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Why should you keep an eye on Eaton Corporation plc (ETN)?

Eaton Corporation plc (NYSE: ETN) is 20.30% higher on its value in year-to-date trading and has touched a low of $70.54 and a high of $145.01 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ETN stock was last observed hovering at around $144.59 in the last trading session, with the day’s loss setting it -0.06% off its average median price target of $149.00 for the next 12 months. It is also 9.67% off the consensus price target high of $160.00 offered by 24 analysts, but current levels are -15.62% lower than the price target low of $125.00 for the same period.

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Currently trading at $144.53, the stock is 2.58% and 5.56% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.57 million and changing -0.04% at the moment leaves the stock 24.16% off its SMA200. ETN registered 73.92% gain for a year compared to 6-month gain of 34.55%. The firm has a 50-day simple moving average (SMA 50) of $139.33 and a 200-day simple moving average (SMA200) of $124.28.

The stock witnessed a 4.32% loss in the last 1 month and extending the period to 3 months gives it a 25.83%, and is 2.13% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.42% over the week and 1.51% over the month.

Eaton Corporation plc (ETN) has around 92000 employees, a market worth around $56.94B and $17.86B in sales. Current P/E ratio is 41.47 and Fwd P/E is 22.15. Profit margin for the company is 7.90%. Distance from 52-week low is 104.89% and -0.33% from its 52-week high. The company has generated returns on investments over the last 12 months (6.80%).

Eaton Corporation plc (ETN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Eaton Corporation plc (ETN) is a “Overweight”. 24 analysts offering their recommendations for the stock have an average rating of 2.00, where 6 rate it as a Hold and 0 think it is a “Overweight”. 17 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Eaton Corporation plc is expected to release its quarterly report on 08/03/2021 and quarterly earnings per share for the current quarter are estimated at $1.23 with sales reaching $4.55B over the same period.The EPS is expected to shrink by -33.60% this year, but quarterly earnings will post 0.20% year-over-year. Quarterly sales are estimated to shrink -5.10% in year-over-year returns.

Eaton Corporation plc (ETN) Top Institutional Holders

1,641 institutions hold shares in Eaton Corporation plc (ETN), with 792.22k shares held by insiders accounting for 0.20% while institutional investors hold 82.75% of the company’s shares. The shares outstanding are 398.90M, and float is at 397.89M with Short Float at 1.02%. Institutions hold 82.59% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 30.71 million shares valued at $3.69 billion. The investor’s holdings represent 7.71% of the ETN Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 30.04 million shares valued at $3.61 billion to account for 7.54% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 23.82 million shares representing 5.98% and valued at over $2.86 billion, while State Street Corporation holds 4.32% of the shares totaling 17.22 million with a market value of $2.07 billion.

Eaton Corporation plc (ETN) Insider Activity

A total of 143 insider transactions have happened at Eaton Corporation plc (ETN) in the last six months, with sales accounting for 75 and purchases happening 68 times. The most recent transaction is an insider sale by Yadav Uday below.. SEC filings show that Yadav Uday sold 2,213 shares of the company’s common stock on Mar 05 at a price of $135.12 per share for a total of $0.3 million. Following the sale, the insider now owns 23416.0 shares.

Eaton Corporation plc disclosed in a document filed with the SEC on Mar 03 that BRICKHOUSE BRIAN S sold a total of 22,758 shares of the company’s common stock. The trade occurred on Mar 03 and was made at $135.80 per share for $3.09 million. Following the transaction, the insider now directly holds 15587.0 shares of the ETN stock.

Still, SEC filings show that on Feb 25, Faria Joao V disposed off 3,000 shares at an average price of $132.80 for $0.4 million. The insider now directly holds 60,572 shares of Eaton Corporation plc (ETN).

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Eaton Corporation plc (ETN): Who are the competitors?

The company’s main competitors (and peers) include Emerson Electric Co. (EMR) that is trading 60.06% up over the past 12 months. Regal Beloit Corporation (RBC) is 110.20% up on the 1-year trading charts. Short interest in the company’s stock has risen 8.74% from the last report on Apr 14, 2021 to stand at a total of 4.07 million short shares sold with a short interest ratio of 1.6.

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