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

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

Several other hedge funds have also recently bought and sold shares of the stock. Breakwater Investment Management boosted its stake in Eaton by 1,560.0% in the 2nd quarter. Breakwater Investment Management now owns 83 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 78 shares during the period. Proffitt & Goodson Inc. acquired a new stake in shares of Eaton during the second quarter worth $29,000. Morse Asset Management Inc bought a new stake in shares of Eaton in the third quarter valued at about $33,000. LGT Financial Advisors LLC acquired a new position in shares of Eaton in the second quarter valued at about $33,000. Finally, West Financial Advisors LLC bought a new position in Eaton during the third quarter worth about $35,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eaton news, insider Ernest W. Marshall, Jr. sold 1,412 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 31,200 shares of the company's stock, valued at approximately $11,811,696. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory R. Page sold 4,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $17,241,796.60. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,981 shares of company stock valued at $24,100,317 over the last 90 days. 0.53% of the stock is owned by insiders.

Eaton Price Performance

Shares of ETN traded down $5.51 during trading hours on Tuesday, reaching $358.55. The stock had a trading volume of 1,891,098 shares, compared to its average volume of 2,088,361. The stock has a market capitalization of $141.70 billion, a PE ratio of 38.14, a PEG ratio of 2.81 and a beta of 1.03. Eaton Co. plc has a 12 month low of $231.84 and a 12 month 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 company's 50-day moving average is $353.40 and its two-hundred day moving average is $325.99.

Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.04. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.37 billion. Eaton had a return on equity of 21.97% and a net margin of 15.32%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. Research analysts expect that Eaton Co. plc will post 10.8 EPS for the current year.

Eaton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.05%. Eaton's dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ETN. Wolfe Research upgraded shares of Eaton from an "underperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Sanford C. Bernstein assumed coverage on Eaton in a research note on Tuesday, November 5th. They set an "outperform" rating and a $382.00 price objective on the stock. Barclays upped their target price on Eaton from $320.00 to $353.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Wells Fargo & Company raised their price target on Eaton from $315.00 to $342.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, Mizuho upped their price objective on shares of Eaton from $365.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $367.83.

Eaton 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.