Eaton Co. plc (NYSE:ETN) Shares Sold by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. reduced its stake in Eaton Co. plc (NYSE:ETN) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,963 shares of the industrial products company’s stock after selling 344 shares during the period. Ifrah Financial Services Inc.’s holdings in Eaton were worth $1,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. VeraBank N.A. lifted its stake in Eaton by 10.4% in the fourth quarter. VeraBank N.A. now owns 2,419 shares of the industrial products company’s stock valued at $583,000 after buying an additional 228 shares during the last quarter. Sapient Capital LLC purchased a new position in Eaton during the 4th quarter worth $273,000. Axxcess Wealth Management LLC raised its holdings in shares of Eaton by 10.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,256 shares of the industrial products company’s stock valued at $784,000 after buying an additional 309 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Eaton by 5.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 13,811 shares of the industrial products company’s stock worth $3,326,000 after buying an additional 689 shares during the last quarter. Finally, Horan Capital Advisors LLC. purchased a new stake in Eaton during the 4th quarter valued at approximately $211,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Peter Denk sold 1,731 shares of Eaton stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 19,750 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $273.17, for a total value of $5,395,107.50. Following the transaction, the insider now directly owns 29,712 shares in the company, valued at approximately $8,116,427.04. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

Eaton Price Performance

Shares of NYSE:ETN traded up $6.15 during midday trading on Friday, hitting $320.50. 1,769,790 shares of the stock were exchanged, compared to its average volume of 2,741,837. The stock has a market cap of $128.14 billion, a P/E ratio of 37.84, a PEG ratio of 2.54 and a beta of 1.06. Eaton Co. plc has a twelve month low of $165.24 and a twelve month high of $333.05. The company has a 50 day moving average price of $308.68 and a 200-day moving average price of $261.94. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.12. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. On average, research analysts forecast that Eaton Co. plc will post 10.45 earnings per share for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.94 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.17%. Eaton’s dividend payout ratio (DPR) is 44.39%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETN. Berenberg Bank increased their price target on Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Argus lifted their price objective on Eaton from $290.00 to $350.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI raised their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Citigroup upped their price objective on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $314.27.

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.