Eaton (NYSE:ETN) Stock Unloaded Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Eaton Co. plc NYSE: ETN. In a filing disclosed on January 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Eaton stock on December 11th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Block NYSE: SQ on 12/30/2024.
• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 12/30/2024.
• Sold $1,001 - $15,000 in shares of Ambev NYSE: ABEV on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Grupo Financiero Banorte OTCMKTS: GBOOY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Cadre NYSE: CDRE on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Coloplast A/S OTCMKTS: CLPBY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Intuitive Surgical NASDAQ: ISRG on 12/23/2024.
• Sold $1,001 - $15,000 in shares of Trane Technologies NYSE: TT on 12/23/2024.
• Purchased $1,001 - $15,000 in shares of Walmart NYSE: WMT on 12/20/2024.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 12/19/2024.

Eaton Price Performance

NYSE ETN opened at $342.35 on Thursday. The firm's 50 day moving average is $355.38 and its 200-day moving average is $329.33. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.45. Eaton Co. plc has a 12-month low of $236.04 and a 12-month high of $379.99. The company has a market capitalization of $135.30 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.70 and a beta of 1.06.

Eaton (NYSE:ETN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.47 earnings per share. Equities research analysts anticipate that Eaton Co. plc will post 10.8 earnings per share for the current fiscal year.

Eaton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 4th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Monday, November 4th. Eaton's payout ratio is presently 40.00%.

Analysts Set New Price Targets

ETN has been the topic of a number of recent research reports. UBS Group started coverage on Eaton in a research note on Wednesday, November 13th. They set a "buy" rating and a $431.00 price objective on the stock. Barclays raised their price objective on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Mizuho raised their price target on shares of Eaton from $365.00 to $385.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on Eaton from $374.00 to $392.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, Citigroup decreased their price target on Eaton from $440.00 to $410.00 and set a "buy" rating for the company in a report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $368.89.

Insider Buying and Selling

In other Eaton news, insider Craig Arnold sold 61,569 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total transaction of $22,224,561.93. Following the completion of the sale, the insider now directly owns 506,360 shares of the company's stock, valued at approximately $182,780,769.20. This represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was 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 directly owns 51,422 shares of the company's stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,981 shares of company stock valued at $27,660,117. Insiders own 0.53% of the company's stock.

Institutional Trading of Eaton

Several large investors have recently modified their holdings of ETN. Strategic Wealth Partners Ltd. grew its stake in shares of Eaton by 3.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,027 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 30 shares during the period. Fairfield Financial Advisors LTD raised its position in shares of Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company's stock valued at $71,000 after buying an additional 30 shares in the last quarter. Westmount Partners LLC lifted its stake in shares of Eaton by 3.1% in the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 30 shares during the last quarter. Signal Advisors Wealth LLC increased its position in Eaton by 3.5% during the fourth quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 30 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Eaton by 2.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,549 shares of the industrial products company's stock worth $513,000 after purchasing an additional 32 shares during the period. Institutional investors own 82.97% of the company's stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.