Nemes Rush Group LLC Decreases Stock Holdings in Eaton Co. plc (NYSE:ETN)

Nemes Rush Group LLC trimmed its holdings in Eaton Co. plc (NYSE:ETN) by 0.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,563 shares of the industrial products company’s stock after selling 104 shares during the quarter. Eaton makes up approximately 3.4% of Nemes Rush Group LLC’s holdings, making the stock its 5th biggest position. Nemes Rush Group LLC’s holdings in Eaton were worth $24,634,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gryphon Financial Partners LLC boosted its stake in Eaton by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,348 shares of the industrial products company’s stock valued at $565,000 after buying an additional 1,053 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in Eaton in the 4th quarter worth approximately $554,000. J. W. Coons Advisors LLC raised its holdings in shares of Eaton by 2.1% during the 4th quarter. J. W. Coons Advisors LLC now owns 12,979 shares of the industrial products company’s stock worth $3,126,000 after acquiring an additional 265 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of Eaton by 206.1% during the 4th quarter. Scotia Capital Inc. now owns 24,381 shares of the industrial products company’s stock valued at $5,871,000 after acquiring an additional 16,417 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Eaton by 70.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,944 shares of the industrial products company’s stock valued at $1,191,000 after purchasing an additional 2,048 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eaton

In other Eaton news, insider Heath B. Monesmith sold 49,040 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $301.02, for a total transaction of $14,762,020.80. Following the transaction, the insider now owns 71,262 shares of the company’s stock, valued at approximately $21,451,287.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eaton news, insider Taras G. Jr. Szmagala sold 335 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $288.72, for a total transaction of $96,721.20. Following the sale, the insider now owns 9,900 shares of the company’s stock, valued at approximately $2,858,328. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heath B. Monesmith sold 49,040 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $301.02, for a total value of $14,762,020.80. Following the completion of the transaction, the insider now directly owns 71,262 shares of the company’s stock, valued at $21,451,287.24. The disclosure for this sale can be found here. Insiders sold 52,511 shares of company stock worth $15,809,326 over the last three months. 0.53% of the stock is owned by corporate insiders.

Eaton Trading Down 1.4 %

Shares of ETN opened at $328.45 on Friday. The firm has a market capitalization of $131.31 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 2.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.56 and a quick ratio of 1.07. Eaton Co. plc has a 1-year low of $191.82 and a 1-year high of $345.19. The company has a 50-day moving average of $301.03 and a 200 day moving average of $313.73.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.12. Eaton had a net margin of 15.12% and a return on equity of 21.45%. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.35 billion. On average, research analysts expect that Eaton Co. plc will post 10.75 EPS for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.76 annualized dividend and a dividend yield of 1.14%. Eaton’s dividend payout ratio is currently 44.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Raymond James decreased their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research note on Monday, September 9th. Morgan Stanley started coverage on shares of Eaton in a report on Friday, September 6th. They issued an “overweight” rating and a $370.00 price target for the company. Wells Fargo & Company decreased their price objective on Eaton from $320.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada dropped their target price on Eaton from $376.00 to $371.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Eaton presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.41.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.