Sen. Markwayne Mullin Sells Off Shares of Eaton Co. plc (NYSE:ETN)

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 %

Shares of NYSE ETN opened at $331.87 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $131.16 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 2.74 and a beta of 1.03. The firm’s 50-day moving average is $355.24 and its 200-day moving average is $327.93. Eaton Co. plc has a 1 year low of $231.84 and a 1 year high of $379.99.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. Equities analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ETN shares. Sanford C. Bernstein began coverage on Eaton in a report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price objective for the company. Raymond James lowered their price target on Eaton from $375.00 to $365.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. Barclays lifted their price objective on shares of Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Bank of America upped their target price on shares of Eaton from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Wolfe Research raised shares of Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.83.

Insider Transactions at Eaton

In other news, insider Craig Arnold sold 61,569 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the sale, the insider now owns 506,360 shares in the company, valued at $182,780,769.20. This represents a 10.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the completion of the transaction, the director now directly owns 43,203 shares of the company’s stock, valued at $15,379,403.94. This represents a 18.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,981 shares of company stock worth $27,660,117 in the last three months. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Eaton

A number of hedge funds and other institutional investors have recently bought and sold shares of ETN. B. Riley Wealth Advisors Inc. grew its stake in shares of Eaton by 48.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 41,106 shares of the industrial products company’s stock worth $13,533,000 after acquiring an additional 13,497 shares in the last quarter. Interval Partners LP boosted its holdings in Eaton by 82.7% during the second quarter. Interval Partners LP now owns 151,716 shares of the industrial products company’s stock worth $47,571,000 after purchasing an additional 68,693 shares during the last quarter. Scientech Research LLC grew its position in Eaton by 285.5% in the second quarter. Scientech Research LLC now owns 5,744 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 4,254 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Eaton in the 3rd quarter valued at $1,160,000. Finally, Heritage Wealth Management Inc. bought a new stake in Eaton during the 2nd quarter worth about $3,263,000. Institutional investors and hedge funds 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.

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.