Eaton Corporation plc [ETN] stock Reiterated by Wolfe Research analyst, price target now $194

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Eaton Corporation plc [NYSE: ETN] slipped around -1.55 points on Thursday, while shares priced at $148.38 at the close of the session, down -1.03%. The company report on May 4, 2022 that Eaton to Participate in the Goldman Sachs Industrials and Materials Conference on May 12.

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Power management company Eaton (NYSE:ETN) today announced that its Executive Vice President and Chief Financial Officer, Tom Okray, will participate in the Goldman Sachs Industrials and Materials Conference on Thursday, May 12, at 8:50 a.m. Eastern time. Mr. Okray will participate in a virtual fireside chat and answer questions from investors.

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.

Eaton Corporation plc stock is now -14.14% down from its year-to-date (YTD) trading value. ETN Stock saw the intraday high of $150.88 and lowest of $147.10 per share. The company’s 52-week high price is 175.72, which means current price is +6.43% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 2.07M shares, ETN reached a trading volume of 3870245 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 $175.30 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 2.20. 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.

Wolfe Research have made an estimate for Eaton Corporation plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 07, 2022. While these analysts kept the previous recommendation, Mizuho dropped their target price from $200 to $195. The new note on the price target was released on February 07, 2022, representing the official price target for Eaton Corporation plc stock. Previously, the target price had yet another drop from $191 to $189, while Deutsche Bank kept a Buy rating on ETN stock. On February 07, 2022, analysts increased their price target for ETN shares from 184 to 186.

The Average True Range (ATR) for Eaton Corporation plc is set at 4.20, with the Price to Sales ratio for ETN stock in the period of the last 12 months amounting to 3.08. The Price to Book ratio for the last quarter was 3.60, with the Price to Cash per share for the same quarter was set at 1.39. Price to Free Cash Flow for ETN in the course of the last twelve months was 163.84 with Quick ratio for the last quarter at 0.60.

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 0.34. With this latest performance, ETN shares gained by 1.21% in over the last four-week period, additionally sinking by -12.46% over the last 6 months – not to mention a rise of 1.32% 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 51.69, with the RSI for the last a single of trading hit 54.35, and the three-weeks RSI is set at 49.87 for Eaton Corporation plc [ETN]. The present Moving Average for the last 50 days of trading for this stock 149.04, while it was recorded at 147.28 for the last single week of trading, and 159.54 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 +14.62 and a Gross Margin at +32.17. Eaton Corporation plc’s Net Margin is presently recorded at +10.92.

Return on Equity for this stock inclined to 13.68, with Return on Assets sitting at 6.51.

Eaton Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.00.

Earnings analysis for Eaton Corporation plc [ETN]

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 18.61%.

Insider trade positions for Eaton Corporation plc [ETN]

There are presently around $48,017 million, or 82.90% of ETN stock, in the hands of institutional investors. The top three institutional holders of ETN stocks are: VANGUARD GROUP INC with ownership of 34,026,467, which is approximately 0.475% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 26,509,697 shares of the stock with an approximate value of $3.97 billion in ETN stocks shares; and JPMORGAN CHASE & CO, currently with $3.85 billion in ETN stock with ownership of nearly 7.733% of the company’s market capitalization.

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 663 institutional holders increased their position in Eaton Corporation plc [NYSE:ETN] by around 16,411,068 shares. Additionally, 648 investors decreased positions by around 14,549,795 shares, while 237 investors held positions by with 289,301,079 shares. The mentioned changes placed institutional holdings at 320,261,942 shares, according to the latest SEC report filing. ETN stock had 161 new institutional investments in for a total of 4,357,036 shares, while 120 institutional investors sold positions of 1,288,826 shares during the same period.