Nicholas Hoffman & Company LLC. Has $448,000 Stock Position in Eaton Co. plc (NYSE:ETN)

Nicholas Hoffman & Company LLC. lowered its position in shares of Eaton Co. plc (NYSE:ETN) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,350 shares of the industrial products company’s stock after selling 82 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Eaton were worth $448,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Resonant Capital Advisors LLC boosted its position in shares of Eaton by 2.3% in the third quarter. Resonant Capital Advisors LLC now owns 1,914 shares of the industrial products company’s stock worth $634,000 after buying an additional 43 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Eaton in the 3rd quarter worth about $417,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Eaton by 19.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 157,615 shares of the industrial products company’s stock valued at $52,240,000 after purchasing an additional 25,843 shares during the period. Godsey & Gibb Inc. boosted its holdings in shares of Eaton by 2.3% during the third quarter. Godsey & Gibb Inc. now owns 79,066 shares of the industrial products company’s stock worth $26,206,000 after purchasing an additional 1,793 shares during the period. Finally, 1858 Wealth Management LLC grew its position in Eaton by 65.4% during the third quarter. 1858 Wealth Management LLC now owns 2,018 shares of the industrial products company’s stock valued at $669,000 after purchasing an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Insider Transactions at Eaton

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now directly owns 43,203 shares in the company, valued at approximately $15,379,403.94. This represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ETN has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Bank of America increased their price objective on Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group boosted their target price on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada cut their price target on Eaton from $407.00 to $405.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Mizuho boosted their price target on Eaton from $365.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average target price of $369.20.

Eaton Stock Up 0.5 %

NYSE ETN opened at $309.21 on Tuesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $122.20 billion, a PE ratio of 32.55, a PEG ratio of 2.37 and a beta of 1.05. The firm has a 50-day simple moving average of $337.21 and a 200 day simple moving average of $331.89.

Eaton (NYSE:ETN) last issued its earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period last year, the business earned $2.55 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 12.04 EPS for the current year.

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.