The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Eaton Corporation plc shares valued at $22,224,453 were sold by ARNOLD CRAIG on Nov 06 ’24. At $360.97 per share, ARNOLD CRAIG sold 61,569 shares. The insider’s holdings dropped to 506,360 shares worth approximately $182.57 million following the completion of this transaction.
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Also, Szmagala Taras G. Jr. purchased 1,360 shares, netting a total of over 490,528 in proceeds.
Before that, ARNOLD CRAIG had added 61,659 shares to its account. In a trade valued at $22,224,452, the Officer bought Eaton Corporation plc shares for $360.44 each.
As published in their initiating research note from Bernstein on November 05, 2024, Eaton Corporation plc [ETN] has been an Outperform and the price target has been revised to $382. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of September 06, 2024, Wolfe Research has increased its “an Underperform” rating to a “Peer perform” for ETN. Earlier on September 06, 2024, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for ETN stock.
Analyzing ETN Stock Performance
During the last five days, there has been a surge of approximately 8.74%. Over the course of the year, Eaton Corporation plc shares have jumped approximately 49.72%. Shares of the company reached a 52-week high of $366.08 on 11/06/24 and a 52-week low of $231.84 on 01/03/24. A 50-day SMA is recorded $327.01, while a 200-day SMA reached $311.36. Nevertheless, trading volume fell to 2.36 million shares from 4.02 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 357.94, which, if violated, would cause prices to drop to 355.33. In the upper region, resistance lies at 363.16. The next price resistance is at 365.76. RSI (Relative Strength Index) is 67.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.54, which suggests the price will increase in the coming days. Percent R is at 12.35%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
