Baker Ellis Asset Management LLC Makes New $2.87 Million Investment in Eaton Co. plc (NYSE:ETN)

Baker Ellis Asset Management LLC bought a new position in shares of Eaton Co. plc (NYSE:ETN) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,545 shares of the industrial products company’s stock, valued at approximately $2,866,000.

A number of other large investors have also recently added to or reduced their stakes in ETN. Focus Financial Network Inc. grew its holdings in shares of Eaton by 6.5% in the 1st quarter. Focus Financial Network Inc. now owns 1,744 shares of the industrial products company’s stock valued at $474,000 after acquiring an additional 106 shares in the last quarter. InTrack Investment Management Inc grew its holdings in shares of Eaton by 9.3% in the 1st quarter. InTrack Investment Management Inc now owns 7,341 shares of the industrial products company’s stock valued at $1,996,000 after acquiring an additional 624 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Eaton by 3.9% in the 1st quarter. Integrated Advisors Network LLC now owns 5,780 shares of the industrial products company’s stock valued at $1,571,000 after acquiring an additional 219 shares in the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of Eaton by 2.2% in the 1st quarter. Franklin Street Advisors Inc. NC now owns 48,191 shares of the industrial products company’s stock valued at $13,100,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Trueblood Wealth Management LLC grew its holdings in shares of Eaton by 13.3% in the 1st quarter. Trueblood Wealth Management LLC now owns 1,904 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 224 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In other news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,382 shares in the company, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 490,208 shares of the company’s stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,660 shares of company stock worth $49,622,894. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BNP Paribas Exane assumed coverage on Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price objective for the company. JPMorgan Chase & Co. boosted 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. 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. KeyCorp raised their price objective on Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised Eaton from a “hold” rating to a “buy” rating in a research report on Sunday, May 18th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $368.78.

Eaton Trading Up 0.4%

Shares of ETN stock opened at $325.56 on Thursday. The firm has a 50 day moving average price of $301.79 and a two-hundred day moving average price of $315.72. 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 company has a market capitalization of $127.39 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. Eaton Co. plc has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last released 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. Eaton had a net margin of 15.25% and a return on equity of 22.62%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts predict that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Announces Dividend

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

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.