Eaton (NYSE:ETN) Shares Unloaded Sen. Markwayne Mullin

Senator Markwayne Mullin (R-Oklahoma) recently sold shares of Eaton Co. plc (NYSE:ETN). In a filing disclosed on December 31st, the Senator disclosed that they had sold between $1,001 and $15,000 in Eaton stock on December 18th.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Axon Enterprise (NASDAQ:AXON) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Sprouts Farmers Market (NASDAQ:SFM) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of Badger Meter (NYSE:BMI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Freshpet (NASDAQ:FRPT) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of e.l.f. Beauty (NYSE:ELF) on 12/18/2024.

Eaton Stock Down 0.2 %

ETN stock opened at $331.87 on Thursday. The company’s 50 day moving average is $354.97 and its 200 day moving average is $327.96. The stock has a market cap of $131.16 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 1-year low of $231.84 and a 1-year high of $379.99.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Eaton Co. plc will post 10.8 EPS for the current fiscal year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.13%. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total value of $534,554.96. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory R. Page sold 4,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $335.30, for a total value of $1,341,200.00. Following the sale, the director now directly owns 51,422 shares in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Sanford C. Bernstein started coverage on Eaton in a research note on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price target for the company. Citigroup boosted their target price on Eaton from $394.00 to $440.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wolfe Research upgraded shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Jefferies Financial Group upped their price objective on shares of Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, 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 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Eaton currently has an average rating of “Moderate Buy” and an average price target of $367.83.

Institutional Trading of Eaton

Several large investors have recently added to or reduced their stakes in ETN. Principal Financial Group Inc. lifted its holdings in Eaton by 4.1% in the third quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock worth $151,584,000 after buying an additional 17,965 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of 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 purchasing an additional 13,497 shares during the period. Legacy Wealth Management LLC MS bought a new stake in shares of Eaton during the third quarter valued at approximately $385,000. 1ST Source Bank raised its holdings in Eaton by 16.6% in the third quarter. 1ST Source Bank now owns 2,808 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 400 shares in the last quarter. Finally, Logan Capital Management Inc. lifted its position in Eaton by 76.8% during the third quarter. Logan Capital Management Inc. now owns 24,771 shares of the industrial products company’s stock valued at $8,210,000 after buying an additional 10,764 shares during the period. Institutional investors own 82.97% of the company’s stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

Eaton Company 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.