B. Riley Wealth Advisors Inc. Increases Stock Position in Eaton Co. plc (NYSE:ETN)

B. Riley Wealth Advisors Inc. boosted its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,809 shares of the industrial products company's stock after acquiring an additional 5,703 shares during the quarter. Eaton accounts for 0.5% of B. Riley Wealth Advisors Inc.'s holdings, making the stock its 29th largest position. B. Riley Wealth Advisors Inc.'s holdings in Eaton were worth $15,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Lighthouse Wealth Management Inc. acquired a new stake in Eaton in the 4th quarter valued at $297,000. Bearing Point Capital LLC acquired a new stake in shares of Eaton in the fourth quarter valued at about $2,713,000. Webster Bank N. A. increased its stake in shares of Eaton by 52.4% during the fourth quarter. Webster Bank N. A. now owns 17,925 shares of the industrial products company's stock worth $5,949,000 after purchasing an additional 6,166 shares in the last quarter. Blue Trust Inc. raised its position in shares of Eaton by 13.2% during the 4th quarter. Blue Trust Inc. now owns 14,494 shares of the industrial products company's stock worth $4,804,000 after purchasing an additional 1,694 shares during the last quarter. Finally, New England Research & Management Inc. lifted its stake in Eaton by 128.3% in the 4th quarter. New England Research & Management Inc. now owns 3,069 shares of the industrial products company's stock valued at $1,019,000 after buying an additional 1,725 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Craig Arnold sold 103,486 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $322.75, for a total transaction of $33,400,106.50. Following the completion of the transaction, the insider now directly owns 490,208 shares of the company's stock, valued at approximately $158,214,632. This represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This trade represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,660 shares of company stock worth $49,622,894 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

Eaton Stock Down 0.8%

Shares of NYSE:ETN traded down $2.75 during trading on Wednesday, hitting $325.41. The company's stock had a trading volume of 1,981,612 shares, compared to its average volume of 2,662,886. Eaton Co. plc has a fifty-two week low of $231.85 and a fifty-two week high of $379.99. The business has a 50 day moving average price of $291.87 and a two-hundred day moving average price of $318.50. 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 capitalization of $127.33 billion, a PE ratio of 34.25, a P/E/G ratio of 2.64 and a beta of 1.14.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping the consensus estimate 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%. Eaton's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 EPS. As a group, research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid 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 yield of 1.28%. Eaton's dividend payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of brokerages have commented on ETN. BNP Paribas began coverage on Eaton in a report on Thursday, May 15th. They set an "outperform" rating and a $380.00 target price for the company. Melius Research reiterated a "hold" rating and set a $373.00 price target on shares of Eaton in a research report on Tuesday, January 28th. BNP Paribas Exane initiated coverage on Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective on the stock. Melius cut shares of Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada raised their price target on shares of Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $367.83.

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.