Monthly Stock Report: Eaton Corporation, PLC (ETN)
Publication Date: September 22, 2024
Company Overview
Eaton Corporation, PLC (ETN) is a prominent power management company headquartered in Dublin, specializing in electrical and aerospace components, as well as vehicle systems. Founded in 1911, Eaton operates within the Industrials sector, specifically in the Specialty Industrial Machinery industry. The company offers a comprehensive array of essential products, including power distribution equipment, industrial components, advanced aerospace technologies, and vehicle power systems. These offerings significantly enhance power reliability and energy efficiency, making Eaton a key player in various sectors since it went public on March 4, 1957.
Investment Recommendation
In the current market scenario, Eaton Corporation is recommended as a “buy,” supported by strong financial performance, including total revenue of approximately $24.14 billion. Analysts project a high target price of $385.00, indicating confidence in the company’s growth prospects and market positioning. With a current stock price of $330.60, this presents a potential upside for investors. Moreover, the medium target price set at $346.06 and average recommendation score of 2.1 (based on 18 analysts) reflect an optimistic sentiment toward Eaton’s stock performance going forward.
Market Metrics and Performance Analysis
Eaton Corporation has a total of 398.1 million shares outstanding, with about 5.14 million shares currently shorted, representing 1.29% of the company’s float. This relatively low short percentage suggests cautious optimism among investors. The stock currently stands above its fifty-day moving average of $300.42 and is close to its fifty-two week high of $345.19, indicating strong recent performance. However, the fifty-two week low of $191.82 highlights volatility, making it vital for investors to consider both current performance metrics and potential market fluctuations when assessing Eaton Corporation’s stock for their portfolios.
This report on Eaton Corporation, PLC provides a succinct overview that combines essential company information with current investment insights, tailored for optimal clarity and engagement.
| Metric | Value |
|---|---|
| Market Cap | $131.6b |
| Total Debt | $10.5b |
| Total Cash | $2.8b |
| Shares Outstanding | 398.1m |
| Float Shares | 396.3m |
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