In yesterday’s Wall Street session, Eaton Corporation plc (NYSE:ETN) shares traded at $168.17, down -1.86% from the previous session.
23 analysts cover Eaton Corporation plc (NYSE:ETN), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $221.00 and a low of $159.00, we find $193.00. Given the previous closing price of $171.36, this indicates a potential upside of 12.63 percent. ETN stock price is now 1.19% away from the 50-day moving average and 6.67% away from the 200-day moving average. The market capitalization of the company currently stands at $67.21B.
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The stock has received a hold rating from 7 analysts and a buy rating from 14. Brokers who have rated the stock have averaged $192.59 as their price target over the next twelve months.
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In other news, Okray Thomas B, insider sold 23,964 shares of the company’s stock on May 18. The stock was sold for $4,100,199 at an average price of $171.10. Upon completion of the transaction, the insider now directly owns 7,367 shares in the company, valued at $1.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 09, See Remarks below. Faria Joao V sold 2,500 shares of the business’s stock. A total of $445,650 was realized by selling the stock at an average price of $178.26. This leaves the insider owning 68,814 shares of the company worth $11.57 million. Insiders disposed of 204,382 shares of company stock worth roughly $34.37 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ETN stock. A new stake in Eaton Corporation plc shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $57,979,000. MACKENZIE FINANCIAL CORP invested $33,245,000 in shares of ETN during the first quarter. In the first quarter, SUMMIT WEALTH GROUP, LLC acquired a new stake in Eaton Corporation plc valued at approximately $30,226,000. CARTENNA CAPITAL, LP acquired a new stake in ETN for approximately $16,817,000. ASHBURTON (JERSEY) LTD purchased a new stake in ETN valued at around $16,617,000 in the second quarter. In total, there are 1,948 active investors with 85.10% ownership of the company’s stock.
On Wednesday morning Eaton Corporation plc (NYSE: ETN) stock kicked off with the opening price of $170.28. During the past 12 months, Eaton Corporation plc has had a low of $122.50 and a high of $178.75. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 1.50, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $77.60B, which is based on a 26.24 price-to-earnings ratio, a 2.76 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for ETN is $166.11 and a two-hundred day moving average price translates $157.76 for the stock.
The latest earnings results from Eaton Corporation plc (NYSE: ETN) was released for Mar, 2023. According to the Specialty Industrial Machinery Company, earnings per share came in at $1.88, beating analysts’ expectations of $1.78 by 0.1. This compares to $1.33 EPS in the same period last year. The net profit margin was 12.00% and return on equity was 15.30% for ETN. The company reported revenue of $5.48 billion for the quarter, compared to $4.84 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.21 percent. For the current quarter, analysts expect ETN to generate $5.74B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/26/2023. Investors who held shares on 05/08/2023 were paid a $0.86 dividend. On an annualized basis, this represents a $3.44 dividend and a 2.05% percent yield. There was an ex-dividend date of 05/05/2023 for this dividend. In terms of dividend payout ratio, ETN is presently at 51.10%.
Eaton Corporation plc(ETN) Company Profile
Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems. Its Aerospace segment offers pumps, motors, hydraulic power units, hoses and fittings, and electro-hydraulic pumps; valves, cylinders, electronic controls, electromechanical actuators, sensors, aircraft flap and slat systems, and nose wheel steering systems; hose, thermoplastic tubing products, fittings, adapters, couplings, and sealing and ducting products; air-to-air refueling systems, fuel pumps, fuel inerting products, sensors, and adapters and regulators; oxygen generation system, payload carriages, and thermal management products; and wiring connectors and cables, as well as hydraulic and bag filters, strainers and cartridges, and golf grips for manufacturers of commercial and military aircraft, and related after-market customers, as well as industrial applications. The company’s Vehicle segment offers transmissions, clutches, hybrid power systems, superchargers, engine valves and valve actuation systems, locking and limited slip differentials, transmission controls, and fuel vapor components for the vehicle industry. Its eMobility segment provides voltage inverters, converters, fuses, onboard chargers, circuit protection units, vehicle controls, power distribution systems, fuel tank isolation valves, and commercial vehicle hybrid systems. Eaton Corporation plc was founded in 1911 and is based in Dublin, Ireland.
