Meeder Asset Management Inc. Buys 137 Shares of Eaton Co. plc (NYSE:ETN)

Meeder Asset Management Inc. boosted its stake in Eaton Co. plc (NYSE:ETN) by 210.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202 shares of the industrial products company’s stock after acquiring an additional 137 shares during the period. Meeder Asset Management Inc.’s holdings in Eaton were worth $67,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETN. Flagship Wealth Advisors LLC bought a new position in Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton in the 4th quarter worth about $30,000. Groupama Asset Managment lifted its stake in shares of Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in Eaton in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 1.8 %

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

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 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 quarter in the prior year, the business earned $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $1.04 per share. The ex-dividend date was Monday, March 10th. This represents a $4.16 annualized dividend and a yield of 1.50%. This is a positive change from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 43.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on ETN. Barclays reduced their price objective 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. KeyCorp raised shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada reduced their price objective on Eaton from $405.00 to $376.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton has a consensus rating of “Moderate Buy” and an average price target of $357.16.

About Eaton

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.