Twin Capital Management Inc. Sells 236 Shares of Eaton Co. plc (NYSE:ETN)

Twin Capital Management Inc. reduced its holdings in Eaton Co. plc (NYSE:ETN) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,047 shares of the industrial products company’s stock after selling 236 shares during the quarter. Twin Capital Management Inc.’s holdings in Eaton were worth $975,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Meeder Asset Management Inc. grew its position in shares of Eaton by 3.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,315 shares of the industrial products company’s stock worth $317,000 after buying an additional 42 shares during the last quarter. Amarillo National Bank boosted its position in shares of Eaton by 3.5% during the fourth quarter. Amarillo National Bank now owns 1,270 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 43 shares in the last quarter. Red Spruce Capital LLC boosted its position in shares of Eaton by 0.3% during the fourth quarter. Red Spruce Capital LLC now owns 17,522 shares of the industrial products company’s stock valued at $4,220,000 after purchasing an additional 45 shares in the last quarter. GSG Advisors LLC boosted its position in shares of Eaton by 2.1% during the fourth quarter. GSG Advisors LLC now owns 2,227 shares of the industrial products company’s stock valued at $519,000 after purchasing an additional 46 shares in the last quarter. Finally, Quent Capital LLC boosted its position in shares of Eaton by 3.8% during the fourth quarter. Quent Capital LLC now owns 1,334 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 49 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.4 %

Eaton stock opened at $308.94 on Friday. The stock has a market cap of $123.42 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.51. Eaton Co. plc has a one year low of $161.12 and a one year high of $331.47. The stock has a fifty day moving average of $300.20 and a 200 day moving average of $253.91.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. Eaton’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 1.22%. This is an increase from Eaton’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, March 8th. Eaton’s dividend payout ratio is presently 46.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ETN shares. Royal Bank of Canada upgraded Eaton from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $286.00 to $371.00 in a research report on Friday, April 5th. UBS Group lifted their price target on Eaton from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Evercore ISI lifted their price target on Eaton from $262.00 to $308.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Wolfe Research reiterated an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research note on Monday, April 8th. Finally, The Goldman Sachs Group lifted their price objective on Eaton from $287.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average target price of $295.60.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total value of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Eaton news, 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 transaction of $5,395,107.50. Following the sale, the insider now owns 29,712 shares of the company’s stock, valued at approximately $8,116,427.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Olivier Leonetti sold 4,461 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 38,969 shares of company stock valued at $10,904,774 over the last quarter. 0.53% of the stock is owned by corporate insiders.

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.