Eaton Corporation plc (NYSE:ETN) shares, rose in value, with the stock price down by -4.59% to the previous day’s close as strong demand from buyers drove the stock to $327.08.
Actively observing the price movement in the recent trading, the stock is buoying the session at $342.81, falling within a range of $322.0 and $330.45. The value of beta (5-year monthly) is 1.01 whereas the PE ratio is 35.97 over 12-month period. Referring to stock’s 52-week performance, its high was $349.74, and the low was $198.68. On the whole, ETN has fluctuated by -0.28% over the past month.
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With the market capitalization of Eaton Corporation plc currently standing at about $130.21 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-31. The company’s Forward Dividend Ratio is 3.68, with its dividend yield at 1.13%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 25.12B, with a low estimate of 6.3B and a high estimate of 6.42B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 6.37B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ETN’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.85, with the price of ETN currently trading nearly -4.19% and 1.54% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.44, while the 7-day volatility ratio is showing 1.80% which for the 30-day chart, stands at 1.60%. Furthermore, Eaton Corporation plc (ETN)’s beta value is 1.01, and its average true range (ATR) is 7.26.
A comparison of Eaton Corporation plc (ETN) with its peers suggests the former has fared considerably weaker in the market. ETN showed an intraday change of -4.59% in today’s session so far, and over the past year, it grew by 57.32%%.
Data on historical trading for Eaton Corporation plc (NYSE:ETN) indicates that the trading volumes over the past 10 days have averaged 1.61 and over the past 3 months, they’ve averaged 2.12 million. According to company’s latest data on outstanding shares, there are 399.40 million shares outstanding.
Nearly 0.22% of Eaton Corporation plc’s shares belong to company insiders and institutional investors own 83.57% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.9 million shares as on 2024-10-15, resulting in a short ratio of 2.18. According to the data, the short interest in Eaton Corporation plc (ETN) stood at 98.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 4.59 million. The stock has risen by 35.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ETN stock heading into the next quarter.
