Park Place Capital Corp Buys 232 Shares of Eaton Co. plc (NYSE:ETN)

Park Place Capital Corp grew its stake in Eaton Co. plc (NYSE:ETN) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,020 shares of the industrial products company’s stock after purchasing an additional 232 shares during the quarter. Park Place Capital Corp’s holdings in Eaton were worth $1,574,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in Eaton during the 4th quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new position in Eaton during the 1st quarter valued at about $25,000. Atwood & Palmer Inc. lifted its position 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 acquiring an additional 50 shares during the period. Clear Investment Research LLC purchased a new position in Eaton during the 4th quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Eaton in the first quarter worth about $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 5.9 %

Shares of NYSE ETN traded down $17.62 during mid-day trading on Friday, reaching $280.26. The company had a trading volume of 4,528,035 shares, compared to its average volume of 2,834,101. The business’s 50-day moving average is $317.93 and its 200-day moving average is $305.97. The company has a current ratio of 1.56, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market cap of $112.05 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02. Eaton Co. plc has a 52 week low of $191.82 and a 52 week high of $345.19.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 5th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, August 5th. Eaton’s payout ratio is presently 44.39%.

Insider Transactions at Eaton

In other news, insider Peter Denk sold 2,416 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $331.84, for a total value of $801,725.44. Following the transaction, the insider now directly owns 5,086 shares in the company, valued at $1,687,738.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company decreased their target price on shares of Eaton from $320.00 to $315.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho reaffirmed a “buy” rating and issued a $355.00 target price (up from $340.00) on shares of Eaton in a report on Wednesday, May 1st. Argus lifted their price target on shares of Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Wolfe Research reiterated an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $326.53.

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.