Nemes Rush Group LLC Trims Position in Eaton Co. plc (NYSE:ETN)

Nemes Rush Group LLC lowered its stake in Eaton Co. plc (NYSE:ETN) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 77,626 shares of the industrial products company’s stock after selling 101 shares during the quarter. Eaton accounts for 3.2% of Nemes Rush Group LLC’s portfolio, making the stock its 5th biggest position. Nemes Rush Group LLC’s holdings in Eaton were worth $25,762,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Flagship Wealth Advisors LLC bought a new stake in Eaton during the 4th quarter valued at $27,000. Noble Wealth Management PBC bought a new position in shares of Eaton during the fourth quarter valued at about $30,000. Horizon Bancorp Inc. IN boosted its holdings in shares of Eaton by 321.7% during the fourth quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 74 shares during the period. Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter worth about $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Eaton during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of Eaton stock opened at $271.98 on Tuesday. The stock has a market cap of $106.55 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. Eaton Co. plc has a 1 year low of $255.65 and a 1 year high of $379.99. The firm’s 50-day moving average is $304.41 and its 200 day moving average is $331.44.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter in the prior year, the company earned $2.55 earnings per share. Sell-side analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.16 annualized dividend and a dividend yield of 1.53%. This is a boost from Eaton’s previous quarterly dividend of $0.94. Eaton’s payout ratio is currently 43.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ETN shares. Barclays cut their price objective on Eaton from $325.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Jefferies Financial Group reduced their price objective on shares of Eaton from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. StockNews.com cut shares of Eaton from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Citigroup reduced their price target on shares of Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, KeyCorp raised Eaton from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.16.

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.