Eaton Co. plc (NYSE:ETN) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its stake in shares of Eaton Co. plc (NYSE:ETN) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,637 shares of the industrial products company’s stock after selling 2,205 shares during the period. Yousif Capital Management LLC’s holdings in Eaton were worth $12,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETN. GAMMA Investing LLC purchased a new position in shares of Eaton during the 4th quarter worth approximately $1,469,000. Eudaimonia Advisors LLC lifted its holdings in Eaton by 34.9% during the 4th quarter. Eudaimonia Advisors LLC now owns 5,799 shares of the industrial products company’s stock worth $1,397,000 after buying an additional 1,499 shares during the last quarter. SlateStone Wealth LLC lifted its position in shares of Eaton by 2.4% during the 4th quarter. SlateStone Wealth LLC now owns 6,626 shares of the industrial products company’s stock worth $1,596,000 after buying an additional 155 shares during the last quarter. Marks Group Wealth Management Inc acquired a new position in Eaton in the fourth quarter valued at $7,443,000. Finally, Illinois Municipal Retirement Fund raised its position in Eaton by 1.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 49,947 shares of the industrial products company’s stock valued at $12,028,000 after purchasing an additional 579 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other news, insider Olivier Leonetti sold 4,461 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $272.00, for a total value of $1,213,392.00. Following the sale, the insider now directly owns 630 shares in the company, valued at approximately $171,360. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of the 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 sale, the insider now owns 630 shares of the company’s stock, valued at approximately $171,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the sale, the insider now owns 5,514 shares in the company, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,969 shares of company stock worth $10,904,774. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ETN has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. UBS Group boosted their target price on Eaton from $255.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Citigroup raised their price objective on Eaton from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their target price on shares of Eaton from $287.00 to $328.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Wolfe Research restated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $295.60.

Eaton Stock Performance

Shares of ETN stock traded up $4.85 on Wednesday, hitting $317.69. 2,475,280 shares of the stock were exchanged, compared to its average volume of 1,931,100. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47. The firm’s 50 day moving average is $302.20 and its two-hundred day moving average is $256.66. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $126.92 billion, a PE ratio of 39.02, a P/E/G ratio of 2.55 and a beta of 1.07.

Eaton (NYSE:ETN) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Eaton’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that Eaton Co. plc will post 10.28 earnings per share for the current fiscal year.

Eaton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.18%. Eaton’s dividend payout ratio (DPR) is presently 46.88%.

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.