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 $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 Down 0.2 %

Shares of NYSE ETN opened at $331.87 on Thursday. The firm has a 50-day moving average price of $354.97 and a 200 day moving average price of $327.96. Eaton Co. plc has a 52 week low of $231.84 and a 52 week high of $379.99. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. The stock has a market capitalization 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.

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

Eaton Dividend Announcement

The firm 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 payout ratio is 40.00%.

Hedge Funds Weigh In On Eaton

Hedge funds have recently made changes to their positions in the business. Breakwater Investment Management boosted its stake in shares of Eaton by 1,560.0% in the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the period. Morse Asset Management Inc purchased a new position in Eaton in the 3rd quarter valued at about $33,000. LGT Financial Advisors LLC acquired a new stake in shares of Eaton during the second quarter valued at about $33,000. West Financial Advisors LLC purchased a new stake in shares of Eaton during the third quarter worth about $35,000. Finally, DT Investment Partners LLC purchased a new stake in shares of Eaton during the third quarter worth about $37,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ETN. Sanford C. Bernstein initiated coverage on shares of Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 target price for the company. Mizuho lifted their price objective on Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Evercore ISI cut Eaton from an “outperform” rating to an “inline” rating and boosted their price target for the stock from $333.00 to $389.00 in a report on Wednesday, November 13th. Finally, Raymond James decreased their price objective on Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.83.

Insider Buying and Selling

In other news, Director Gregory R. Page sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $355.98, for a total value of $3,559,800.00. Following the completion of the sale, the director now owns 43,203 shares of the company’s stock, valued at approximately $15,379,403.94. The trade was a 18.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 506,360 shares in the company, valued at $182,780,769.20. The trade was a 10.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,981 shares of company stock worth $27,660,117. 0.53% of the stock is currently owned by corporate insiders.

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.