Meeder Advisory Services Inc. Has $3.94 Million Stock Position in Eaton Corporation, PLC (NYSE:ETN)

Key Points

• Meeder Advisory Services Inc. increased its stake in Eaton Corporation by 5.4%, now holding 14,477 shares valued at approximately $3.93 million.
• GAMMA Investing LLC made a significant increase in its holdings by 27,281.9%, acquiring 3,580,198 additional shares, bringing its total to 3,593,321 shares worth around $976.77 million.
• Eaton recently reported earnings of $2.72 per share, exceeding expectations, with quarterly revenue of $6.38 billion, a **7.3%** increase year-over-year.

Meeder Advisory Services Inc. raised its stake in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,477 shares of the industrial products company's stock after acquiring an additional 743 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Eaton were worth $3,935,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Eaton by 1.4% in the 4th quarter. Brighton Jones LLC now owns 3,341 shares of the industrial products company's stock valued at $1,109,000 after purchasing an additional 45 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Eaton by 17.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 913 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 136 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Eaton in the 4th quarter valued at about $42,839,000. Allianz SE bought a new stake in Eaton in the 4th quarter valued at about $738,000. Finally, Schroder Investment Management Group lifted its position in Eaton by 14.0% in the 4th quarter. Schroder Investment Management Group now owns 269,203 shares of the industrial products company's stock valued at $89,478,000 after purchasing an additional 32,969 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Eaton Stock Down 0.0%

NYSE ETN traded down $0.02 during trading on Wednesday, reaching $389.99. The company's stock had a trading volume of 2,725,576 shares, compared to its average volume of 3,058,334. The business has a 50-day moving average price of $347.09 and a 200-day moving average price of $316.69. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Eaton Corporation, PLC has a 1-year low of $231.85 and a 1-year high of $399.56. The stock has a market capitalization of $152.60 billion, a PE ratio of 39.35, a PEG ratio of 2.96 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. Eaton's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 earnings per share. On average, research analysts forecast that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, August 7th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, August 7th. Eaton's payout ratio is currently 41.98%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Michael Yelton sold 2,120 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider owned 3,382 shares of the company's stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Arnold sold 103,486 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the sale, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,660 shares of company stock valued at $49,622,894. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

ETN has been the topic of several recent research reports. Evercore ISI lifted their price objective on shares of Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Royal Bank Of Canada boosted their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They set an "outperform" rating and a $380.00 price target on the stock. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $396.00 price objective on shares of Eaton in a research note on Monday, July 14th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.89.

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.