Eaton Co. plc (NYSE:ETN) Shares Bought by Park Place Capital Corp

Park Place Capital Corp raised its position in Eaton Co. plc (NYSE:ETN) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,020 shares of the industrial products company’s stock after acquiring an additional 232 shares during the quarter. Park Place Capital Corp’s holdings in Eaton were worth $1,574,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ETN. DAVENPORT & Co LLC grew its position in Eaton by 3.7% in the 4th quarter. DAVENPORT & Co LLC now owns 24,781 shares of the industrial products company’s stock valued at $5,968,000 after acquiring an additional 891 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC grew its position in shares of Eaton by 14.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 757 shares of the industrial products company’s stock worth $182,000 after buying an additional 93 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Eaton by 14.2% during the fourth quarter. Venturi Wealth Management LLC now owns 1,355 shares of the industrial products company’s stock worth $326,000 after buying an additional 169 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Eaton during the fourth quarter worth about $957,000. Finally, Ballentine Partners LLC grew its position in shares of Eaton by 3.6% during the fourth quarter. Ballentine Partners LLC now owns 3,984 shares of the industrial products company’s stock worth $959,000 after buying an additional 137 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eaton

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

Eaton Stock Performance

NYSE ETN traded down $17.62 on Friday, reaching $280.26. The stock had a trading volume of 4,528,035 shares, compared to its average volume of 2,834,101. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.56. Eaton Co. plc has a 12-month low of $191.82 and a 12-month high of $345.19. The business’s 50-day moving average price is $317.93 and its 200 day moving average price is $305.97. The stock has a market cap of $112.05 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.47 and a beta of 1.02.

Eaton Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on ETN. JPMorgan Chase & Co. boosted their price objective on Eaton from $279.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Wolfe Research reissued an “underperform” rating and set a $312.00 price objective on shares of Eaton in a research report on Monday, April 8th. Raymond James assumed coverage on Eaton in a research report on Friday, June 28th. They set an “outperform” rating and a $375.00 price objective for the company. Royal Bank of Canada decreased their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Argus boosted their target price on Eaton from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Eaton presently has an average rating of “Moderate Buy” and an average target price of $326.53.

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.