Hi 77xander,
The short answer is yes.
You can refer to the following article to set up Directory Synchronization (DirSync) filtering to filter the corresponding on-premise users.
http://technet.microsoft.com/en-us/library/jj710171.aspx
In this case, you can set up Organizational-unit (OU)–based filtering options to achieve the goal.
Moreover, if you need any assistance when setting up the DirSync filtering, please feel free to let me know. We’re very glad to help you.
Thanks,
Claud