Eaton Corporation plc (NYSE: ETN)’s stock price has increased by 1.57 compared to its previous closing price of 169.17. but the company has seen a -2.09% decline in its stock price over the last five trading sessions. Barron’s reported on 08/01/22 that U.S. Manufacturing Growth Slows. But Investors Pile Into GE, Eaton, and Other Industrial Stocks.
Is It Worth Investing in Eaton Corporation plc (NYSE: ETN) Right Now?
The price-to-earnings ratio for Eaton Corporation plc (NYSE: ETN) is above average at 27.98x. The 36-month beta value for ETN is also noteworthy at 1.13. There are mixed opinions on the stock, with 14 analysts rating it as a “buy,” 0 rating it as “overweight,” 8 rating it as “hold,” and 1 rating it as “sell.”
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The public float for ETN is 396.20M, and at present, short sellers hold a 1.15% of that float. The average trading volume of ETN on March 15, 2023 was 1.73M shares.
ETN’s Market Performance
ETN stock saw an increase of -2.09% in the past week, with a monthly gain of 0.54% and a quarterly increase of 8.56%. The volatility ratio for the week is 2.41%, and the volatility levels for the last 30 days are 1.92% for Eaton Corporation plc (ETN). The simple moving average for the last 20 days is -1.19% for ETN stock, with a simple moving average of 14.68% for the last 200 days.
Analysts’ Opinion of ETN
Barclays, on the other hand, stated in their research note that they expect to see ETN reach a price target of $120. The rating they have provided for ETN stocks is “Underweight” according to the report published on May 24th, 2022.
Wolfe Research gave a rating of “Outperform” to ETN, setting the target price at $194 in the report published on February 07th of the previous year.
ETN Trading at 3.29% from the 50-Day Moving Average
After a stumble in the market that brought ETN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.87% of loss for the given period.
Volatility was left at 1.92%, however, over the last 30 days, the volatility rate increased by 2.41%, as shares sank -1.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.20% upper at present.
During the last 5 trading sessions, ETN fell by -2.09%, which changed the moving average for the period of 200-days by +28.15% in comparison to the 20-day moving average, which settled at $173.78. In addition, Eaton Corporation plc saw 9.48% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ETN starting from Faria Joao V, who sale 2,500 shares at the price of $178.26 back on Mar 09. After this action, Faria Joao V now owns 68,814 shares of Eaton Corporation plc, valued at $445,650 using the latest closing price.
Faria Joao V, the below. of Eaton Corporation plc, sale 2,500 shares at $176.71 during a trade that took place back on Mar 08, which means that Faria Joao V is holding 71,314 shares at $441,763 based on the most recent closing price.
Stock Fundamentals for ETN
Equity return is now at value 14.90, with 7.00 for asset returns.
Conclusion
In summary, Eaton Corporation plc (ETN) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
