The stock of Eaton Corporation plc (NYSE:ETN) last traded at $206.29, down -0.52% from the previous session.
Data from the available sources indicates that Eaton Corporation plc (NYSE:ETN) is covered by 23 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $235.00 and a low of $170.00, we find $210.00. Given the previous closing price of $207.36, this indicates a potential upside of 1.27 percent. ETN stock price is now 8.39% away from the 50-day moving average and 22.55% away from the 200-day moving average. The market capitalization of the company currently stands at $83.50B.
In total, 8 analysts have assigned it a hold rating, and 13 have given it a buy rating. Brokers who have rated the stock have averaged $207.88 as their price target over the next twelve months.
In other news, Yelton Michael, insider sold 2,000 shares of the company’s stock on Jun 15. The stock was sold for $394,220 at an average price of $197.11. Upon completion of the transaction, the insider now directly owns 2,096 shares in the company, valued at $0.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 07, below. ARNOLD CRAIG sold 22,935 shares of the business’s stock. A total of $4,281,769 was realized by selling the stock at an average price of $186.69. This leaves the insider owning 516,875 shares of the company worth $106.63 million. Insiders disposed of 413,958 shares of company stock worth roughly $85.4 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 $71,122,000. MACKENZIE FINANCIAL CORP invested $40,781,000 in shares of ETN during the first quarter. In the first quarter, WAFRA INC. acquired a new stake in Eaton Corporation plc valued at approximately $38,206,000. SUMMIT WEALTH GROUP, LLC acquired a new stake in ETN for approximately $37,078,000. CARTENNA CAPITAL, LP purchased a new stake in ETN valued at around $20,629,000 in the second quarter. In total, there are 1,948 active investors with 85.10% ownership of the company’s stock.
During the past 12 months, Eaton Corporation plc has had a low of $129.85 and a high of $211.83. 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 $90.97B, which is based on a 32.18 price-to-earnings ratio, a 3.07 price-to-earnings-growth ratio, and a beta of 1.12. The fifty day moving average price for ETN is $191.08 and a two-hundred day moving average price translates $168.64 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 $5.75B 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 1.67% 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%.
