Bokf Na Buys 826 Shares of Eaton Co. plc (NYSE:ETN)

Bokf Na grew its stake in Eaton Co. plc (NYSE:ETN) by 8.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,094 shares of the industrial products company’s stock after purchasing an additional 826 shares during the period. Bokf Na’s holdings in Eaton were worth $3,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ETN. Qsemble Capital Management LP purchased a new position in Eaton during the second quarter worth $5,546,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Eaton by 40.4% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 330 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 95 shares during the period. Trifecta Capital Advisors LLC grew its holdings in Eaton by 17.6% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 15,075 shares of the industrial products company’s stock valued at $4,727,000 after purchasing an additional 2,261 shares during the last quarter. Wellington Shields & Co. LLC raised its position in Eaton by 49.1% in the 2nd quarter. Wellington Shields & Co. LLC now owns 2,050 shares of the industrial products company’s stock worth $643,000 after purchasing an additional 675 shares during the period. Finally, LPL Financial LLC lifted its stake in Eaton by 17.7% in the second quarter. LPL Financial LLC now owns 477,275 shares of the industrial products company’s stock worth $149,650,000 after purchasing an additional 71,740 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, 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 transaction of $96,721.20. Following the transaction, the insider now directly owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The shares were 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 in the company, valued at approximately $2,858,328. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heath B. Monesmith sold 49,040 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares in the company, valued at approximately $21,451,287.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,511 shares of company stock worth $15,809,326. Insiders own 0.53% of the company’s stock.

Eaton Price Performance

Shares of ETN stock opened at $305.67 on Friday. The company has a market cap of $121.69 billion, a P/E ratio of 36.09, a PEG ratio of 2.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The stock’s 50-day moving average is $300.56 and its 200 day moving average is $311.46. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19.

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, beating analysts’ consensus estimates of $2.61 by $0.12. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. Research analysts predict that Eaton Co. plc will post 10.74 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s payout ratio is presently 44.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ETN. Barclays upped their target price on Eaton from $318.00 to $319.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Royal Bank of Canada reduced their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Raymond James lowered their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Morgan Stanley assumed coverage on shares of Eaton in a report on Friday, September 6th. They set an “overweight” rating and a $370.00 price objective for the company. Finally, Evercore ISI dropped their target price on shares of Eaton from $357.00 to $333.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $335.18.

Eaton Company 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.