Market Analysts see Eaton Corporation plc [ETN] gaining to $135. Time to buy?

Eaton Corporation plc [NYSE: ETN] traded at a high on 11/19/20, posting a 1.17 gain after which it closed the day’ session at $118.12. The company report on November 19, 2020 that Eaton to Participate in the Credit Suisse 8th Annual Global Industrials Conference December 4, 2020.

Power management company Eaton (NYSE:ETN) today announced that its Chairman and Chief Executive Officer, Craig Arnold, will participate in the Credit Suisse 8th Annual Global Industrials Conference on Friday, December 4, 2020, at 3:10 p.m. Eastern time.

A live webcast of the event will be available on the company’s Investor Relations website at www.eaton.com/investor-relations-presentations. A replay will be available following the event at the same link.

The results of the trading session contributed to over 2242476 shares changing hands. Over the past one week, the price volatility of Eaton Corporation plc stands at 2.42% while the volatility over the past one month is 2.83%.

The market cap for ETN stock reached $46.62 billion, with 400.40 million shares outstanding and 397.74 million shares in the current float. Compared to the average trading volume of 1.54M shares, ETN reached a trading volume of 2242476 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Eaton Corporation plc [ETN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ETN shares is $116.89 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ETN stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Eaton Corporation plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 11, 2020. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on August 20, 2020, representing the official price target for Eaton Corporation plc stock.

The Average True Range (ATR) for Eaton Corporation plc is set at 3.28, with the Price to Sales ratio for ETN stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 3.27, with the Price to Cash per share for the same quarter was set at 1.93. Price to Free Cash Flow for ETN in the course of the last twelve months was 35.29 with Quick ratio for the last quarter at 1.10.

How has ETN stock performed recently?

Eaton Corporation plc [ETN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.24. With this latest performance, ETN shares gained by 9.09% in over the last four-week period, additionally plugging by 50.15% over the last 6 months – not to mention a rise of 31.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ETN stock in for the last two-week period is set at 67.32, with the RSI for the last a single of trading hit 69.03, and the three-weeks RSI is set at 64.01 for Eaton Corporation plc [ETN]. The present Moving Average for the last 50 days of trading for this stock 106.99, while it was recorded at 116.58 for the last single week of trading, and 93.23 for the last 200 days.

Eaton Corporation plc [ETN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Eaton Corporation plc [ETN] shares currently have an operating margin of +14.31 and a Gross Margin at +32.97. Eaton Corporation plc’s Net Margin is presently recorded at +10.34.

Return on Total Capital for ETN is now 12.60, given the latest momentum, and Return on Invested Capital for the company is 9.39. Return on Equity for this stock inclined to 13.74, with Return on Assets sitting at 6.92. When it comes to the capital structure of this company, Eaton Corporation plc [ETN] has a Total Debt to Total Equity ratio set at 54.56. Additionally, ETN Total Debt to Total Capital is recorded at 35.30, with Total Debt to Total Assets ending up at 26.75. Long-Term Debt to Equity for the company is recorded at 50.68, with the Long-Term Debt to Total Capital now at 32.79.

Reflecting on the efficiency of the workforce at the company, Eaton Corporation plc [ETN] managed to generate an average of $21,891 per employee. Receivables Turnover for the company is 5.71 with a Total Asset Turnover recorded at a value of 0.67.Eaton Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.50.

Earnings analysis for Eaton Corporation plc [ETN]

With the latest financial reports released by the company, Eaton Corporation plc posted 1.37/share EPS, while the average EPS was predicted by analysts to be reported at 1.4/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ETN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Eaton Corporation plc go to -0.87%.

Insider trade positions for Eaton Corporation plc [ETN]

There are presently around $37,778 million, or 82.70% of ETN stock, in the hands of institutional investors. The top three institutional holders of ETN stocks are: VANGUARD GROUP INC with ownership of 31,115,205, which is approximately -1.639% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 30,639,987 shares of the stock with an approximate value of $3.62 billion in ETN stocks shares; and JPMORGAN CHASE & CO, currently with $2.79 billion in ETN stock with ownership of nearly 15.913% of the company’s market capitalization.

Positions in Eaton Corporation plc stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 461 institutional holders increased their position in Eaton Corporation plc [NYSE:ETN] by around 13,542,142 shares. Additionally, 539 investors decreased positions by around 13,913,006 shares, while 185 investors held positions by with 292,376,376 shares. The mentioned changes placed institutional holdings at 319,831,524 shares, according to the latest SEC report filing. ETN stock had 102 new institutional investments in for a total of 1,398,840 shares, while 71 institutional investors sold positions of 2,539,255 shares during the same period.

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