Enzi Wealth Has $707,000 Holdings in Eaton Co. plc (NYSE:ETN)

Enzi Wealth decreased its position in shares of Eaton Co. plc (NYSE:ETN) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,130 shares of the industrial products company’s stock after selling 985 shares during the period. Enzi Wealth’s holdings in Eaton were worth $707,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ascent Group LLC boosted its holdings in Eaton by 7.2% in the 2nd quarter. Ascent Group LLC now owns 792 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 53 shares during the period. Quarry LP bought a new stake in shares of Eaton in the second quarter valued at about $84,000. Dana Investment Advisors Inc. grew its position in Eaton by 1.4% during the second quarter. Dana Investment Advisors Inc. now owns 23,461 shares of the industrial products company’s stock worth $7,356,000 after buying an additional 334 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in Eaton during the second quarter valued at about $182,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Eaton in the 2nd quarter worth approximately $27,653,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Performance

Eaton stock opened at $317.90 on Thursday. Eaton Co. plc has a 1 year low of $245.65 and a 1 year high of $379.99. The company’s 50-day moving average is $351.98 and its two-hundred day moving average is $331.21. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a market cap of $125.63 billion, a PE ratio of 33.82, a PEG ratio of 2.57 and a beta of 1.06.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the business earned $2.47 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Eaton Co. plc will post 10.79 earnings per share for the current year.

Insider Activity at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated 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 sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Arnold sold 61,569 shares of Eaton stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This trade represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup cut 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. UBS Group began coverage on shares of Eaton in a research note on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective for the company. Royal Bank of Canada lifted their target price on shares of Eaton from $374.00 to $392.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Barclays increased their price target on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton has an average rating of “Moderate Buy” and an average price target of $369.30.

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.