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

Summit Trail Advisors LLC decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 28.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,376 shares of the industrial products company’s stock after selling 1,748 shares during the period. Summit Trail Advisors LLC’s holdings in Eaton were worth $1,372,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new position in Eaton during the 1st quarter worth about $25,000. Breakwater Investment Management raised its position in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. raised its position in Eaton by 142.9% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in Eaton in the 2nd quarter valued at about $29,000. Finally, LGT Financial Advisors LLC acquired a new stake in Eaton in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $330.60 on Friday. The stock has a fifty day moving average price of $299.93 and a 200 day moving average price of $312.60. The stock has a market cap of $132.17 billion, a PE ratio of 39.03, a P/E/G ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a 1 year low of $191.82 and a 1 year high of $345.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.07 and a current ratio of 1.56.

Eaton (NYSE:ETN) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.12. Eaton had a return on equity of 21.45% and a net margin of 15.12%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Sell-side analysts forecast that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio is currently 44.39%.

Insider Activity

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Dorothy C. Thompson bought 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the completion of the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The disclosure for this sale can be found here. Insiders sold a total of 52,511 shares of company stock valued at $15,809,326 over the last quarter. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

ETN has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wolfe Research raised Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Evercore ISI cut their target price on Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Morgan Stanley began coverage on Eaton in a research report on Friday, September 6th. They set an “overweight” rating and a $370.00 target price on the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $337.41.

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.