Eaton Corporation plc [NYSE: ETN] loss -2.70% or -3.7 points to close at $133.26 with a heavy trading volume of 12544663 shares. The company report on March 18, 2021 that Eaton Completes the Acquisition of Tripp Lite, Expanding Eaton’s Power Quality Business in the Americas.
Power management company Eaton (NYSE:ETN) announced it has completed the acquisition of Tripp Lite.
Headquartered in Chicago, Illinois, Tripp Lite is a leading supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, rack power distribution units, surge protectors, and enclosures for data centers, industrial, medical and communications markets in the Americas.
It opened the trading session at $136.64, the shares rose to $136.68 and dropped to $133.18, the range by which the price of stock traded the whole day. The daily chart for ETN points out that the company has recorded 26.90% gains over the past six months. However, it is still -136.19% lower than its most recent low trading price.
If we look at the average trading volume of 2.17M shares, ETN reached to a volume of 12544663 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $143.28 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 2.00. 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.
Berenberg have made an estimate for Eaton Corporation plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 08, 2021. The new note on the price target was released on March 03, 2021, representing the official price target for Eaton Corporation plc stock. Previously, the target price had yet another raise from $103 to $140, while HSBC Securities kept a Buy rating on ETN stock.
The Average True Range (ATR) for Eaton Corporation plc is set at 3.36, with the Price to Sales ratio for ETN stock in the period of the last 12 months amounting to 3.05. The Price to Book ratio for the last quarter was 3.56, with the Price to Cash per share for the same quarter was set at 2.69. Price to Free Cash Flow for ETN in the course of the last twelve months was 39.51 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for ETN stock
Eaton Corporation plc [ETN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.33. With this latest performance, ETN shares gained by 6.45% in over the last four-week period, additionally plugging by 26.90% over the last 6 months – not to mention a rise of 83.93% 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 50.18, with the RSI for the last a single of trading hit 43.05, and the three-weeks RSI is set at 53.55 for Eaton Corporation plc [ETN]. The present Moving Average for the last 50 days of trading for this stock 128.10, while it was recorded at 136.92 for the last single week of trading, and 109.73 for the last 200 days.
Eaton Corporation plc [ETN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Eaton Corporation plc [ETN] shares currently have an operating margin of +13.00 and a Gross Margin at +30.49. Eaton Corporation plc’s Net Margin is presently recorded at +7.90.
Return on Total Capital for ETN is now 9.59, given the latest momentum, and Return on Invested Capital for the company is 6.06. Return on Equity for this stock inclined to 9.09, with Return on Assets sitting at 4.36. When it comes to the capital structure of this company, Eaton Corporation plc [ETN] has a Total Debt to Total Equity ratio set at 56.93. Additionally, ETN Total Debt to Total Capital is recorded at 36.28, with Total Debt to Total Assets ending up at 26.71. Long-Term Debt to Equity for the company is recorded at 49.14, with the Long-Term Debt to Total Capital now at 31.31.
Reflecting on the efficiency of the workforce at the company, Eaton Corporation plc [ETN] managed to generate an average of $15,328 per employee. Receivables Turnover for the company is 5.47 with a Total Asset Turnover recorded at a value of 0.55.Eaton Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.60.
Eaton Corporation plc [ETN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Eaton Corporation plc posted 1.09/share EPS, while the average EPS was predicted by analysts to be reported at 1.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.90%. 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 15.69%.
An analysis of insider ownership at Eaton Corporation plc [ETN]
There are presently around $42,491 million, or 82.60% of ETN stock, in the hands of institutional investors. The top three institutional holders of ETN stocks are: VANGUARD GROUP INC with ownership of 30,710,385, which is approximately -1.301% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 30,043,948 shares of the stock with an approximate value of $4.0 billion in ETN stocks shares; and JPMORGAN CHASE & CO, currently with $3.17 billion in ETN stock with ownership of nearly 0.802% of the company’s market capitalization.
Positions in Eaton Corporation plc stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 604 institutional holders increased their position in Eaton Corporation plc [NYSE:ETN] by around 15,324,905 shares. Additionally, 516 investors decreased positions by around 16,295,277 shares, while 173 investors held positions by with 287,237,887 shares. The mentioned changes placed institutional holdings at 318,858,069 shares, according to the latest SEC report filing. ETN stock had 191 new institutional investments in for a total of 3,145,844 shares, while 54 institutional investors sold positions of 1,506,041 shares during the same period.