Vivid Wealth Management LLC Acquires 894 Shares of Eaton Corporation, PLC (NYSE:ETN)

Vivid Wealth Management LLC lifted its holdings in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 13.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,320 shares of the industrial products company's stock after purchasing an additional 894 shares during the quarter. Vivid Wealth Management LLC's holdings in Eaton were worth $1,990,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Eaton by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 37,217,906 shares of the industrial products company's stock worth $12,351,506,000 after buying an additional 99,291 shares during the period. FMR LLC raised its position in Eaton by 1.2% in the 4th quarter. FMR LLC now owns 15,222,248 shares of the industrial products company's stock valued at $5,051,807,000 after buying an additional 182,455 shares during the last quarter. Geode Capital Management LLC boosted its position in Eaton by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 8,198,412 shares of the industrial products company's stock worth $2,714,677,000 after acquiring an additional 129,071 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Eaton by 4.3% during the 4th quarter. Nuveen Asset Management LLC now owns 4,671,185 shares of the industrial products company's stock worth $1,550,226,000 after acquiring an additional 192,482 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Eaton by 8.8% in the fourth quarter. Northern Trust Corp now owns 4,574,704 shares of the industrial products company's stock valued at $1,518,207,000 after purchasing an additional 368,241 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

ETN has been the topic of a number of research reports. Evercore ISI boosted their price objective on shares of Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Barclays boosted their price target on shares of Eaton from $306.00 to $323.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. increased their price objective on shares of Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. BNP Paribas Exane initiated coverage on Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $368.78.

Eaton Stock Performance

Shares of ETN stock traded up $3.41 during trading on Wednesday, reaching $333.92. 2,968,945 shares of the company's stock were exchanged, compared to its average volume of 2,647,971. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The firm's fifty day moving average price is $307.46 and its 200-day moving average price is $314.08. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $130.66 billion, a PE ratio of 33.70, a PEG ratio of 2.56 and a beta of 1.16.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 earnings per share. As a group, sell-side analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

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.