Aon PLC (NYSE: AON) shares fell in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Barclays PLC reiterated a Hold rating on shares of Aon PLC (NYSE: AON) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. With a rating of Hold on the stock, Aon PLC has a 52-week high of $116.59. As a means of comparison, a number of other analysts have commented on the company recently, and Aon PLC has earned a consensus one-year price target of $119.80, above the opening price of $113.91, a difference of 10.52 percent. Share prices sometimes get a bounce to the upside when analysts reiterate coverage.
Shares of Aon PLC (NYSE: AON) opened at $113.91 yesterday and traded in a range between, $113.60 and $114.00, and last traded at $113.90, which is a drop of $0.45 over the previous closing price.
Aon PLC (NYSE: AON) now has a market cap of 29.97B.
Aon PLC (NYSE: AON) Average Daily Trading Volume
The stock’s average daily volume is 1,043,620 shares out of a total float 258,134,000 and some 64,309 shares crossed the trading desk yesterday, 103 percent below the norm. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Aon PLC (NYSE: AON) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Aon PLC (NYSE: AON) have ranged from $83.83 – 116.59, and the stock now has a 50-day MA of $112.75 and 200-day MA of $110.65. Today’s last price is 2.31%% lower than the 52 week high of $116.59.
Earnings growth is a critical factor to consider when investing in stocks and investors identify companies that have increased their earnings by at least 25% over the past 3 years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.