Meeder Advisory Services Inc. Raises Stock Position in Eaton Co. plc (NYSE:ETN)

Meeder Advisory Services Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,734 shares of the industrial products company’s stock after purchasing an additional 261 shares during the period. Meeder Advisory Services Inc.’s holdings in Eaton were worth $4,558,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ETN. Norges Bank acquired a new stake in Eaton in the 4th quarter worth about $1,495,582,000. Proficio Capital Partners LLC boosted its stake in shares of Eaton by 42,255.3% in the fourth quarter. Proficio Capital Partners LLC now owns 732,323 shares of the industrial products company’s stock worth $243,036,000 after acquiring an additional 730,594 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Eaton by 32.8% during the third quarter. Janus Henderson Group PLC now owns 2,419,200 shares of the industrial products company’s stock worth $801,798,000 after purchasing an additional 597,700 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in Eaton by 390.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 539,673 shares of the industrial products company’s stock valued at $193,421,000 after purchasing an additional 429,701 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Eaton by 3,508.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 401,728 shares of the industrial products company’s stock valued at $133,321,000 after purchasing an additional 390,595 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $276.77 on Wednesday. The firm has a 50 day moving average of $302.79 and a two-hundred day moving average of $331.23. The stock has a market capitalization of $108.43 billion, a PE ratio of 29.13, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99.

Eaton (NYSE:ETN) last released its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same period last year, the firm earned $2.55 earnings per share. On average, research analysts predict that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $1.04 dividend. This is a boost from Eaton’s previous quarterly dividend of $0.94. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.50%. Eaton’s dividend payout ratio (DPR) is 43.79%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ETN. Jefferies Financial Group cut their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, March 12th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective on the stock. in a research report on Tuesday, January 28th. Royal Bank of Canada dropped their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company cut their price objective on shares of Eaton from $335.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $357.16.

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.