Market Analysts see Eaton Corporation plc [ETN] gaining to $160. Time to buy?

Eaton Corporation plc [NYSE: ETN] traded at a high on 06/23/21, posting a 1.11 gain after which it closed the day’ session at $144.41. The company report on June 3, 2021 that Eaton to Participate in the Morgan Stanley Sustainable Futures Conference on June 9.

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Power management company Eaton (NYSE:ETN) announced that Harold Jones, executive vice president, Eaton Business System & Sustainability, will participate in the Morgan Stanley Sustainable Futures Conference on Wednesday, June 9, at 2 p.m. Eastern time.

During the conference, Jones will participate in a fireside chat where he will discuss Eaton’s sustainability strategy and the company’s progress toward achieving its ESG goals.

The results of the trading session contributed to over 1962410 shares changing hands. Over the past one week, the price volatility of Eaton Corporation plc stands at 2.24% while the volatility over the past one month is 1.61%.

The market cap for ETN stock reached $58.94 billion, with 398.30 million shares outstanding and 397.71 million shares in the current float. Compared to the average trading volume of 1.78M shares, ETN reached a trading volume of 1962410 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 $160.79 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 2.69, with the Price to Sales ratio for ETN stock in the period of the last 12 months amounting to 3.32. The Price to Book ratio for the last quarter was 3.84, with the Price to Cash per share for the same quarter was set at 3.18. Price to Free Cash Flow for ETN in the course of the last twelve months was 45.51 with Quick ratio for the last quarter at 1.10.

How has ETN stock performed recently?

Eaton Corporation plc [ETN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.34. With this latest performance, ETN shares gained by 0.54% in over the last four-week period, additionally plugging by 23.45% over the last 6 months – not to mention a rise of 65.76% 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 49.47, with the RSI for the last a single of trading hit 49.32, and the three-weeks RSI is set at 50.61 for Eaton Corporation plc [ETN]. The present Moving Average for the last 50 days of trading for this stock 144.43, while it was recorded at 142.43 for the last single week of trading, and 125.84 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 +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 1.10 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 0.7/share EPS, while the average EPS was predicted by analysts to be reported at 0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.10%. 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 16.37%.

Insider trade positions for Eaton Corporation plc [ETN]

There are presently around $46,550 million, or 83.40% of ETN stock, in the hands of institutional investors. The top three institutional holders of ETN stocks are: VANGUARD GROUP INC with ownership of 33,348,537, which is approximately 8.59% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 30,119,886 shares of the stock with an approximate value of $4.35 billion in ETN stocks shares; and JPMORGAN CHASE & CO, currently with $3.67 billion in ETN stock with ownership of nearly 6.65% of the company’s market capitalization.

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Positions in Eaton Corporation plc stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 601 institutional holders increased their position in Eaton Corporation plc [NYSE:ETN] by around 24,151,320 shares. Additionally, 599 investors decreased positions by around 19,317,122 shares, while 201 investors held positions by with 278,877,486 shares. The mentioned changes placed institutional holdings at 322,345,928 shares, according to the latest SEC report filing. ETN stock had 171 new institutional investments in for a total of 3,392,931 shares, while 94 institutional investors sold positions of 973,608 shares during the same period.

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