B. Riley Wealth Advisors Inc. Acquires 1,057 Shares of Eaton Co. plc (NYSE:ETN)

B. Riley Wealth Advisors Inc. grew its holdings in shares of Eaton Co. plc (NYSE:ETN) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,990 shares of the industrial products company’s stock after acquiring an additional 1,057 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Eaton were worth $5,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management boosted its position in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 277 shares during the period. Pinnbrook Capital Management LP purchased a new position in Eaton in the 4th quarter worth approximately $15,109,000. Congress Wealth Management LLC DE boosted its stake in shares of Eaton by 8.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 76,731 shares of the industrial products company’s stock valued at $18,479,000 after purchasing an additional 5,725 shares during the period. Pacer Advisors Inc. increased its stake in shares of Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after buying an additional 7,964 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of Eaton during the fourth quarter valued at about $1,001,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ETN has been the subject of several research reports. Mizuho restated a “buy” rating and issued a $355.00 price objective (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $250.00 to $300.00 in a report on Tuesday, April 2nd. Bank of America raised their target price on Eaton from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Argus increased their price objective on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Berenberg Bank upped their target price on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and an average price target of $314.27.

Eaton Price Performance

NYSE ETN opened at $325.41 on Tuesday. The stock has a market cap of $130.10 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 2.67 and a beta of 1.04. Eaton Co. plc has a 12 month low of $189.26 and a 12 month high of $345.19. The company’s 50 day moving average is $323.98 and its two-hundred day moving average is $287.44. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

Eaton (NYSE:ETN) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.12. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.91 billion. Eaton had a net margin of 14.38% and a return on equity of 20.69%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. As a group, research analysts anticipate that Eaton Co. plc will post 10.56 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 3rd. Eaton’s payout ratio is presently 44.39%.

Insiders Place Their Bets

In related news, insider Peter Denk sold 2,416 shares of Eaton stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $331.84, for a total value of $801,725.44. Following the completion of the transaction, the insider now owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% 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.