ETN Stock Summary and Trading Ideas (Eaton PLC | NYSE:ETN)

Eaton is a diversified power management company operating for over 100 years. The company operates through various segments, including electrical Americas, electrical global, aerospace, vehicle, and eMobility. Eaton's portfolio can broadly be divided into two halves. One part of its portfolio is housed under its industrial sector umbrella, which serves a large variety of end markets like commercial vehicles, general aviation, and trucks. The other portion is Eaton's electrical sector portfolio, which serves data centers, utilities, and the residential end market, among others. While the company receives favorable tax treatment with its Ireland domicile, most of its operations are in the US.

Eaton PLC trades on the NYSE stock market under the symbol ETN.

As of May 13, 2024, ETN stock price declined to $328.51 with 1,404,693 million shares trading.

ETN has a beta of 1.22, meaning it tends to be more sensitive to market movements. ETN has a correlation of 0.36 to the broad based SPY ETF.

ETN has a market cap of $130.75 billion. This is considered a Large Cap stock.

Last quarter Eaton PLC reported $6 billion in Revenue and $2.40 earnings per share. This beat revenue expectation by $33 million and exceeded earnings estimates by $.11.

In the last 3 years, ETN stock traded as high as $337.70 and as low as $122.50.

The top ETF exchange traded funds that ETN belongs to (by Net Assets): VTI, VOO, SPY, IVV, VTV.

ETN has outperformed the market in the last year with a return of +96.4%, while the SPY ETF gained +27.8%. In the last 3 month period, ETN beat the market returning +18.9%, while SPY returned +4.3%. However, in the most recent 2 weeks ETN has underperformed the stock market by returning +1.6%, while SPY returned +2.5%.

ETN support price is $324.68 and resistance is $336.46 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ETN stock will trade within this expected range on the day.