Meeder Asset Management Inc. Buys 42 Shares of Eaton Co. plc (NYSE:ETN)

Meeder Asset Management Inc. raised its stake in shares of Eaton Co. plc (NYSE:ETN) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,315 shares of the industrial products company’s stock after acquiring an additional 42 shares during the quarter. Meeder Asset Management Inc.’s holdings in Eaton were worth $317,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. PCA Investment Advisory Services Inc. bought a new position in Eaton during the second quarter worth about $27,000. Coppell Advisory Solutions Corp. bought a new position in shares of Eaton during the fourth quarter worth $30,000. Global Trust Asset Management LLC acquired a new stake in Eaton during the 3rd quarter worth $32,000. Valued Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth about $35,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Eaton in the fourth quarter worth about $35,000. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Peter Denk sold 1,731 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $288.97, for a total value of $500,207.07. Following the completion of the transaction, the insider now owns 5,514 shares of the company’s stock, valued at $1,593,380.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Olivier Leonetti sold 4,461 shares of Eaton 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 directly owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter Denk sold 1,731 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $288.97, for a total transaction of $500,207.07. Following the sale, the insider now directly owns 5,514 shares of the company’s stock, valued at approximately $1,593,380.58. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $10,904,774 in the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ETN shares. Wells Fargo & Company increased their target price on Eaton from $220.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Royal Bank of Canada raised shares of Eaton from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $371.00 in a research report on Friday. Evercore ISI increased their target price on Eaton from $262.00 to $308.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Wolfe Research restated an “underperform” rating on shares of Eaton in a report on Monday. Finally, Bank of America raised their target price on shares of Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and an average target price of $287.40.

Eaton Stock Down 1.4 %

NYSE ETN opened at $325.92 on Tuesday. Eaton Co. plc has a fifty-two week low of $155.38 and a fifty-two week high of $331.47. The business has a fifty day moving average price of $292.28 and a two-hundred day moving average price of $248.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.02. The stock has a market capitalization of $130.21 billion, a PE ratio of 40.64, a PEG ratio of 2.75 and a beta of 1.07.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. Eaton’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $2.06 earnings per share. Equities analysts expect that Eaton Co. plc will post 10.25 earnings per share for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Friday, March 8th. This is a boost from Eaton’s previous quarterly dividend of $0.86. Eaton’s payout ratio is presently 46.88%.

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.