Eaton Corporation plc [ETN] Stock trading around $142.45 per share: What’s Next?

Eaton Corporation plc [NYSE: ETN] plunged by -$2.05 during the normal trading session on Thursday and reaching a high of $144.44 during the day while it closed the day at $142.45. The company report on October 4, 2022 that Roadmap To Achieving Emissions Reduction Targets for Commercial Vehicles.


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Eaton:

With regulations put in place to significantly reduce emissions, how can commercial vehicle manufacturers and fleet owners better prepare for the shift? Karl Sievertsen, vice president of engineering and chief technology officer for Eaton’s Vehicle Group, discusses how to prepare for upcoming changes and what technology will help maximize fuel efficiency and increase operational effectiveness.

Eaton Corporation plc stock has also gained 6.19% of its value over the past 7 days. However, ETN stock has inclined by 11.45% in the 3 months of the year. Over the past six months meanwhile, it has lost -1.66% and lost -17.57% year-on date.

The market cap for ETN stock reached $57.07 billion, with 399.00 million shares outstanding and 396.79 million shares in the current float. Compared to the average trading volume of 1.61M shares, ETN reached a trading volume of 2379950 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $162.42 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.

Barclays have made an estimate for Eaton Corporation plc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on May 24, 2022. While these analysts kept the previous recommendation, Wolfe Research dropped their target price from $196 to $194. 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 $200 to $195, while Mizuho kept a Buy rating on ETN stock. On February 07, 2022, analysts decreased their price target for ETN shares from 191 to 189.

The Average True Range (ATR) for Eaton Corporation plc is set at 3.86, with the Price to Sales ratio for ETN stock in the period of the last 12 months amounting to 2.89. The Price to Book ratio for the last quarter was 3.47, with the Price to Cash per share for the same quarter was set at 1.55.

ETN stock trade performance evaluation

Eaton Corporation plc [ETN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.19. With this latest performance, ETN shares gained by 0.84% in over the last four-week period, additionally sinking by -1.66% over the last 6 months – not to mention a drop of -6.10% 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 55.32, with the RSI for the last a single of trading hit 59.82, and the three-weeks RSI is set at 53.21 for Eaton Corporation plc [ETN]. The present Moving Average for the last 50 days of trading for this stock 143.29, while it was recorded at 140.32 for the last single week of trading, and 146.31 for the last 200 days.

Eaton Corporation plc [ETN]: An insightful look at the core 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 per share (EPS) analysis for Eaton Corporation plc [ETN] stock

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 10.20%.

Eaton Corporation plc [ETN]: Insider Ownership positions

There are presently around $46,748 million, or 84.90% of ETN stock, in the hands of institutional investors. The top three institutional holders of ETN stocks are: VANGUARD GROUP INC with ownership of 35,147,721, which is approximately 1.798% of the company’s market cap and around 0.38% of the total institutional ownership; BLACKROCK INC., holding 27,828,645 shares of the stock with an approximate value of $3.96 billion in ETN stocks shares; and JPMORGAN CHASE & CO, currently with $3.62 billion in ETN stock with ownership of nearly -4.432% 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 607 institutional holders increased their position in Eaton Corporation plc [NYSE:ETN] by around 19,892,892 shares. Additionally, 637 investors decreased positions by around 16,687,578 shares, while 248 investors held positions by with 291,593,676 shares. The mentioned changes placed institutional holdings at 328,174,146 shares, according to the latest SEC report filing. ETN stock had 91 new institutional investments in for a total of 2,726,163 shares, while 133 institutional investors sold positions of 1,533,004 shares during the same period.

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