Twin Capital Management Inc. Has $4.17 Million Position in Eaton Corporation, PLC (NYSE:ETN)

Twin Capital Management Inc. raised its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 154.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,327 shares of the industrial products company's stock after purchasing an additional 9,300 shares during the quarter. Twin Capital Management Inc.'s holdings in Eaton were worth $4,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Eaton in the fourth quarter valued at $1,495,582,000. GAMMA Investing LLC lifted its holdings in shares of Eaton by 27,281.9% during the 1st quarter. GAMMA Investing LLC now owns 3,593,321 shares of the industrial products company's stock valued at $976,772,000 after purchasing an additional 3,580,198 shares during the last quarter. Capital International Investors purchased a new stake in shares of Eaton during the 4th quarter valued at $523,541,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Eaton during the fourth quarter valued at about $231,552,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Eaton by 24.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,007,570 shares of the industrial products company's stock valued at $998,144,000 after acquiring an additional 588,370 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last 90 days. 0.30% of the stock is currently owned by insiders.

Eaton Stock Performance

NYSE ETN traded down $0.39 during trading hours on Tuesday, reaching $373.27. The company's stock had a trading volume of 1,265,525 shares, compared to its average volume of 2,662,124. Eaton Corporation, PLC has a 52 week low of $231.85 and a 52 week high of $384.51. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $339.29 and a 200 day simple moving average of $314.57. The stock has a market cap of $146.06 billion, a PE ratio of 37.69, a PEG ratio of 2.86 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The business had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The company's revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. KeyCorp increased their price target on shares of Eaton from $355.00 to $410.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded Eaton from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. raised their price objective on shares of Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Wells Fargo & Company increased their target price on Eaton from $310.00 to $360.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $396.00 price target on shares of Eaton in a report on Monday, July 14th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $377.89.

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.