During the recent session, Eaton Corporation plc (NYSE:ETN)’s traded shares were 1.06 million, with the beta value of the company hitting 1.11. At the last check today, the stock’s price was $175.35, reflecting an intraday gain of 4.27% or $7.18. The 52-week high for the ETN share is $178.75, that puts it down -1.94 from that peak though still a striking 30.14% gain since the share price plummeted to a 52-week low of $122.50. The company’s market capitalization is $67.21B, and the average intraday trading volume over the past 10 days was 1.73 million shares, and the average trade volume was 2.06 million shares over the past three months.
Eaton Corporation plc (ETN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. ETN has a Sell rating from 1 analyst(s) out of 23 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 14 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $2.1.
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Eaton Corporation plc (NYSE:ETN) trade information
Eaton Corporation plc (ETN) registered a 4.27% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.27% in intraday trading to $175.35 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 0.42%, and it has moved by 8.29% in 30 days. Based on these gigs, the overall price performance for the year is 31.02%. The short interest in Eaton Corporation plc (NYSE:ETN) is 4.53 million shares and it means that shorts have 2.71 day(s) to cover.
The consensus price target of analysts on Wall Street is $192.59, which implies an increase of 8.95% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $159.00 and $221.00 respectively. As a result, ETN is trading at a discount of -26.03% off the target high and 9.32% off the low.
Eaton Corporation plc (ETN) estimates and forecasts
Statistics show that Eaton Corporation plc has outperformed its competitors in share price, compared to the industry in which it operates. Eaton Corporation plc (ETN) shares have gone up 5.33% during the last six months, with a year-to-date growth rate more than the industry average at 11.49% against 11.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 12.30% this quarter and then jump 10.40% in the quarter after that. In the rating firms’ projections, revenue will increase 9.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $5.74 billion as predicted by 12 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $5.76 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $5.21 billion and $5.31 billion respectively. In this case, analysts expect current quarter sales to grow by 10.10% and then jump by 8.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -1.20%. While earnings are projected to return 15.10% in 2023, the next five years will return 9.51% per annum.
Eaton Corporation plc is due to release its next quarterly earnings on May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Eaton Corporation plc is 3.44, with the dividend yield indicating at 2.05 percent, continuing the trend of increasing dividends in recent years.
Eaton Corporation plc (NYSE:ETN)’s Major holders
Eaton Corporation plc insiders own 0.27% of total outstanding shares while institutional holders control 84.01%, with the float percentage being 84.24%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,948 institutions own stock in it. As of Mar 30, 2023, the company held over 36.04 million shares (or 9.04% of all shares), a total value of $6.18 billion in shares.
The next largest institutional holding, with 27.13 million shares, is of Blackrock Inc.’s that is approximately 6.81% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $4.65 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Eaton Corporation plc (ETN) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 12.1 million shares. This amounts to just over 3.04 percent of the company’s overall shares, with a $1.9 billion market value. The same data shows that the other fund manager holds slightly less at 9.19 million, or about 2.31% of the stock, which is worth about $1.44 billion.