Ifrah Financial Services Inc. Sells 344 Shares of Eaton Co. plc (NYSE:ETN)

Ifrah Financial Services Inc. lessened its stake in Eaton Co. plc (NYSE:ETN) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,963 shares of the industrial products company’s stock after selling 344 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Eaton were worth $1,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETN. FMR LLC raised its stake in Eaton by 36.0% during the third quarter. FMR LLC now owns 19,921,979 shares of the industrial products company’s stock valued at $4,248,960,000 after purchasing an additional 5,270,331 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Eaton during the 3rd quarter valued at about $340,500,000. Deutsche Bank AG lifted its holdings in shares of Eaton by 97.5% in the 3rd quarter. Deutsche Bank AG now owns 1,860,312 shares of the industrial products company’s stock valued at $396,767,000 after acquiring an additional 918,422 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in Eaton in the third quarter worth about $67,305,000. Finally, International Assets Investment Management LLC increased its stake in Eaton by 21,664.8% during the fourth quarter. International Assets Investment Management LLC now owns 316,242 shares of the industrial products company’s stock worth $76,157,000 after acquiring an additional 314,789 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho reaffirmed a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. HSBC boosted their price objective on shares of Eaton from $240.00 to $280.00 and gave the company a “hold” rating in a research report on Friday. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $286.00 to $371.00 in a research note on Friday, April 5th. Finally, Barclays upgraded shares of Eaton from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $250.00 to $300.00 in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

Eaton Stock Up 2.0 %

Eaton stock traded up $6.15 during midday trading on Friday, hitting $320.50. 1,769,790 shares of the company’s stock were exchanged, compared to its average volume of 2,741,837. Eaton Co. plc has a 12 month low of $165.24 and a 12 month high of $333.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.02 and a current ratio of 1.56. The company has a market cap of $128.14 billion, a PE ratio of 37.84, a P/E/G ratio of 2.54 and a beta of 1.06. The firm has a 50-day moving average of $308.68 and a two-hundred day moving average of $261.94.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. Eaton’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. As a group, analysts expect that Eaton Co. plc will post 10.45 earnings per share for the current fiscal year.

Eaton Announces Dividend

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

Insiders Place Their Bets

In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the completion of the sale, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Olivier Leonetti sold 4,461 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now directly owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at approximately $20,244,140.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.53% of the stock is owned by corporate insiders.

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.