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 $490,528 were sold by Szmagala Taras G. Jr. on Nov 07 ’24. At $360.68 per share, Szmagala Taras G. Jr. sold 1,360 shares. The insider’s holdings dropped to 9,900 shares worth approximately $3.67 million following the completion of this transaction.
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Also, ARNOLD CRAIG sold 61,569 shares, netting a total of over 22,224,453 in proceeds. Following the sale of shares at $360.97 each, the insider now holds 506,360 shares.
Before that, Szmagala Taras G. Jr. had added 1,360 shares to its account. In a trade valued at $490,528, the Officer bought Eaton Corporation plc shares for $360.68 each.
Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in mid November. As of November 05, 2024, Bernstein has initiated its “an Outperform” rating for ETN. Earlier on September 16, 2024, Citigroup initiated its rating. Their recommendation was “a Buy” for ETN stock.
Analyzing ETN Stock Performance
During the last five days, there has been a surge of approximately 2.51%. Over the course of the year, Eaton Corporation plc shares have jumped approximately 54.04%. Shares of the company reached a 52-week high of $373.49 on 11/12/24 and a 52-week low of $231.84 on 01/03/24. A 50-day SMA is recorded $341.32, while a 200-day SMA reached $316.69. Nevertheless, trading volume fell to 1.63 million shares from 1.46 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 364.47, which, if violated, would cause prices to drop to 357.99. In the upper region, resistance lies at 375.41. The next price resistance is at 379.87. RSI (Relative Strength Index) is 65.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.08, which suggests the price will increase in the coming days. Percent R is at 5.95%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
