Park Place Capital Corp Sells 2,653 Shares of Eaton Corporation, PLC $ETN

Key Points

• Park Place Capital Corp significantly reduced its holdings in Eaton Corporation, PLC by 65.4%, selling 2,653 shares, and now owns 1,402 shares valued at approximately $498,000.
• Insider Olivier Leonetti sold 16,018 shares for over $5.7 million, resulting in a 96.22% decrease in their ownership, highlighting substantial insider activity in the stock.
• Eaton Corporation reported earnings of $2.95 per share for the recent quarter, exceeding expectations and reflecting a year-over-year revenue increase of 10.7% to $7.03 billion.

Park Place Capital Corp lowered its position in shares of Eaton Corporation, PLC (NYSE:ETN - Free Report) by 65.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,402 shares of the industrial products company's stock after selling 2,653 shares during the period. Park Place Capital Corp's holdings in Eaton were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. HCR Wealth Advisors increased its stake in shares of Eaton by 39.5% during the second quarter. HCR Wealth Advisors now owns 5,229 shares of the industrial products company's stock worth $1,867,000 after purchasing an additional 1,481 shares during the period. Independence Bank of Kentucky increased its stake in Eaton by 3.3% during the 2nd quarter. Independence Bank of Kentucky now owns 6,467 shares of the industrial products company's stock worth $2,309,000 after acquiring an additional 205 shares during the period. ORG Partners LLC increased its stake in Eaton by 20.7% during the 2nd quarter. ORG Partners LLC now owns 978 shares of the industrial products company's stock worth $347,000 after acquiring an additional 168 shares during the period. Old Port Advisors bought a new position in Eaton during the 2nd quarter worth $214,000. Finally, ST Germain D J Co. Inc. increased its stake in Eaton by 1.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 30,486 shares of the industrial products company's stock worth $10,883,000 after acquiring an additional 462 shares during the period. Institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In related news, insider Olivier Leonetti sold 16,018 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $358.39, for a total value of $5,740,691.02. Following the transaction, the insider owned 630 shares in the company, valued at approximately $225,785.70. This represents a 96.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company's stock.

Eaton Price Performance

Shares of NYSE ETN opened at $367.24 on Tuesday. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $399.56. The stock's 50 day moving average price is $363.39 and its 200-day moving average price is $331.25. The company has a market capitalization of $142.96 billion, a PE ratio of 36.95, a PEG ratio of 2.61 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.03. Eaton had a return on equity of 23.91% and a net margin of 15.11%.The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the business earned $2.73 EPS. The company's revenue was up 10.7% compared to the same quarter last year. Eaton has set its Q3 2025 guidance at 3.010-3.070 EPS. FY 2025 guidance at 11.970-12.170 EPS. On average, equities analysts anticipate that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, August 7th were paid a $1.04 dividend. The ex-dividend date was Thursday, August 7th. This represents a $4.16 annualized dividend and a yield of 1.1%. Eaton's dividend payout ratio is presently 41.85%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ETN shares. Sanford C. Bernstein restated an "outperform" rating and set a $396.00 price objective on shares of Eaton in a research note on Monday, July 14th. Rothschild & Co Redburn started coverage on Eaton in a research note on Wednesday, August 20th. They set a "neutral" rating and a $336.00 price objective on the stock. Raymond James Financial raised their target price on Eaton from $380.00 to $415.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Citigroup raised their target price on Eaton from $420.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Rothschild Redb raised Eaton to a "hold" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $390.68.

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.

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