In a filing, Eaton Corporation plc revealed its insider below. Monesmith Heath B. unloaded Company’s shares for reported $3.8 million on Mar 11 ’24. In the deal valued at $291.40 per share,13,027 shares were sold. As a result of this transaction, Monesmith Heath B. now holds 69,472 shares worth roughly $21.67 million.
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Then, Szmagala Taras G. Jr. sold 8,157 shares, generating $2,390,625 in total proceeds. Upon selling the shares at $293.08, the insider now owns 7,866 shares.
Before that, Yelton Michael sold 2,615 shares. Eaton Corporation plc shares valued at $767,956 were divested by the insider below at a price of $293.67 per share. As a result of the transaction, Yelton Michael now holds 2,823 shares, worth roughly $0.88 million.
JP Morgan upgraded its Eaton Corporation plc [ETN] rating to an Overweight from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in mid July from “an Outperform” to “a Peer perform”. JP Morgan began covering ETN with “Neutral” recommendation on June 06, 2023. Oppenheimer revised its rating on December 06, 2022. It rated ETN as “a Perform” which previously was an “an Outperform”.
Price Performance Review of ETN
On Monday, Eaton Corporation plc [NYSE:ETN] saw its stock fall -1.48% to $311.88. Over the last five days, the stock has gained 4.39%. Eaton Corporation plc shares have risen nearly 29.51% since the year began. Nevertheless, the stocks have risen 89.55% over the past one year. While a 52-week high of $317.02 was reached on 03/22/24, a 52-week low of $155.38 was recorded on 01/03/24. SMA at 50 days reached $276.69, while 200 days put it at $231.67. A total of 1.7 million shares were traded, compared to the trading of 2.05 million shares in the previous session.
Levels Of Support And Resistance For ETN Stock
The 24-hour chart illustrates a support level at 310.33, which if violated will result in even more drops to 308.77. On the upside, there is a resistance level at 314.61. A further resistance level may holdings at 317.33. The Relative Strength Index (RSI) on the 14-day chart is 70.27, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 11.82, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 18.75%. Stochastics %K at 92.88% 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 Feb 29, 2024, dropping by -0.62 million shares to a total of 3.15 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.77 million shares. There was a decline of -19.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.79% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.69.
