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.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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%.
