At the last check on Thursday, Eaton Corporation plc’s (NYSE:ETN) stock was down -$3.69, moving down -1.72 percent to $210.96. The average number of shares traded per day over the past five days has been 2,340,568 shares. 2 times new highs have been achieved over the past 5 days, with a -$11.22 fall in that time frame. In the last twenty days, the average volume was 2,313,602, while in the previous 50 days, it was 2,099,979.
Since last month, ETN stock retreated -2.91%. Shares of the company fell to $210.13 on 09/21/23, the lowest level in the past month. A 52-week high of $240.44 was reached on 09/12/23 after having rallying from a 52-week low of $129.85. Since the beginning of this year, ETN’s stock price has risen by 34.42% or $53.98, and marked a new high 44 times. However, the stock has declined by -12.26% since its 52-week high.
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ETN stock investors should be aware that Eaton Corporation plc (ETN) stock had its last reported insider trading activity 21 days ago on Aug 31. Okray Thomas B disposed of 4,950 shares for $231.09 on Aug 31. It resulted in a $1,143,896 divestment by the insider. Szmagala Taras G. Jr. sold 1,869 shares at an average price of $226.68 on Aug 29. The insider now owns 7,431 shares following the transaction. On Aug 14, ARNOLD CRAIG sold 100,000 shares at $219.45 apiece. The transaction was valued at $21,945,070.
Valuation Metrics
Right now, Eaton Corporation plc (ETN) has a P/E ratio of about 31.18. The stock’s beta is 1.12. Besides these, the trailing price-to-sales (P/S) ratio of 3.90, the price-to-book (PB) ratio of 4.69, and the price-to-cash flow ratio of 31.73 may also be considered.
The latest dividend of $0.86 per share was paid out, remained unchanged from last year’s $0.86. On Thursday February 23 2023, a $0.05 dividend increase was announced.
Financial Health
In the three months ended June 29, Eaton Corporation plc’s quick ratio stood at 1.00, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.49, and the total debt-to-equity ratio was 0.52. On the profitability front, the trailing twelve-month gross margin is 34.50% percent. In the year ended June 29, EBITDA margin amounted to 20.21%, whereas operating margins totaled 15.40%. Based on annual data, ETN earned $6.89 billion in gross profit and brought in $20.75 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 10.20%. Return on equity (ROE) for the past 12 months was 15.80%.
In Eaton Corporation plc’s quarter-end financial report for June 29, it reported total debt of $8.8 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. ETN’s revenue rose 10.62% to $5.53 billion during the quarter, while net income inched up to $5.87 billion. While analysts expected Eaton Corporation plc to report $2.11 quarterly earnings, the actual figure was $2.21 per share, beating the consensus estimate by 4.70%. During the quarter, the company generated $1.17 billion in EBITDA. The liabilities of Eaton Corporation plc were 18.78 billion at the end of its most recent quarter ended June 29, and its total debt was $9.78 billion. The value of shareholders’ equity is $399.0 million.
Technical Picture
This quick technical analysis looks at Eaton Corporation plc’s (ETN) price momentum. With a historical volatility rate of 23.82%, the RSI 9-day stood at 27.55% on 20 September.
With respect to its five-day moving average, the current Eaton Corporation plc price is down by -5.05% percent or -$11.22. At present, ETN shares trade -4.69% below its 20-day simple moving average and +26.21% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.46% above its SMA50 and +29.16% above its SMA200.
Stochastic coefficient K was 8.21% and Stochastic coefficient D was 11.69%, while ATR was 5.41. Given the Stochastic reading of 2.62% for the 14-day period, the RSI (14) reading has been calculated as 35.90%. As of today, the MACD Oscillator reading stands at -6.98, while the 14-day reading stands at -11.36.
Analyst Ratings
Eaton Corporation plc downgraded its rating on Eaton Corporation plc (NYSE: ETN) to a Peer perform in a note to investors on July 11, 2023. The analysts firm previously had an Outperform rating on the stock.Eaton Corporation plc (ETN) has been rated Overweight by analysts. According to 1 brokerage firm, ETN is a sell, and 8 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate Eaton Corporation plc stock as buy, with 13 recommending it as overweight.
With a median target price of $239.50, the current consensus forecast for the stock is $185.00 – $270.00. Based on these forecasts, analysts predict Eaton Corporation plc (ETN) will achieve an average price target of $233.39.
