Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eaton Corporation plc shares valued at $662,162 were purchased by Thompson Dorothy C on Sep 03 ’24. At $300.30 per share, Thompson Dorothy C acquired 2,205 shares. The insider’s holdings grew to 2,205 shares worth approximately $0.69 million following the completion of this transaction.
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Also, Thompson Dorothy C sold 2,205 shares, netting a total of over 661,809 in proceeds. Following the sale of shares at $300.14 each, the insider now holds 798 shares.
Before that, Yelton Michael had sold 3,136 shares from its account. In a trade valued at $950,584, the insider traded Eaton Corporation plc shares for $303.12 each. Upon closing the transaction, the insider’s holdings decreased to 3,136 shares, worth approximately $1.23 million.
As published in their initiating research note from Citigroup on September 16, 2024, Eaton Corporation plc [ETN] has been a Buy and the price target has been revised to $348. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early September. As of September 06, 2024, Morgan Stanley has initiated its “an Overweight” rating for ETN. Earlier on June 28, 2024, Raymond James initiated its rating. Their recommendation was “an Outperform” for ETN stock.
Analyzing ETN Stock Performance
During the last five days, there has been a surge of approximately 5.89%. Over the course of the year, Eaton Corporation plc shares have jumped approximately 30.66%. Shares of the company reached a 52-week high of $345.19 on 05/24/24 and a 52-week low of $231.84 on 01/03/24. A 50-day SMA is recorded $300.34, while a 200-day SMA reached $293.18. Nevertheless, trading volume fell to 2.93 million shares from 2.12 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 311.75, which, if violated, would cause prices to drop to 308.85. In the upper region, resistance lies at 319.35. The next price resistance is at 324.05. RSI (Relative Strength Index) is 63.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 12.82, which suggests the price will increase in the coming days. Percent R is at 16.33%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
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