Sen. Markwayne Mullin Sells Eaton Co. plc (NYSE:ETN) Stock

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 $15,001 and $50,000 in Eaton stock on December 18th.

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

• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• 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 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 Performance

NYSE:ETN opened at $331.96 on Friday. Eaton Co. plc has a 1 year low of $231.84 and a 1 year high of $379.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.53 and a quick ratio of 1.00. The business has a fifty day simple moving average of $354.71 and a two-hundred day simple moving average of $327.98. The company has a market capitalization of $131.19 billion, a P/E ratio of 35.31, a P/E/G ratio of 2.74 and a beta of 1.03.

Eaton (NYSE:ETN) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, beating 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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business earned $2.47 EPS. Eaton’s revenue was up 7.9% compared to the same quarter last year. On average, analysts expect that Eaton Co. plc will post 10.8 earnings per share for the current year.

Eaton Announces Dividend

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

Insiders Place Their Bets

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 value of $1,341,200.00. Following the completion of the sale, the director now owns 51,422 shares in the company, valued at approximately $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $378.58, for a total value of $534,554.96. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,981 shares of company stock worth $27,660,117 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Eaton

Several large investors have recently bought and sold shares of ETN. Principal Financial Group Inc. boosted its holdings in shares of Eaton by 4.1% in the 3rd quarter. Principal Financial Group Inc. now owns 457,350 shares of the industrial products company’s stock worth $151,584,000 after purchasing an additional 17,965 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in 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 valued at $13,533,000 after acquiring an additional 13,497 shares during the period. Legacy Wealth Management LLC MS purchased a new stake in Eaton in the third quarter worth $385,000. 1ST Source Bank lifted its position in shares of Eaton by 16.6% during 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 during the last quarter. Finally, Logan Capital Management Inc. boosted its stake in shares of 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 purchasing an additional 10,764 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analyst Weigh In

ETN has been the subject of a number of recent research reports. Barclays boosted their target price on Eaton from $320.00 to $353.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. UBS Group began coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 price objective on the stock. Citigroup raised their target price on Eaton from $394.00 to $440.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI lowered shares of Eaton from an “outperform” rating to an “inline” rating and increased their price target for the stock from $333.00 to $389.00 in a research note on Wednesday, November 13th. Finally, Mizuho upped their price target on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $367.83.

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.