Vivid Wealth Management LLC Takes $2.13 Million Position in Eaton Co. plc (NYSE:ETN)

Vivid Wealth Management LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,426 shares of the industrial products company’s stock, valued at approximately $2,133,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Eaton by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,069,341 shares of the industrial products company’s stock valued at $2,665,342,000 after buying an additional 56,516 shares during the period. Franklin Resources Inc. boosted its stake in shares of Eaton by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,421,626 shares of the industrial products company’s stock valued at $836,938,000 after buying an additional 316,830 shares during the period. Janus Henderson Group PLC lifted its stake in Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Eaton by 253.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,273,685 shares of the industrial products company’s stock worth $753,590,000 after purchasing an additional 1,629,856 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Eaton by 1.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,436,051 shares of the industrial products company’s stock worth $476,582,000 after purchasing an additional 13,862 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.5 %

NYSE:ETN opened at $309.21 on Friday. The firm has a market cap of $122.20 billion, a P/E ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $338.45 and its 200-day simple moving average is $331.30. Eaton Co. plc has a 12-month low of $255.65 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter last year, the firm earned $2.55 EPS. Equities analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ETN shares. Bank of America boosted their target price on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup decreased their target price on Eaton from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $369.20.

Insider Buying and Selling

In related news, Director Gregory R. Page sold 10,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the transaction, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the transaction, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

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.