Nomura Asset Management Co. Ltd. Has $64.69 Million Stock Position in Eaton Co. plc (NYSE:ETN)

Nomura Asset Management Co. Ltd. cut its position in Eaton Co. plc (NYSE:ETN) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,171 shares of the industrial products company’s stock after selling 23,213 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Eaton were worth $64,687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Breakwater Investment Management increased its holdings in shares of Eaton by 1,560.0% during the second quarter. Breakwater Investment Management now owns 83 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 78 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in Eaton during the 2nd quarter valued at $29,000. Morse Asset Management Inc acquired a new position in Eaton during the third quarter worth $33,000. LGT Financial Advisors LLC bought a new position in shares of Eaton in the second quarter valued at $33,000. Finally, West Financial Advisors LLC acquired a new position in shares of Eaton during the third quarter valued at about $35,000. 82.97% of the stock is owned by institutional investors.

Eaton Trading Down 1.9 %

Shares of ETN opened at $364.09 on Tuesday. The firm has a market cap of $143.89 billion, a P/E ratio of 38.73, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03. Eaton Co. plc has a fifty-two week low of $231.84 and a fifty-two week high of $379.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.53. The business has a 50-day moving average of $353.40 and a 200 day moving average of $325.99.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 earnings per share. As a group, research analysts forecast that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, November 4th. Eaton’s payout ratio is currently 40.00%.

Insider Activity

In other Eaton news, Director Gregory R. Page sold 4,000 shares of Eaton stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $335.30, for a total transaction of $1,341,200.00. Following the completion of the transaction, the director now owns 51,422 shares of the company’s stock, valued at $17,241,796.60. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,981 shares of company stock worth $24,100,317. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Eaton in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $382.00 price target on the stock. UBS Group initiated coverage on Eaton in a research report on Wednesday, November 13th. They set a “buy” rating and a $431.00 target price on the stock. Jefferies Financial Group increased their price target on Eaton from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Friday. Mizuho upped their target price on shares of Eaton from $365.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Raymond James dropped their price target on shares of Eaton from $375.00 to $365.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $367.83.

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.