Nemes Rush Group LLC Lowers Stake in Eaton Co. plc (NYSE:ETN)

Nemes Rush Group LLC reduced its position in Eaton Co. plc (NYSE:ETN) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,626 shares of the industrial products company’s stock after selling 101 shares during the quarter. Eaton makes up about 3.2% of Nemes Rush Group LLC’s holdings, making the stock its 5th largest position. Nemes Rush Group LLC’s holdings in Eaton were worth $25,762,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC bought a new stake in Eaton in the 4th quarter valued at about $27,000. Noble Wealth Management PBC purchased a new position in shares of Eaton in the fourth quarter worth about $30,000. Groupama Asset Managment raised its position in shares of Eaton by 83.2% in the third quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 4,298 shares during the period. Horizon Bancorp Inc. IN lifted its stake in shares of Eaton by 321.7% during the 4th quarter. Horizon Bancorp Inc. IN now owns 97 shares of the industrial products company’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in Eaton in the 3rd quarter worth approximately $33,000. 82.97% of the stock is currently owned by institutional investors.

Eaton Trading Down 0.8 %

NYSE ETN opened at $271.98 on Tuesday. The stock’s 50-day simple moving average is $304.41 and its two-hundred day simple moving average is $331.44. Eaton Co. plc has a twelve month low of $255.65 and a twelve month high of $379.99. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $106.55 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.01. Eaton had a return on equity of 22.62% and a net margin of 15.25%. During the same quarter in the previous year, the business posted $2.55 EPS. Research analysts forecast that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on ETN. Melius downgraded Eaton from a “buy” rating to a “hold” rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. Citigroup dropped their price objective on Eaton from $440.00 to $410.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on Eaton from $350.00 to $348.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Melius Research restated a “hold” rating and issued a $373.00 price objective on shares of Eaton in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Eaton from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $357.16.

Eaton Company Profile

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.