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

B. Riley Wealth Advisors Inc. lifted its position in Eaton Co. plc (NYSE:ETN) by 48.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,106 shares of the industrial products company’s stock after buying an additional 13,497 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Eaton were worth $13,533,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Breakwater Investment Management increased its position in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 78 shares in the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton during the 2nd quarter valued at about $29,000. Morse Asset Management Inc purchased a new stake in Eaton in the third quarter valued at about $33,000. LGT Financial Advisors LLC acquired a new stake in Eaton in the second quarter worth about $33,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter worth about $35,000. Institutional investors own 82.97% of the company’s stock.

Eaton Price Performance

Shares of NYSE ETN opened at $356.18 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The firm has a market cap of $140.76 billion, a PE ratio of 37.89, a PEG ratio of 2.74 and a beta of 1.03. Eaton Co. plc has a one year low of $231.84 and a one year high of $379.99. The firm has a fifty day moving average of $355.79 and a 200 day moving average of $326.70.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company earned $2.47 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, November 4th. Eaton’s dividend payout ratio is presently 40.00%.

Analysts Set New Price Targets

A number of analysts recently commented on ETN shares. Bank of America lifted their target price on shares of Eaton from $350.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Raymond James reduced their target price on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Sanford C. Bernstein initiated coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target on the stock. Finally, Citigroup raised their price objective on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $367.83.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the transaction, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company’s stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is owned by corporate insiders.

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.