Eaton Corporation plc’s recent filing unveils that 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 $22.96 million.
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 $0.93 million.
RBC Capital Mkts upgraded its Eaton Corporation plc [ETN] rating to an Outperform from a a Sector perform in a research note published on April 05, 2024; the price target was increased to $371 from $286. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in early April from “an Underweight” to “an Equal weight”. JP Morgan also remained covering ETN and has increased its forecast on October 06, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Wolfe Research revised its rating on July 11, 2023. It rated ETN as “a Peer perform” which previously was an “an Outperform”.
Price Performance Review of ETN
On Friday, Eaton Corporation plc [NYSE:ETN] saw its stock jump 3.23% to $330.51. Over the last five days, the stock has gained 5.70%. Eaton Corporation plc shares have risen nearly 37.24% since the year began. Nevertheless, the stocks have risen 103.70% over the past one year. While a 52-week high of $326.21 was reached on 04/05/24, a 52-week low of $155.38 was recorded on 01/03/24. SMA at 50 days reached $288.75, while 200 days put it at $236.69. A total of 2.64 million shares were traded, compared to the trading of 3.04 million shares in the previous session.
Levels Of Support And Resistance For ETN Stock
The 24-hour chart illustrates a support level at 325.04, which if violated will result in even more drops to 319.58. On the upside, there is a resistance level at 333.72. A further resistance level may holdings at 336.94. The Relative Strength Index (RSI) on the 14-day chart is 78.89, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 10.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.81%. Stochastics %K at 90.21% 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 Mar 15, 2024, growing by 50000.0 shares to a total of 3.63 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.58 million shares. There was a rise of 1.38%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.91% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.92.
The most recent change occurred on June 06, 2023 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $178 price target.
