B. Riley Wealth Advisors Inc. Has $8.66 Million Stock Position in Eaton Co. plc (NYSE:ETN)

B. Riley Wealth Advisors Inc. raised its holdings in Eaton Co. plc (NYSE:ETN) by 25.9% during the second quarter, HoldingsChannel reports. The firm owned 27,609 shares of the industrial products company’s stock after acquiring an additional 5,676 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Eaton were worth $8,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norden Group LLC bought a new position in Eaton in the 1st quarter valued at approximately $2,176,000. Griffin Asset Management Inc. bought a new position in shares of Eaton in the 1st quarter valued at $813,000. Focus Financial Network Inc. ADV acquired a new stake in shares of Eaton during the 4th quarter valued at $554,000. IAM Advisory LLC bought a new stake in Eaton during the 2nd quarter worth $599,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Eaton by 19.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 78,725 shares of the industrial products company’s stock worth $24,616,000 after purchasing an additional 12,689 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Eaton Trading Down 1.4 %

NYSE ETN opened at $328.45 on Monday. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19. The business has a 50 day moving average price of $301.03 and a 200-day moving average price of $313.82. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.44. The company has a market cap of $131.31 billion, a price-to-earnings ratio of 38.78, a P/E/G ratio of 2.53 and a beta of 1.01.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.12. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.35 billion. Eaton had a net margin of 15.12% and a return on equity of 21.45%. As a group, equities analysts expect that Eaton Co. plc will post 10.75 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, August 5th. Eaton’s dividend payout ratio (DPR) is presently 44.39%.

Insiders Place Their Bets

In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total value of $96,721.20. Following the transaction, the insider now owns 9,900 shares of the company’s stock, valued at $2,858,328. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Dorothy C. Thompson bought 2,205 shares of Eaton stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $300.30 per share, with a total value of $662,161.50. Following the transaction, the director now directly owns 2,205 shares of the company’s stock, valued at $662,161.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Taras G. Jr. Szmagala sold 335 shares of Eaton stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the completion of the sale, the insider now directly owns 9,900 shares in the company, valued at approximately $2,858,328. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,511 shares of company stock valued at $15,809,326. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ETN. Citigroup initiated coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Raymond James reduced their target price on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a report on Monday, September 9th. Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Royal Bank of Canada decreased their price objective on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their target price on Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $337.41.

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.