Eaton Co. plc (NYSE:ETN) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. raised its holdings in Eaton Co. plc (NYSE:ETN) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,852 shares of the industrial products company’s stock after acquiring an additional 535 shares during the quarter. Zions Bancorporation N.A.’s holdings in Eaton were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. KBC Group NV boosted its position in shares of Eaton by 89.8% in the 3rd quarter. KBC Group NV now owns 57,044 shares of the industrial products company’s stock valued at $18,906,000 after purchasing an additional 26,995 shares during the period. Bouvel Investment Partners LLC boosted its position in Eaton by 0.6% during the 3rd quarter. Bouvel Investment Partners LLC now owns 14,679 shares of the industrial products company’s stock worth $4,865,000 after acquiring an additional 85 shares during the period. Plato Investment Management Ltd grew its holdings in shares of Eaton by 21.4% during the 3rd quarter. Plato Investment Management Ltd now owns 14,010 shares of the industrial products company’s stock valued at $4,639,000 after acquiring an additional 2,466 shares in the last quarter. Cable Hill Partners LLC purchased a new stake in shares of Eaton during the 3rd quarter worth about $211,000. Finally, Schrum Private Wealth Management LLC bought a new position in Eaton during the third quarter valued at approximately $398,000. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at approximately $1,186,411.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Michael Yelton sold 3,136 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total value of $950,584.32. Following the sale, the insider now owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the transaction, the insider now owns 506,360 shares of the company’s stock, valued at $182,780,769.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,705 shares of company stock valued at $24,516,346 over the last 90 days. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ETN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $374.00 price target on shares of Eaton in a research report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Mizuho lifted their target price on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Citigroup initiated coverage on Eaton in a research note on Monday, September 16th. They issued a “buy” rating and a $348.00 target price for the company. Finally, UBS Group began coverage on shares of Eaton in a research report on Wednesday. They issued a “buy” rating and a $431.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Eaton currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.83.

Eaton Stock Performance

Shares of Eaton stock opened at $369.88 on Thursday. The firm has a 50 day simple moving average of $332.81 and a 200 day simple moving average of $320.84. Eaton Co. plc has a fifty-two week low of $223.87 and a fifty-two week high of $373.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The firm has a market cap of $146.18 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $2.47 EPS. Sell-side analysts predict that Eaton Co. plc will post 10.79 earnings per share for the current fiscal year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Monday, November 4th. Eaton’s dividend payout ratio is currently 40.00%.

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.