Twin Capital Management Inc. Grows Stock Position in Eaton Corporation, PLC (NYSE:ETN)

Twin Capital Management Inc. lifted 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 disclosure with the Securities and Exchange Commission. The firm owned 15,327 shares of the industrial products company's stock after purchasing an additional 9,300 shares during the period. Twin Capital Management Inc.'s holdings in Eaton were worth $4,166,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Capital A Wealth Management LLC purchased a new position in shares of Eaton in the 4th quarter worth $26,000. Creative Financial Designs Inc. ADV increased its position in shares of Eaton by 102.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Eaton during the 4th quarter valued at approximately $33,000. Vermillion Wealth Management Inc. purchased a new stake in Eaton in the fourth quarter valued at $33,000. Finally, Abound Wealth Management grew its position in Eaton by 73.8% during the first quarter. Abound Wealth Management now owns 146 shares of the industrial products company's stock valued at $40,000 after buying an additional 62 shares during the period. 82.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider directly owned 3,382 shares of the company's stock, valued at $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the insider owned 490,208 shares of the company's stock, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 in the last three months. Insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of ETN stock traded up $6.33 during midday trading on Wednesday, reaching $378.98. 1,119,455 shares of the company were exchanged, compared to its average volume of 2,659,597. The company's 50 day moving average price is $339.29 and its two-hundred day moving average price is $314.57. The company has a market cap of $148.30 billion, a P/E ratio of 38.28, a PEG ratio of 2.82 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.31. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $384.51.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 earnings per share. On average, sell-side analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETN. The Goldman Sachs Group lifted their price objective on shares of Eaton from $345.00 to $382.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley lowered their price objective on shares of Eaton from $385.00 to $375.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. BNP Paribas assumed coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target on the stock. Royal Bank Of Canada raised their target price on Eaton from $336.00 to $356.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, BNP Paribas Exane initiated coverage on Eaton in a research note on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price on the stock. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.