Short Interest to Follow: Eaton Corporation Plc Ord (NYSE:ETN)’s Trend Unknown, Especially After Increased Shorts

November 29, 2016 - By Winifred Garcia   ·   0 Comments

Short Interest to Follow: Eaton Corporation Plc Ord (NYSE:ETN)’s Trend Unknown, Especially After Increased Shorts

The stock of Eaton Corporation Plc Ord (NYSE:ETN) registered an increase of 21.15% in short interest. ETN’s total short interest was 7.60 million shares in November as published by FINRA. Its up 21.15% from 6.27 million shares, reported previously. With 2.57 million shares average volume, it will take short sellers 3 days to cover their ETN’s short positions. The short interest to Eaton Corporation Plc Ord’s float is 1.82%. The stock closed at $65.98 during the last session. It is down 4.32% since April 26, 2016 and is uptrending. It has underperformed by 0.94% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.12, from 1.19 in 2016Q1. The ratio worsened, as 68 funds sold all Eaton Corporation, PLC Ordinary Shares shares owned while 236 reduced positions. 78 funds bought stakes while 285 increased positions. They now own 324.53 million shares or 1.55% less from 329.64 million shares in 2016Q1.
Stellar Capital Mgmt Limited Liability Com last reported 33,040 shares in the company. Assetmark has invested 0% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Boston Family Office Ltd holds 0.03% or 3,940 shares in its portfolio. First Citizens Bank And Tru Company has 34,865 shares for 0.19% of their US portfolio. First Houston Cap has 20,800 shares for 1.15% of their US portfolio. Wellington Mngmt Group Llp last reported 35.11 million shares in the company. Prudential, a New Jersey-based fund reported 2.78 million shares. Segall Bryant And Hamill Ltd Liability holds 0.02% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 12,145 shares. Aberdeen Asset Public Ltd Llc Uk holds 0.02% or 112,575 shares in its portfolio. Gemmer Asset Ltd Limited Liability Company last reported 618 shares in the company. The California-based Rnc Capital Ltd has invested 0.19% in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Sfe Counsel accumulated 14,999 shares or 0.42% of the stock. Cibc Asset Management Inc holds 0.02% of its portfolio in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) for 54,223 shares. The Florida-based Cap City Fl has invested 0.45% in Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). Smithfield Trust accumulated 0.14% or 12,868 shares.

Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) Ratings Coverage

Out of 21 analysts covering Eaton Corporation (NYSE:ETN), 4 rate it a “Buy”, 2 “Sell”, while 15 “Hold”. This means 19% are positive. Eaton Corporation has been the topic of 41 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was upgraded by Vertical Research on Wednesday, August 26 to “Hold”. CLSA initiated it with “Underperform” rating and $54 target price in Monday, October 19 report. The rating was downgraded by Barclays Capital on Monday, October 5 to “Equal-Weight”. KeyBanc Capital Markets downgraded the stock to “Sector Weight” rating in Friday, September 9 report. Deutsche Bank maintained it with “Hold” rating and $65 target price in Tuesday, August 25 report. The rating was maintained by Buckingham Research on Monday, May 2 with “Neutral”. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) has “Buy” rating given on Friday, October 7 by HSBC. The firm has “Buy” rating given on Wednesday, January 20 by Standpoint Research. The stock of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) earned “Neutral” rating by JP Morgan on Friday, October 9. The stock has “Neutral” rating given by William Blair on Thursday, October 15.

ETN Company Profile

Eaton Corporation plc (Eaton), incorporated on May 10, 2012, is a power management company. The Firm provides energy-efficient solutions that help its clients to manage electrical, hydraulic and mechanical power. The Firm sells products to clients in over 175 countries. The Firm operates in four divisions: Electrical Products and Electrical Systems and Services, Hydraulics, Aerospace and Vehicle.

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By Winifred Garcia

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