Meeder Advisory Services Inc. Grows Stake in Eaton Co. plc (NYSE:ETN)

Meeder Advisory Services Inc. increased its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,734 shares of the industrial products company’s stock after acquiring an additional 261 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Eaton were worth $4,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Bank acquired a new stake in shares of Eaton during the third quarter worth about $258,000. Edgestream Partners L.P. increased its position in Eaton by 16.5% during the third quarter. Edgestream Partners L.P. now owns 2,318 shares of the industrial products company’s stock worth $768,000 after buying an additional 329 shares during the period. Benjamin Edwards Inc. purchased a new stake in Eaton in the third quarter valued at approximately $3,371,000. Ascent Group LLC lifted its stake in Eaton by 537.5% in the third quarter. Ascent Group LLC now owns 5,049 shares of the industrial products company’s stock valued at $1,673,000 after buying an additional 4,257 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in shares of Eaton in the third quarter valued at approximately $2,972,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Stock Up 1.8 %

Shares of NYSE ETN opened at $276.77 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $302.79 and a 200 day moving average price of $331.23. Eaton Co. plc has a 52 week low of $255.65 and a 52 week high of $379.99. The stock has a market capitalization of $108.43 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, topping the consensus estimate 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 quarter last year, the business posted $2.55 EPS. Equities research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ETN. Barclays reduced their price target on shares of Eaton from $325.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada reduced their target price on shares of Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Melius lowered Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a report on Tuesday, January 28th. Jefferies Financial Group reduced their price objective on Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company lowered their target price on Eaton from $335.00 to $305.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.16.

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.