Vident Advisory LLC Has $4.29 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Vident Advisory LLC lifted its holdings in Eaton Co. plc (NYSE:ETN - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,910 shares of the industrial products company's stock after buying an additional 1,782 shares during the period. Vident Advisory LLC's holdings in Eaton were worth $4,285,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. St. Clair Advisors LLC purchased a new position in Eaton during the 4th quarter valued at about $4,574,000. Triglav Skladi D.O.O. purchased a new position in Eaton during the fourth quarter valued at approximately $13,800,000. Twinbeech Capital LP acquired a new position in Eaton in the 4th quarter valued at approximately $24,105,000. Temasek Holdings Private Ltd lifted its position in Eaton by 21.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 160,143 shares of the industrial products company's stock worth $53,147,000 after buying an additional 28,515 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Eaton by 200.8% during the 4th quarter. Tidal Investments LLC now owns 89,403 shares of the industrial products company's stock valued at $29,670,000 after buying an additional 59,681 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Stock Performance

Shares of ETN traded up $0.12 on Monday, reaching $321.19. 1,432,320 shares of the stock traded hands, compared to its average volume of 2,666,435. The stock's 50-day moving average price is $290.68 and its 200-day moving average price is $318.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $125.68 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 2.64 and a beta of 1.14. Eaton Co. plc has a 12 month low of $231.85 and a 12 month high of $379.99.

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

Eaton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, May 5th. Eaton's payout ratio is 41.98%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. KeyCorp upped their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Evercore ISI lifted their price target on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Melius Research reaffirmed a "hold" rating and issued a $373.00 price objective on shares of Eaton in a research note on Tuesday, January 28th. Wells Fargo & Company reiterated an "overweight" rating and set a $355.00 price target on shares of Eaton in a report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Eaton presently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

Insider Transactions at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the stock in a transaction dated 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 transaction, the insider now owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares of the company's stock, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock worth $49,622,894 in the last three months. Insiders own 0.30% of the company's stock.

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.