Park Place Capital Corp Has $1.36 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Park Place Capital Corp boosted its position in Eaton Co. plc (NYSE:ETN) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,098 shares of the industrial products company’s stock after purchasing an additional 41 shares during the period. Park Place Capital Corp’s holdings in Eaton were worth $1,360,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its holdings in Eaton by 48.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock valued at $13,533,000 after acquiring an additional 13,497 shares during the period. Scientech Research LLC raised its holdings in Eaton by 285.5% in the 2nd quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after acquiring an additional 4,254 shares during the period. Eastover Investment Advisors LLC bought a new position in Eaton in the 4th quarter valued at about $6,167,000. Neville Rodie & Shaw Inc. increased its holdings in shares of Eaton by 6.8% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 38,386 shares of the industrial products company’s stock worth $12,739,000 after purchasing an additional 2,428 shares during the period. Finally, Ballentine Partners LLC increased its holdings in shares of Eaton by 9.3% during the fourth quarter. Ballentine Partners LLC now owns 9,256 shares of the industrial products company’s stock worth $3,072,000 after purchasing an additional 790 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eaton

In other news, Director Gregory R. Page sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the sale, the director now directly owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the sale, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,981 shares of company stock valued at $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of Eaton from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI cut shares of Eaton from an “outperform” rating to an “inline” rating and raised their target price for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on shares of Eaton in a report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price on the stock. Barclays raised their target price on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.89.

Eaton Price Performance

ETN stock opened at $373.91 on Wednesday. The firm has a market cap of $147.77 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 2.40 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $239.17 and a 12-month high of $379.99. The company’s fifty day simple moving average is $353.58 and its 200 day simple moving average is $330.45.

Eaton (NYSE:ETN) last released its earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. Eaton’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 earnings per share. On average, analysts expect that Eaton Co. plc will post 10.79 earnings per share for the current year.

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.