Meiji Yasuda Life Insurance Co Has $15.99 Million Stock Holdings in Eaton Co. plc (NYSE:ETN)

Meiji Yasuda Life Insurance Co grew its position in Eaton Co. plc (NYSE:ETN) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,186 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Eaton makes up 0.3% of Meiji Yasuda Life Insurance Co’s portfolio, making the stock its 27th largest position. Meiji Yasuda Life Insurance Co’s holdings in Eaton were worth $15,991,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. South Plains Financial Inc. acquired a new position in Eaton in the fourth quarter valued at about $265,000. FAS Wealth Partners Inc. lifted its holdings in shares of Eaton by 3.8% during the 4th quarter. FAS Wealth Partners Inc. now owns 12,175 shares of the industrial products company’s stock valued at $4,041,000 after purchasing an additional 448 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Eaton by 1,202.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 195,753 shares of the industrial products company’s stock valued at $64,965,000 after purchasing an additional 180,725 shares during the period. Parvin Asset Management LLC bought a new stake in Eaton during the 4th quarter worth approximately $176,000. Finally, Headland Capital LLC acquired a new stake in Eaton during the 4th quarter worth approximately $234,000. Institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN opened at $302.07 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a 50-day moving average of $280.96 and a 200-day moving average of $322.02. The company has a market cap of $118.34 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping 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 firm earned $2.55 EPS. As a group, equities analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Monday, May 5th. Eaton’s dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Eaton from $350.00 to $289.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price for the company. in a report on Tuesday, January 28th. KeyCorp cut their price target on Eaton from $340.00 to $325.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded Eaton from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Evercore ISI reduced their price target on Eaton from $382.00 to $326.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Eaton has an average rating of “Moderate Buy” and an average price target of $350.22.

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.