Eaton Corporation plc (NYSE:ETN) saw an upside of 1.52% to close Monday at $215.90 after adding $3.24 on the day. The 5-day average trading volume is 1,983,880 shares of the company’s common stock. It has gained $220.22 in the past week and touched a new high 2 times within the past 5 days. An average of 2,327,720 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,159,042.
ETN’s 1-month performance is -2.27% or -$8.35 on its low of $209.02 reached on 09/22/23. The company’s shares have touched a 52-week low of $129.85 and high of $240.44, with the stock’s rally to the 52-week high happening on 09/12/23. YTD, ETN has achieved 37.56% or $58.95 and has reached a new high 44 times. However, the current price is down -10.21% from the 52-week high price.
Insider Transactions
ETN stock investors last saw insider trading activity on Aug 31.Okray Thomas B ( below.) most recently sold 4,950 shares at $231.09 per share on Aug 31. This transaction cost the insider $1,143,896. below., Szmagala Taras G. Jr., sold 1,869 shares at a price of $226.68 on Aug 29. Then, on Aug 14, below. ARNOLD CRAIG sold 100,000 shares at a price of $219.45 per share. This transaction amounted to $21,945,070.
Valuation Metrics
ETN stock has a beta of 1.12. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.91 while the price-to-book (PB) in the most recent quarter is 4.80, with the price to cash flow ratio at 31.82.
Eaton Corporation plc’s quick ratio for the period ended June 29 was 0.99, with the current ratio over the same period at 1.53. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.52, while the total debt to equity was 0.54. In terms of profitability, the gross margin trailing 12 months is 34.54%. The trailing 12-month EBITDA margin is 20.21% while for the period ending June 29, Eaton Corporation plc’s operating margin was 16.36%. The firm’s gross profit as reported stood at $6.89 billion against revenue of $20.75 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 19.22% to $744.0 million, while revenue of $638.0 million was 14.25% off the previous quarter. Analysts expected ETN to announce $2.11 per share in earnings in its latest quarter, but it posted $2.21, representing a 4.70% surprise. EBITDA for the quarter stood at more than $1.17 billion. ETN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 18.78 billion, with total debt at $9.78 billion. Shareholders hold equity totaling $399.0 million.
Let’s look briefly at Eaton Corporation plc (ETN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 41.09% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.53%.
The stock’s 5-day moving average is $214.00, reflecting a -1.48% or -$3.25 change from its current price. ETN is currently trading -3.72% above its 20-day SMA, +24.62% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +6.11% and SMA200 by+36.81%.
Stochastic %K and %D was 11.74% and 8.95% and the average true range (ATR) pointed at 5.36. The RSI (14) points at 44.02%, while the 14-day stochastic is at 21.90% with the period’s ATR at 5.10. The stock’s 9-day MACD Oscillator is pointing at -3.64 and -9.71 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Eaton Corporation plc (NYSE: ETN), Wolfe Research downgraded it to a Peer perform rating. They previously had an Outperform rating on the stock. Analysts offering their rating for ETN stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate ETN as a “sell,”, while 8 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 13 have offered a “buy” rating.
What is ETN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $185.00 and a high of $270.00, with their median price target at $239.50. Looking at these predictions, the average price target given by analysts is for Eaton Corporation plc (ETN) stock is $233.56.
