Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eaton Corporation plc shares valued at $3,796,031 were sold by Monesmith Heath B. on Mar 11 ’24. At $291.40 per share, Monesmith Heath B. sold 13,027 shares. The insider’s holdings dropped to 69,472 shares worth approximately $21.55 million following the completion of this transaction.
Also, Szmagala Taras G. Jr. sold 8,157 shares, netting a total of over 2,390,625 in proceeds. Following the sale of shares at $293.08 each, the insider now holds 7,866 shares.
Before that, Yelton Michael had sold 2,615 shares from its account. In a trade valued at $767,956, the insider traded Eaton Corporation plc shares for $293.67 each. Upon closing the transaction, the insider’s holdings decreased to 2,615 shares, worth approximately $0.88 million.
As published in a research note from Wolfe Research on April 08, 2024, Eaton Corporation plc [ETN] has been rated down from a Peer perform to an Underperform. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in early April. As of April 02, 2024, Barclays has increased its “an Underweight” rating to a “an Equal weight” for ETN. Earlier on October 06, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for ETN stock which previously was a “a Neutral”.
Analyzing ETN Stock Performance
During the last five days, there has been a drop of approximately -1.33%. Over the course of the year, Eaton Corporation plc shares have jumped approximately 28.80%. Shares of the company reached a 52-week high of $331.47 on 04/05/24 and a 52-week low of $231.84 on 01/03/24. A 50-day SMA is recorded $298.54, while a 200-day SMA reached $241.47. Nevertheless, trading volume fell to 2.2 million shares from 1.55 million shares the previous day.
Support And Resistance Levels for Eaton Corporation plc (ETN)
According to the 24-hour chart, there is a support level at 305.12, which, if violated, would cause prices to drop to 300.07. In the upper region, resistance lies at 315.96. The next price resistance is at 321.74. RSI (Relative Strength Index) is 50.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.66, which suggests the price will decrease in the coming days. Percent R is at 83.08%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
