Eaton Corporation plc (NYSE: ETN) is 3.02% higher on its value in year-to-date trading and has touched a low of $122.50 and a high of $167.51 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 $158.92 in the last trading session, with the day’s gains setting it 2.77% off its average median price target of $173.00 for the next 12 months. It is also 24.09% off the consensus price target high of $213.00 offered by 22 analysts, but current levels are -24.38% lower than the price target low of $130.00 for the same period.
Currently trading at $161.69, the stock is 1.82% and 1.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.59 million and changing 1.74% at the moment leaves the stock 11.23% off its SMA200. ETN registered 0.72% gain for a year compared to 6-month gain of 17.94%.
The stock witnessed a 2.26% loss in the last 1 month and extending the period to 3 months gives it a 16.05%, and is -0.44% down 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 3.40% over the week and 2.09% over the month.
Eaton Corporation plc (ETN) has around 85947 employees, a market worth around $62.80B and $20.17B in sales. Current P/E ratio is 28.32 and Fwd P/E is 19.67. Profit margin for the company is 11.40%. Distance from 52-week low is 31.99% and -3.47% from its 52-week high. The company has generated returns on investments over the last 12 months (9.20%).
Eaton Corporation plc (ETN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Eaton Corporation plc (ETN) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 2.20, where 7 rate it as a Hold and 0 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Eaton Corporation plc is expected to release its quarterly report on 05/02/2023.The EPS is expected to grow by 53.00% this year.
Eaton Corporation plc (ETN) Top Institutional Holders
The shares outstanding are 398.40M, and float is at 396.20M with Short Float at 1.09%.
Eaton Corporation plc (ETN) Insider Activity
A total of 20 insider transactions have happened at Eaton Corporation plc (ETN) in the last six months, with sales accounting for 12 and purchases happening 8 times. The most recent transaction is an insider sale by CHERUVATATH NANDAKUMAR,the company’s below. SEC filings show that CHERUVATATH NANDAKUMAR sold 5,322 shares of the company’s common stock on Dec 08 at a price of $158.18 per share for a total of $0.84 million. Following the sale, the insider now owns 21000.0 shares.
Eaton Corporation plc disclosed in a document filed with the SEC on Nov 04 that BRICKHOUSE BRIAN S ( below.) sold a total of 27,438 shares of the company’s common stock. The trade occurred on Nov 04 and was made at $155.76 per share for $4.27 million. Following the transaction, the insider now directly holds 28131.0 shares of the ETN stock.
Still, SEC filings show that on Nov 03, Okray Thomas B ( below.) disposed off 6,736 shares at an average price of $156.25 for $1.05 million. The insider now directly holds 0 shares of Eaton Corporation plc (ETN).
Eaton Corporation plc (ETN): Who are the competitors?
The company’s main competitors (and peers) include General Electric Company (GE) that is trading 7.39% up over the past 12 months and Suncor Energy Inc. (SU) that is 23.83% higher over the same period.