Summit Trail Advisors LLC Acquires 1,840 Shares of Eaton Corporation, PLC (NYSE:ETN)

Summit Trail Advisors LLC lifted its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 29.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,161 shares of the industrial products company's stock after acquiring an additional 1,840 shares during the period. Summit Trail Advisors LLC's holdings in Eaton were worth $2,218,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Eaton by 1.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,269 shares of the industrial products company's stock valued at $24,810,000 after acquiring an additional 1,582 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in shares of Eaton by 13.7% during the first quarter. Clear Creek Financial Management LLC now owns 3,130 shares of the industrial products company's stock valued at $851,000 after purchasing an additional 377 shares during the period. Mather Group LLC. raised its stake in shares of Eaton by 1.3% during the first quarter. Mather Group LLC. now owns 4,690 shares of the industrial products company's stock valued at $1,275,000 after purchasing an additional 61 shares in the last quarter. Alta Advisers Ltd lifted its holdings in Eaton by 46.2% in the first quarter. Alta Advisers Ltd now owns 1,900 shares of the industrial products company's stock worth $516,000 after purchasing an additional 600 shares during the period. Finally, Cypress Capital LLC grew its position in Eaton by 2.7% in the 1st quarter. Cypress Capital LLC now owns 8,999 shares of the industrial products company's stock valued at $2,446,000 after buying an additional 236 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Up 1.1%

Eaton stock traded up $3.79 during midday trading on Thursday, reaching $361.98. The stock had a trading volume of 1,088,115 shares, compared to its average volume of 2,658,104. The firm's fifty day simple moving average is $323.41 and its two-hundred day simple moving average is $312.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The firm has a market cap of $141.64 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 2.68 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a return on equity of 23.41% and a net margin of 15.55%. Eaton's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 earnings per share. Equities analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a $1.04 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.15%. Eaton's dividend payout ratio is 41.98%.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the sale, the insider directly owned 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock valued at $49,622,894 over the last three months. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

ETN has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Eaton from $323.00 to $351.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Morgan Stanley decreased their price target on Eaton from $385.00 to $375.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. BNP Paribas began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Evercore ISI upped their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada upped their price target on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $369.06.

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.