Zions Bancorporation N.A. Sells 592 Shares of Eaton Co. plc (NYSE:ETN)

Zions Bancorporation N.A. reduced its position in shares of Eaton Co. plc (NYSE:ETN) by 3.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,317 shares of the industrial products company’s stock after selling 592 shares during the quarter. Zions Bancorporation N.A.’s holdings in Eaton were worth $4,803,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ETN. RS Crum Inc. purchased a new stake in shares of Eaton in the second quarter valued at $201,000. Pinkerton Retirement Specialists LLC purchased a new stake in Eaton in the 2nd quarter worth about $270,000. Prevail Innovative Wealth Advisors LLC lifted its stake in Eaton by 14.1% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 6,413 shares of the industrial products company’s stock worth $2,011,000 after purchasing an additional 792 shares during the last quarter. Executive Wealth Management LLC boosted its position in shares of Eaton by 877.9% during the second quarter. Executive Wealth Management LLC now owns 8,459 shares of the industrial products company’s stock valued at $2,652,000 after buying an additional 7,594 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in shares of Eaton by 39.6% during the second quarter. Meeder Advisory Services Inc. now owns 13,488 shares of the industrial products company’s stock valued at $4,229,000 after buying an additional 3,828 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity at Eaton

In related news, insider Michael Yelton sold 3,136 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was 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 in the company, valued at $1,186,411.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Michael Yelton sold 3,136 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $303.12, for a total transaction of $950,584.32. Following the sale, the insider now directly owns 3,914 shares of the company’s stock, valued at $1,186,411.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy C. Thompson bought 2,205 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $300.30 per share, for a total transaction of $662,161.50. Following the completion of the purchase, the director now owns 2,205 shares in the company, valued at $662,161.50. The disclosure for this purchase can be found here. Insiders have sold a total of 52,511 shares of company stock valued at $15,809,326 in the last ninety days. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ETN shares. Evercore ISI dropped their price objective on Eaton from $357.00 to $333.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Wells Fargo & Company cut their price target on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Eaton from $370.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays upped their target price on shares of Eaton from $318.00 to $319.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $335.18.

Eaton Trading Up 2.1 %

NYSE ETN opened at $303.39 on Friday. The firm has a market cap of $120.78 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $300.80 and a 200 day moving average price of $311.32.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, sell-side analysts forecast that Eaton Co. plc will post 10.74 EPS for the current fiscal year.

Eaton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

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.