Why To Invest In Eaton Corporation plc (NYSE: ETN) Stock? – Marketing Sentinel
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Why To Invest In Eaton Corporation plc (NYSE: ETN) Stock?

In the latest trading session, 1.16 million Eaton Corporation plc (NYSE:ETN) shares changed hands as the company’s beta touched 1.16. With the company’s most recent per share price at $159.45 changing hands around $3.15 or 2.02% at last look, the market valuation stands at $62.74B. ETN’s current price is a discount, trading about -7.44% off its 52-week high of $171.32. The share price had its 52-week low at $96.24, which suggests the last value was 39.64% up since then. When we look at Eaton Corporation plc’s average trading volume, we note the 10-day average is 1.95 million shares, with the 3-month average coming to 1.61 million.

Analysts gave the Eaton Corporation plc (ETN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 24 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 8 recommended ETN as a Hold, 15 felt it is a Buy and 1 rated the stock as Underweight. Eaton Corporation plc’s EPS for the current quarter is expected to be $1.8.

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Eaton Corporation plc (NYSE:ETN) trade information

Instantly ETN is in green as seen in intraday trades today. With action -4.52%, the performance over the past five days has been red. The jump to weekly highs of 164.33 on Tuesday, 09/14/21 added 2.02% to the stock’s daily price. The company’s shares are showing year-to-date upside of 30.10%, with the 5-day performance at -4.52% in the red. However, in the 30-day time frame, Eaton Corporation plc (NYSE:ETN) is -6.75% down. Looking at the short shares, we see there were 3.64 million shares sold at short interest cover period of 2.21 days.

The consensus price target for the stock as assigned by Wall Street analysts is $179.68, meaning bulls need an upside of 11.26% from its recent market value. According to analyst projections, ETN’s forecast low is $153.00 with $200.00 as the target high. To hit the forecast high, the stock’s price needs a -25.43% plunge from its current level, while the stock would need to tank 4.05% for it to hit the projected low.

Eaton Corporation plc (ETN) estimates and forecasts

Data shows that the Eaton Corporation plc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 14.23% over the past 6 months, a 60.85% in annual growth rate that is considerably higher than the industry average of 20.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Eaton Corporation plc will rise 52.50%, while the growth in revenue is estimated to hit 44.50% for the next quarter. Year-over-year growth is forecast to reach 12.40% up from the last financial year.

Consensus estimates given by 15 financial analysts project the company’s revenue in the current quarter to hit an average of $5.16 billion. 15 analysts are of the opinion that Eaton Corporation plc’s revenue for the quarter ending Dec 2021 will be $5.1 billion. The estimates for the next quarter sales put growth at 8.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -3.70%. The 2021 estimates are for Eaton Corporation plc earnings to decrease by -33.60%, but the outlook for the next 5-year period is at 18.00% per year.

ETN Dividends

Eaton Corporation plc is expected to release its next quarterly earnings report between November 01 and November 05. The 1.94% annual yield figure for the share gives it an annual dividend of 3.04. It is important to note, however, that the 1.94% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 3.04 per year.

Eaton Corporation plc (NYSE:ETN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.20% of Eaton Corporation plc shares while 83.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.23%. There are 83.06% institutions holding the Eaton Corporation plc stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Jun 29, 2021, the company held 8.43% of the shares, roughly 33.62 million ETN shares worth $4.98 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.22% or 28.8 million shares worth $4.27 billion as of Jun 29, 2021.

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Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 11.22 million shares estimated at $1.55 billion under it, the former controlled 2.81% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.08% of the shares, roughly 8.28 million shares worth around $1.23 billion.

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