Eaton Corporation PLC (ETN) : Wednesdays money flow points at investors jumping to buy the stock on the weakness of price. $2.46 million worth of transactions were on upticks, whereas, the downticks accounted for $0.77 million worth of transactions. The net money flow was a positive $1.69 million and the uptick to downtick ratio was 3.19. The net money flow into the stock was $1.81 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $1.81 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Eaton Corporation PLC (ETN) was trading at $62.87, down $0.18 during day. The stock slid -0.29% over the previous days close. For the week, the stock recorded -1.5% over the previous weeks close.
Also, Bank of America downgrades its rating on Eaton Corporation PLC (NYSE:ETN). Analysts at the Bank of America have a current rating of Neutral on the shares. The shares were previously rated Buy. The rating by the firm was issued on July 14, 2016.
Eaton Corporation PLC (NYSE:ETN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $63.15 and $62.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $63.50, notching a gain of 0.71% for the day. The total traded volume was 1,697,487 . The stock had closed at $63.05 on the previous day.
The stock has recorded a 20-day Moving Average of 4.13% and the 50-Day Moving Average is 3.73%. In a related news, Mcguire Mark M, officer (See Remarks below.) of Eaton Corp Plc, unloaded 18,751 shares at an average price of $63.04 on June 7, 2016. The total amount of the transaction was worth $1,182,063, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.