Eaton Co. plc (NYSE:ETN) Holdings Boosted by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Eaton Co. plc (NYSE:ETN) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,780 shares of the industrial products company’s stock after purchasing an additional 220 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Eaton were worth $11,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ETN. United Bank acquired a new position in Eaton in the 3rd quarter valued at approximately $258,000. Meridian Wealth Management LLC grew its stake in shares of Eaton by 16.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,005 shares of the industrial products company’s stock valued at $665,000 after buying an additional 283 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in Eaton by 92.7% in the third quarter. Great Valley Advisor Group Inc. now owns 8,433 shares of the industrial products company’s stock worth $2,795,000 after acquiring an additional 4,056 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Eaton by 2.1% during the 3rd quarter. Penserra Capital Management LLC now owns 2,116 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 43 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in shares of Eaton by 61.6% during the 3rd quarter. Centaurus Financial Inc. now owns 1,978 shares of the industrial products company’s stock valued at $655,000 after purchasing an additional 754 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Trading Up 2.7 %

Shares of Eaton stock opened at $303.41 on Tuesday. The company’s fifty day moving average price is $310.56 and its two-hundred day moving average price is $331.79. The firm has a market capitalization of $118.87 billion, a PE ratio of 31.94, a price-to-earnings-growth 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 debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96.

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

Eaton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $1.04 dividend. This is an increase from Eaton’s previous quarterly dividend of $0.94. This represents a $4.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, March 10th. Eaton’s payout ratio is presently 43.79%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ETN. KeyCorp upgraded shares of Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective for the company in a report on Wednesday, March 12th. Melius Research reissued a “hold” rating and set a $373.00 price objective on shares of Eaton in a report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group lowered their price target on Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Finally, Wells Fargo & Company reduced 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 note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.68.

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.