Baker Ellis Asset Management LLC Purchases New Holdings in Eaton Co. plc (NYSE:ETN)

Baker Ellis Asset Management LLC purchased a new stake in shares of Eaton Co. plc (NYSE:ETN) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,545 shares of the industrial products company’s stock, valued at approximately $2,866,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Eaton during the fourth quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton in the 4th quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Eaton in the 4th quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Eaton in the 4th quarter valued at approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Eaton from $306.00 to $323.00 and gave the company an “equal weight” rating in a research note on Monday. BNP Paribas Exane assumed coverage on Eaton in a research note on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective on the stock. Royal Bank of Canada upped their price objective on Eaton from $336.00 to $356.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. increased their price target on Eaton from $300.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Finally, Morgan Stanley decreased their price target on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $368.78.

Eaton Stock Up 0.4%

NYSE:ETN opened at $325.56 on Thursday. The stock’s fifty day moving average price is $301.79 and its two-hundred day moving average price is $315.72. Eaton Co. plc has a 52-week low of $231.85 and a 52-week high of $379.99. 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 cap of $127.39 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.64 and a beta of 1.16.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.40 EPS. On average, analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, May 5th. Eaton’s dividend payout ratio (DPR) is currently 41.98%.

Insider Activity

In related news, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares of the company’s stock, valued at approximately $1,004,014.34. This trade represents 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 firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider now directly owns 490,208 shares in the company, valued at $158,214,632. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. 0.30% of the stock is owned by company insiders.

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.