B. Riley Wealth Advisors Inc. Buys 13,497 Shares of Eaton Co. plc (NYSE:ETN)

B. Riley Wealth Advisors Inc. lifted its holdings in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 48.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 41,106 shares of the industrial products company's stock after purchasing an additional 13,497 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Eaton were worth $13,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETN. Brookstone Capital Management lifted its holdings in Eaton by 88.6% during the 2nd quarter. Brookstone Capital Management now owns 2,593 shares of the industrial products company's stock worth $808,000 after buying an additional 1,218 shares in the last quarter. ARS Wealth Advisors Group LLC bought a new position in Eaton in the second quarter valued at about $431,000. Marshall Financial Group LLC increased its position in Eaton by 10.4% in the second quarter. Marshall Financial Group LLC now owns 2,594 shares of the industrial products company's stock worth $813,000 after purchasing an additional 244 shares during the period. Chapin Davis Inc. raised its holdings in Eaton by 22.4% during the 2nd quarter. Chapin Davis Inc. now owns 10,692 shares of the industrial products company's stock worth $3,352,000 after purchasing an additional 1,955 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its position in Eaton by 7.2% during the 2nd quarter. Chesley Taft & Associates LLC now owns 9,388 shares of the industrial products company's stock valued at $2,944,000 after purchasing an additional 628 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley started coverage on shares of Eaton in a research report on Friday, September 6th. They set an "overweight" rating and a $370.00 price target for the company. Barclays increased their price target on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Jefferies Financial Group lifted their price objective on Eaton from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Bank of America increased their target price on Eaton from $350.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, UBS Group initiated coverage on Eaton in a research note on Wednesday, November 13th. They issued a "buy" rating and a $431.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eaton currently has a consensus rating of "Moderate Buy" and an average price target of $367.83.

Eaton Stock Down 0.7 %

Shares of ETN stock traded down $2.63 on Friday, hitting $356.01. 1,165,048 shares of the stock were exchanged, compared to its average volume of 2,082,403. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $140.70 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. Eaton Co. plc has a fifty-two week low of $231.84 and a fifty-two week high of $379.99. The business has a 50-day moving average of $355.79 and a 200 day moving average of $326.62.

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

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date was Monday, November 4th. This represents a $3.76 annualized dividend and a yield of 1.06%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Insider Transactions at Eaton

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the sale, the insider now owns 31,200 shares in the company, valued at $11,811,696. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Arnold sold 61,569 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,981 shares of company stock worth $24,100,317 in the last three months. Insiders own 0.53% of the company's stock.

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.