Summit Trail Advisors LLC Has $1.68 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Summit Trail Advisors LLC raised its stake in Eaton Co. plc (NYSE:ETN) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,079 shares of the industrial products company’s stock after purchasing an additional 703 shares during the period. Summit Trail Advisors LLC’s holdings in Eaton were worth $1,683,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Eaton by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 576,657 shares of the industrial products company’s stock worth $180,310,000 after acquiring an additional 8,153 shares during the period. Ascent Group LLC bought a new position in shares of Eaton during the 1st quarter worth about $231,000. Waverly Advisors LLC lifted its holdings in shares of Eaton by 7.1% during the 1st quarter. Waverly Advisors LLC now owns 7,323 shares of the industrial products company’s stock worth $2,290,000 after acquiring an additional 483 shares during the period. Bayesian Capital Management LP bought a new position in shares of Eaton during the 1st quarter worth about $600,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Eaton by 15.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after acquiring an additional 176,571 shares during the period. 82.97% of the stock is owned by institutional investors.

Eaton Stock Up 1.7 %

Eaton stock opened at $377.41 on Monday. The company’s 50 day simple moving average is $342.75 and its 200 day simple moving average is $322.91. Eaton Co. plc has a fifty-two week low of $224.52 and a fifty-two week high of $378.00. The firm has a market capitalization of $149.15 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping 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 business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm earned $2.47 EPS. Eaton’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis 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 Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. The trade was a 10.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Yelton sold 3,136 shares of Eaton stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the completion of the transaction, the insider now directly owns 3,914 shares in the company, valued at approximately $1,186,411.68. The trade was a 44.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,705 shares of company stock valued at $24,516,346. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ETN. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and increased their target price for the stock from $333.00 to $389.00 in a research report on Wednesday, November 13th. Barclays dropped their target price on shares of Eaton from $327.00 to $320.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. UBS Group initiated coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Mizuho raised their price objective on shares of Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $374.00 price objective on shares of Eaton 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. According to MarketBeat, Eaton has a consensus 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.