An Analysis of Eaton Corporation plc (ETN)’s Potential Price Growth

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ZOM Stock

In a filing, Eaton Corporation plc revealed its insider below. Okray Thomas B unloaded Company’s shares for reported $1.14 million on Aug 31. In the deal valued at $231.09 per share,4,950 shares were sold. As a result of this transaction, Okray Thomas B now holds 7,367 shares worth roughly $ 1.72 million.

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Then, Szmagala Taras G. Jr. sold 1,869 shares, generating $423,665 in total proceeds. Upon selling the shares at $226.68, the below. now owns 7,431 shares.

Before that, ARNOLD CRAIG sold 100,000 shares. Eaton Corporation plc shares valued at $21,945,070 were divested by the insider below. at a price of $219.45 per share. As a result of the transaction, ARNOLD CRAIG now holds 516,875 shares, worth roughly $120.78 million.

Wolfe Research downgraded its Eaton Corporation plc [ETN] rating to a Peer perform from a an Outperform in a research note published on Friday.

Price Performance Review of ETN

On Friday, Eaton Corporation plc [NYSE:ETN] saw its stock jump 1.43% to $233.67. On the same session, the stock had its day’s lowest price of $231.18, but rose to a high of $233.975. Over the last five days, the stock has gained 4.20%. Eaton Corporation plc shares have risen nearly 48.88% since the year began. Nevertheless, the stocks have risen 71.01% over the past one year. While a 52-week high of $232.24 was reached on 09/01/23, a 52-week low of $129.85 was recorded on 01/20/23. SMA at 50 days reached $211.24, while 200 days put it at $178.66. A total of 1.42 million shares were traded, compared to the trading of 2.04 million shares in the previous session.

Levels Of Support And Resistance For ETN Stock

The 24-hour chart illustrates a support level at 231.91, which if violated will result in even more drops to 230.15. On the upside, there is a resistance level at 234.70. A further resistance level may holdings at 235.74. The Relative Strength Index (RSI) on the 14-day chart is 78.47, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.16, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.39%. Stochastics %K at 96.17% indicates the stock is a selling.

How much short interest is there in Eaton Corporation plc?

A steep rise in short interest was recorded in Eaton Corporation plc stocks on Aug 14, 2023, dropping by -1.0 million shares to a total of 3.72 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 4.72 million shares. There was a decline of -26.88%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.72.

Eaton Corporation plc [ETN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 34,587,988 shares, or roughly 8.68% of the outstanding ETN shares. In other words, the investor’s shares have risen by 132,057 from its previous 13-F filing of 34455931.0. Additionally, SSgA Funds Management, Inc. increased 3.00% of its stake after which the total value it holdings stand at $3,497,480,012, while BlackRock Fund Advisors reduced -0.20% of its stake to hold $3.48 billion in the firm. Over the last quarter, JPMorgan Investment Management, I purchased 694,683 shares of Eaton Corporation plc, while Massachusetts Financial Services bought 374,938 shares. At present, Fidelity Management & Research Co is holding 12,807,286 shares valued at $2.63 billion. Managed Account Advisors LLC owned 8,213,524 shares of the company at the time of its most recent 13F filing, worth $1.69 billion.

According to FactSet, Eaton Corporation plc’s share price will average $229.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.01 percent from its previous closing price of $230.37. Analysts expect Eaton Corporation plc stock to reach the higher price of $256.00, while the lowest price estimate is $185.00. However, 24 analysts have rated ETN stock as an Overweight in their predictions for 2023.


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