Summerhill Capital Management lnc. Grows Position in Eaton Co. plc (NYSE:ETN)

Summerhill Capital Management lnc. grew its stake in Eaton Co. plc (NYSE:ETN) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,865 shares of the industrial products company’s stock after purchasing an additional 342 shares during the period. Eaton comprises approximately 3.4% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 15th largest holding. Summerhill Capital Management lnc.’s holdings in Eaton were worth $4,601,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ETN. Foundations Investment Advisors LLC boosted its position in Eaton by 17.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 271 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Eaton by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 38,564 shares of the industrial products company’s stock valued at $12,782,000 after buying an additional 5,508 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Eaton by 31.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,716 shares of the industrial products company’s stock valued at $901,000 after buying an additional 643 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Eaton by 27,075.5% during the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares in the last quarter. Finally, YHB Investment Advisors Inc. lifted its position in shares of Eaton by 18.8% during the 3rd quarter. YHB Investment Advisors Inc. now owns 14,859 shares of the industrial products company’s stock valued at $4,925,000 after buying an additional 2,351 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $355.98, for a total value 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. The trade was a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. 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. Melius Research reiterated a “hold” rating and set a $373.00 target price on shares of Eaton in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price objective on Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Seven equities research 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, Eaton has an average rating of “Moderate Buy” and a consensus price target of $366.05.

Eaton Stock Down 0.2 %

Shares of ETN opened at $308.95 on Friday. Eaton Co. plc has a 52-week low of $255.65 and a 52-week high of $379.99. The company has a market capitalization of $122.10 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05. The stock has a fifty day simple moving average of $333.15 and a two-hundred day simple moving average of $331.88. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the prior year, the business posted $2.55 earnings per share. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 EPS for the current year.

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.