Eaton Corporation plc (NYSE:ETN) has a beta value of 1.07 and has seen 3.97 million shares traded in the last trading session. The company, currently valued at $125.39B, closed the last trade at $313.87 per share which meant it lost -$11.95 on the day or -3.67% during that session. The ETN stock price is -5.61% off its 52-week high price of $331.47 and 50.5% above the 52-week low of $155.38. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.29 million shares traded. The 3-month trading volume is 1.89 million shares.
Eaton Corporation plc (NYSE:ETN) trade information
Sporting -3.67% in the red in last session, the stock has traded in the red over the last five days, when the ETN stock price touched $313.87 or saw a rise of 5.31%. Year-to-date, Eaton Corporation plc shares have moved 30.33%, while the 5-day performance has seen it change -0.28%. Over the past 30 days, the shares of Eaton Corporation plc (NYSE:ETN) have changed 5.51%. Short interest in the company has seen 3.63 million shares shorted with days to cover at 1.92.
Eaton Corporation plc (ETN) estimates and forecasts
Figures show that Eaton Corporation plc shares have underperformed across the wider relevant industry. The company’s shares have gained 49.33% over the past 6 months, with this year growth rate of 12.39%, compared to 18.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 21.30% and 13.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 7.60%.
13 analysts offering their estimates for the company have set an average revenue estimate of $5.9 billion for the current quarter. 13 have an estimated revenue figure of $6.3 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $5.48 billion and $5.75 billion respectively for this quarter and the next, and analysts expect sales will grow by 7.60% for the current quarter and 9.60% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 10.32% over the past 5 years. Earnings growth for 2024 is a modest 12.54% while over the next 5 years, the company’s earnings are expected to increase by 11.40%.
ETN Dividends
Eaton Corporation plc is expected to release its next earnings report between April 30 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 3.52 at a share yield of 1.12%. The company’s dividend yield has gone up over the past 12 months.
Eaton Corporation plc (NYSE:ETN)’s Major holders
Insiders own 0.20% of the company shares, while shares held by institutions stand at 85.90% with a share float percentage of 86.07%. Investors are also buoyed by the number of investors in a company, with Eaton Corporation plc having a total of 2,289 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 36.16 million shares worth more than $7.27 billion. As of Jun 29, 2023, Vanguard Group Inc held 9.06% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 26.88 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $5.41 billion and represent 6.74% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of Jun 29, 2023, the former fund manager holds about 3.11% shares in the company for having 12.42 million shares of worth $2.5 billion while later fund manager owns 9.49 million shares of worth $1.91 billion as of Jun 29, 2023, which makes it owner of about 2.38% of company’s outstanding stock.
