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UBS gives a Buy recommendation for Eaton Corporation plc (ETN)

In a filing, Eaton Corporation plc revealed its insider below. Szmagala Taras G. Jr. unloaded Company’s shares for reported $0.49 million on Nov 07 ’24. In the deal valued at $360.68 per share,1,360 shares were sold. As a result of this transaction, Szmagala Taras G. Jr. now holds 9,900 shares worth roughly $3.54 million.

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Then, ARNOLD CRAIG sold 61,569 shares, generating $22,224,453 in total proceeds. Upon selling the shares at $360.97, the insider now owns 506,360 shares.

Before that, Szmagala Taras G. Jr. bought 1,360 shares. Eaton Corporation plc shares valued at $490,528 were divested by the Officer at a price of $360.68 per share.

A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in mid November from “an Outperform” to “an In-line”. Bernstein began covering ETN with “an Outperform” recommendation on November 05, 2024. Citigroup started covering the stock on September 16, 2024. It rated ETN as “a Buy”.

Price Performance Review of ETN

On Monday, Eaton Corporation plc [NYSE:ETN] saw its stock fall -0.32% to $357.83. Over the last five days, the stock has lost -3.80%. Eaton Corporation plc shares have risen nearly 48.59% since the year began. Nevertheless, the stocks have risen 57.77% over the past one year. While a 52-week high of $373.49 was reached on 11/12/24, a 52-week low of $224.52 was recorded on 01/03/24. SMA at 50 days reached $337.19, while 200 days put it at $315.28.

Levels Of Support And Resistance For ETN Stock

The 24-hour chart illustrates a support level at 355.84, which if violated will result in even more drops to 353.84. On the upside, there is a resistance level at 360.53. A further resistance level may holdings at 363.22. The Relative Strength Index (RSI) on the 14-day chart is 57.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.73, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 30.06%. Stochastics %K at 73.26% indicates the stock is a holding.

How much short interest is there in Eaton Corporation plc?

A steep rise in short interest was recorded in Eaton Corporation plc stocks on 2024-10-31, dropping by -0.93 million shares to a total of 2.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 3.78 million shares. There was a decline of -32.86%, which implies that there is a negative sentiment for the stock.

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