Eaton Corporation plc (NYSE:ETN) finished Wednesday with an addition of $4.01 to close at $221.30, an upside of 1.85 percent. An average of 1,482,760 shares of common stock have been traded in the last five days. There was a gain of $5.21 in the past week, and it reached a new high 48 times over the past 12 months. The last 20 days have seen an average of 1,928,950 shares traded, while the 50-day average volume stands at 2,016,912.
ETN stock has increased by 7.28% in the last month. The company shares reached their 1-month lowest point of $200.86 on 07/26/23. With the stock rallying to its 52-week high on 08/02/23, shares of the company touched a low of $129.85 and a high of $225.76 in 52 weeks. It has reached a new high 35 times so far this year and achieved 41.00% or $64.35 in price. In spite of this, the price is down -1.98% from the 52-week high.
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Insider Transactions
ETN stock investors should be aware that Eaton Corporation plc (ETN) stock had its last reported insider trading activity 10 days ago on Aug 14. In this transaction, the insider spent $21,945,070. below., Monesmith Heath B., disposed of 9,831 shares at a price of $221.12 on Aug 07. The insider now owns more than $2,173,831 worth of shares. Prior to that, below. Denk Peter went on to Sale 4,720 shares at $219.65 each on Aug 07. An amount of $1,036,764 was transacted.
Valuation Metrics
Eaton Corporation plc (ETN) has a trailing price-to-earnings (P/E) ratio of 32.71. The stock’s beta is 1.10. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.00, the price-to-book (PB) ratio at 4.92, and the price-to-cash flow ratio at 32.57.
The company has a payout ratio of 49.10%. The company’s most recent quarterly dividend payment was $0.86 a share, without any change from last year. Its latest increase dividend $0.05 reported on Thursday February 23 2023.
Financial Health
The quick ratio of Eaton Corporation plc for the three months ended June 29 was 1.00, and the current ratio was 1.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.49 and a total debt to equity ratio of 0.52 for the quarter ending June 29. Eaton Corporation plc’s EBITDA margin for the year ending June 29 is 20.21%, while its operating margin for the same period stands at 15.40%. Its gross profit as reported stood at $6.89 billion compared to revenue of $20.75 billion.
Earnings Surprise
For the three-month period that ended June 29, Eaton Corporation plc had $8.8 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $744.0 million in the quarter, while revenues were grew 19.22%. The analyst consensus anticipated Eaton Corporation plc’s latest quarter earnings to come in at $2.11 per share, but it turned out to be $2.21, a 4.70% surprise. For the quarter, EBITDA amounted to $1.17 billion. Shareholders own equity worth $399.0 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Eaton Corporation plc (ETN) price momentum. RSI 9-day as of the close on 23 August was 68.19%, suggesting the stock is Neutral, with historical volatility in this time frame at 12.64%.
As of today, ETN’s price is $216.67 +2.41% or $5.21 from its 5-day moving average. ETN is currently trading +8.99% higher than its 20-day SMA and +30.88% higher than its 100-day SMA. However, the stock’s current price level is +16.75% above the SMA50 and +43.15% above the SMA200.
The stochastic %K and %D were 55.55% and 41.43%, respectively, and the average true range (ATR) was 3.98. With the 14-day stochastic at 86.07% and the average true range at 4.03, the RSI (14) stands at 66.02%. The stock has reached 0.91 on the 9-day MACD Oscillator while the 14-day reading was at 0.49.
Analyst Ratings
Wolfe Research downgraded Eaton Corporation plc (NYSE: ETN) to a a Peer perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Eaton Corporation plc (ETN) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell ETN, while 8 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 13 others rate it as a “buy”.
What is ETN’s price target for the next 12 months?
Analysts predict a range of price targets between $185.00 and $256.00, with a median target of $235.00. Taking a look at these predictions, the average price target given by analysts for Eaton Corporation plc (ETN) stock is $231.00.
