co. plc has a 52 week low of $165.24 and a 52 week high of $333.05. The company has a market cap of $130.89 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 2.54 and a beta of 1.06.

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

Eaton Announces Dividend

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

Insider Activity

In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the sale, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Eaton news, insider Ernest W. Marshall, Jr. sold 19,750 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $273.17, for a total value of $5,395,107.50. Following the sale, the insider now directly owns 29,712 shares of the company’s stock, valued at $8,116,427.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares in the company, valued at approximately $171,360. The disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock worth $10,904,774 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ETN has been the topic of several research analyst reports. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Argus boosted their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI raised their target price on shares of Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised Eaton from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Finally, UBS Group lifted their price objective on shares of Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.