Summerhill Capital Management lnc. Boosts Holdings in Eaton Co. plc (NYSE:ETN)

Summerhill Capital Management lnc. boosted its position in shares of Eaton Co. plc (NYSE:ETN) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,865 shares of the industrial products company’s stock after buying an additional 342 shares during the quarter. Eaton accounts for approximately 3.4% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 15th largest position. Summerhill Capital Management lnc.’s holdings in Eaton were worth $4,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC boosted its stake in shares of Eaton by 17.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,830 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 271 shares during the period. Private Advisor Group LLC boosted its stake in shares of Eaton by 16.7% during the third quarter. Private Advisor Group LLC now owns 38,564 shares of the industrial products company’s stock valued at $12,782,000 after purchasing an additional 5,508 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Eaton by 31.0% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 2,716 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 643 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Eaton by 27,075.5% during the third 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 purchasing an additional 1,070,024 shares during the period. Finally, YHB Investment Advisors Inc. boosted its stake in shares of Eaton by 18.8% during the third quarter. YHB Investment Advisors Inc. now owns 14,859 shares of the industrial products company’s stock valued at $4,925,000 after purchasing an additional 2,351 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Eaton Stock Performance

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 quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market cap of $122.10 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.05. The firm’s 50-day moving average price is $333.15 and its 200-day moving average price is $331.88.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $2.55 EPS. As a group, equities analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the transaction, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 31,200 shares in the company, valued at approximately $11,811,696. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ETN. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Melius lowered shares of Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Bank of America upped their price objective on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price objective on shares of 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 analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $366.05.

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.