Summit Trail Advisors LLC Buys 1,242 Shares of Eaton Co. plc (NYSE:ETN)

Summit Trail Advisors LLC raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 24.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,321 shares of the industrial products company’s stock after buying an additional 1,242 shares during the period. Summit Trail Advisors LLC’s holdings in Eaton were worth $2,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ETN. CHICAGO TRUST Co NA grew its position in shares of Eaton by 77.7% in the third quarter. CHICAGO TRUST Co NA now owns 1,965 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 859 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Eaton by 62.9% in the third quarter. Sound Income Strategies LLC now owns 697 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 269 shares during the last quarter. Willis Investment Counsel grew its position in shares of Eaton by 43.5% in the third quarter. Willis Investment Counsel now owns 61,626 shares of the industrial products company’s stock valued at $20,425,000 after purchasing an additional 18,685 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Eaton by 251.5% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,037 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 742 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Eaton by 3.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,358 shares of the industrial products company’s stock valued at $2,107,000 after purchasing an additional 207 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Performance

NYSE:ETN opened at $319.97 on Tuesday. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm has a 50 day moving average of $343.25 and a 200-day moving average of $331.29. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $126.45 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 2.37 and a beta of 1.05.

Eaton (NYSE:ETN) last posted its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the previous year, the company earned $2.55 earnings per share. As a group, sell-side analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory R. Page sold 10,000 shares of Eaton stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ETN shares. Jefferies Financial Group lifted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada decreased their target price on Eaton from $407.00 to $405.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Barclays lifted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Sanford C. Bernstein started coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Finally, Melius Research reissued a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.20.

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.