Park Place Capital Corp Has $1.35 Million Position in Eaton Co. plc (NYSE:ETN)

Park Place Capital Corp lessened its holdings in Eaton Co. plc (NYSE:ETN) by 19.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,057 shares of the industrial products company’s stock after selling 963 shares during the period. Park Place Capital Corp’s holdings in Eaton were worth $1,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Breakwater Investment Management boosted its stake in shares of Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares in the last quarter. Atwood & Palmer Inc. lifted its holdings in Eaton by 142.9% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 50 shares during the last quarter. Proffitt & Goodson Inc. acquired a new position in Eaton in the second quarter valued at about $29,000. Redmont Wealth Advisors LLC bought a new stake in Eaton during the first quarter worth about $33,000. Finally, LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter worth approximately $33,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ETN shares. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays raised their target price on Eaton from $319.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of Eaton from $370.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Morgan Stanley assumed coverage on shares of Eaton in a research report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on shares of Eaton from $315.00 to $342.00 and gave the stock an “equal weight” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $339.47.

Insiders Place Their Bets

In other news, Director Dorothy C. Thompson purchased 2,205 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $300.30 per share, with a total value of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eaton news, Director Dorothy C. Thompson acquired 2,205 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $300.30 per share, for a total transaction of $662,161.50. Following the acquisition, the director now directly owns 2,205 shares of the company’s stock, valued at approximately $662,161.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karenann K. Terrell bought 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $298.97 per share, with a total value of $149,485.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at $149,485. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 52,511 shares of company stock worth $15,809,326. Company insiders own 0.53% of the company’s stock.

Eaton Trading Down 0.2 %

Shares of ETN stock traded down $0.60 during trading hours on Tuesday, reaching $334.03. The company had a trading volume of 232,780 shares, compared to its average volume of 2,145,700. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. The firm has a market cap of $133.55 billion, a price-to-earnings ratio of 39.50, a P/E/G ratio of 2.53 and a beta of 1.02. The company has a 50 day moving average of $304.08 and a 200 day moving average of $314.92.

Eaton (NYSE:ETN) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 21.45% and a net margin of 15.12%. On average, equities research analysts anticipate that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 1.13%. The ex-dividend date was Monday, August 5th. Eaton’s payout ratio is presently 44.39%.

About Eaton

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.