Meridian Wealth Management LLC Purchases 966 Shares of Eaton Co. plc (NYSE:ETN)

Meridian Wealth Management LLC increased its stake in shares of Eaton Co. plc (NYSE:ETN) by 48.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,971 shares of the industrial products company’s stock after acquiring an additional 966 shares during the quarter. Meridian Wealth Management LLC’s holdings in Eaton were worth $986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Noble Wealth Management PBC bought a new position in Eaton during the fourth quarter worth $30,000. Groupama Asset Managment increased its position in Eaton by 83.2% during the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 4,298 shares during the period. Horizon Bancorp Inc. IN increased its position in Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 74 shares during the period. Morse Asset Management Inc bought a new position in Eaton during the third quarter worth $33,000. Finally, Activest Wealth Management increased its position in Eaton by 621.4% during the fourth quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 87 shares during the period. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Up 0.2 %

NYSE:ETN opened at $278.94 on Wednesday. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. 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 business has a 50 day moving average price of $324.45 and a two-hundred day moving average price of $332.49. The company has a market cap of $110.24 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 2.64 and a beta of 1.05.

Eaton (NYSE:ETN) last released its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 EPS for the quarter, beating 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 period in the prior year, the firm posted $2.55 earnings per share. As a group, analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently disclosed 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 represents a $4.16 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, March 10th. This is an increase from Eaton’s previous quarterly dividend of $0.94. Eaton’s dividend payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

ETN has been the topic of several analyst reports. Melius lowered shares of 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. Barclays lowered their price target on shares of Eaton from $353.00 to $325.00 and set an “equal weight” rating on the stock in a report on Monday. Jefferies Financial Group boosted their price target on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a report on Friday, December 6th. Melius Research reissued a “hold” rating and issued a $373.00 price target on shares of Eaton in a report on Tuesday, January 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $364.65.

Insider Buying and Selling at Eaton

In other Eaton news, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Eaton Company 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.