Trust Co. of Oklahoma Makes New Investment in Eaton Co. plc (NYSE:ETN)

Trust Co. of Oklahoma bought a new position in shares of Eaton Co. plc (NYSE:ETN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,989 shares of the industrial products company's stock, valued at approximately $541,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Eaton in the 4th quarter valued at about $1,495,582,000. GAMMA Investing LLC boosted its position in shares of Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock worth $976,772,000 after acquiring an additional 3,580,198 shares in the last quarter. Capital International Investors bought a new position in Eaton in the fourth quarter valued at approximately $523,541,000. Proficio Capital Partners LLC raised its position in Eaton by 42,255.3% during the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company's stock valued at $243,036,000 after purchasing an additional 730,594 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in Eaton during the fourth quarter worth $231,552,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETN has been the topic of several recent analyst reports. BNP Paribas began coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Royal Bank of Canada raised their target price on shares of Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Evercore ISI raised their price objective on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Jefferies Financial Group lowered their target price on Eaton from $390.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Finally, BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Eaton presently has an average rating of "Moderate Buy" and a consensus price target of $368.78.

Insider Activity at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 103,486 shares of Eaton stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Down 0.5%

Eaton stock traded down $1.48 during mid-day trading on Tuesday, reaching $324.33. The stock had a trading volume of 1,882,117 shares, compared to its average volume of 2,642,467. The firm has a market capitalization of $126.91 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The stock's 50-day simple moving average is $298.94 and its 200-day simple moving average is $315.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.25% and a return on equity of 22.62%. Eaton's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 EPS. On average, sell-side analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is currently 41.98%.

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.