Baker Ellis Asset Management LLC Purchases Shares of 10,545 Eaton Co. plc (NYSE:ETN)

Baker Ellis Asset Management LLC bought a new stake in Eaton Co. plc (NYSE:ETN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,545 shares of the industrial products company's stock, valued at approximately $2,866,000.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in shares of Eaton in the 4th quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the fourth quarter worth $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton during the fourth quarter worth $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton during the fourth quarter worth $33,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Eaton during the fourth quarter worth $33,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other Eaton news, insider Craig Arnold sold 51,054 shares of Eaton stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total transaction of $15,593,423.22. Following the completion of the transaction, the insider now directly owns 489,444 shares of the company's stock, valued at $149,490,880.92. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,660 shares of company stock valued at $49,622,894. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. KeyCorp lifted their price objective on Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen raised Eaton from a "hold" rating to a "buy" rating in a research note on Sunday, May 18th. JPMorgan Chase & Co. lifted their target price on Eaton from $300.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BNP Paribas Exane initiated coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Five equities research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $368.78.

Eaton Stock Up 1.3%

Shares of NYSE ETN traded up $4.38 during mid-day trading on Thursday, hitting $330.09. The company had a trading volume of 1,777,259 shares, compared to its average volume of 2,643,607. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $301.79 and a two-hundred day simple moving average of $315.72. The company has a market capitalization of $129.16 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a one year low of $231.85 and a one year high of $379.99.

Eaton (NYSE:ETN - Get Free Report) 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 firm had revenue of $6.38 billion during 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 business's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $2.40 earnings per share. On average, equities analysts expect that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, May 5th. Eaton's dividend payout ratio (DPR) is currently 41.98%.

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.