Why Is ETN Falling Today?

Eaton shares fell -1.4% this morning to a price of $185.91. The stock is still trading within range of its average target price of $191.71, and over the last 52 weeks, it has recorded a 32.4% performance. Analysts have given the large-cap Farm & Heavy Construction Machinery stock target prices ranging from $159.0 to $221.0 dollars per share, with an average rating of buy.

Eaton's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.1%. The stock's short ratio is 2.71. The company's insiders own 0.27% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 84.0%. In conclusion, we believe there is mixed market sentiment regarding Eaton.

Institutions Invested in Eaton

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group, Inc. (The) 9% 36,041,158 $6,700,411,815
2023-03-31 Blackrock Inc. 7% 27,126,992 $5,043,179,182
2023-03-31 JP Morgan Chase & Company 5% 19,311,072 $3,590,121,466
2023-03-31 State Street Corporation 4% 16,538,340 $3,074,642,849
2023-03-31 Massachusetts Financial Services Co. 4% 14,590,569 $2,712,532,736
2023-03-31 Bank of America Corporation 4% 14,162,306 $2,632,914,360
2023-03-31 Morgan Stanley 3% 13,012,437 $2,419,142,210
2023-03-31 FMR, LLC 3% 10,075,604 $1,873,155,576
2023-03-31 Geode Capital Management, LLC 2% 7,084,548 $1,317,088,344
2023-03-31 Price (T.Rowe) Associates Inc 2% 6,390,228 $1,188,007,310
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.