Bokf Na Sells 3,058 Shares of Eaton Co. plc (NYSE:ETN)

Bokf Na trimmed its position in Eaton Co. plc (NYSE:ETN) by 24.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,268 shares of the industrial products company’s stock after selling 3,058 shares during the quarter. Bokf Na’s holdings in Eaton were worth $2,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ETN. Norges Bank bought a new stake in Eaton in the fourth quarter valued at $1,087,983,000. Capital World Investors lifted its position in Eaton by 323.8% during the first quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock valued at $998,255,000 after buying an additional 2,439,270 shares during the period. Jennison Associates LLC lifted its position in Eaton by 2,857.4% during the first quarter. Jennison Associates LLC now owns 1,262,479 shares of the industrial products company’s stock valued at $394,752,000 after buying an additional 1,219,790 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Eaton by 2,006.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 964,728 shares of the industrial products company’s stock worth $232,326,000 after purchasing an additional 918,936 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Eaton by 207.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 970,426 shares of the industrial products company’s stock worth $233,698,000 after buying an additional 654,855 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Up 0.3 %

Shares of NYSE ETN traded up $0.85 during midday trading on Monday, reaching $298.64. 321,895 shares of the company’s stock were exchanged, compared to its average volume of 2,054,175. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.56. The stock has a market capitalization of $119.40 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 2.49 and a beta of 1.02. Eaton Co. plc has a 52-week low of $191.82 and a 52-week high of $345.19. The business’s fifty day moving average price is $322.30 and its two-hundred day moving average price is $304.13.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.12. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.91 billion. Eaton had a return on equity of 20.69% and a net margin of 14.38%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. Analysts forecast that Eaton Co. plc will post 10.56 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.26%. The ex-dividend date is Monday, August 5th. Eaton’s dividend payout ratio (DPR) is currently 44.39%.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Barclays boosted their price target on Eaton from $316.00 to $318.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on Eaton from $279.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Mizuho reissued a “buy” rating and set a $355.00 price target (up previously from $340.00) on shares of Eaton in a research report on Wednesday, May 1st. Jefferies Financial Group raised their price objective on Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Wolfe Research reissued an “underperform” rating and issued a $312.00 price target on shares of Eaton in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Eaton currently has a consensus rating of “Moderate Buy” and an average price target of $323.06.

Insider Buying and Selling at Eaton

In other news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares of the company’s stock, valued at $1,687,738.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

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.