Invesco Ltd. Has $1.12 Billion Stake in Eaton Co. plc (NYSE:ETN)

Invesco Ltd. lowered its stake in shares of Eaton Co. plc (NYSE:ETN - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,379,435 shares of the industrial products company's stock after selling 38,559 shares during the period. Invesco Ltd. owned approximately 0.86% of Eaton worth $1,121,533,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton during the 4th quarter worth approximately $27,000. Noble Wealth Management PBC acquired a new stake in Eaton during the fourth quarter worth $30,000. Groupama Asset Managment increased its holdings in Eaton by 83.2% in the 3rd quarter. Groupama Asset Managment now owns 9,463 shares of the industrial products company's stock valued at $31,000 after buying an additional 4,298 shares during the period. Horizon Bancorp Inc. IN raised its stake in shares of Eaton by 321.7% in 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 shares of Eaton during the 3rd quarter worth about $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Trading Up 2.4 %

Shares of NYSE ETN traded up $6.41 during midday trading on Friday, hitting $277.13. The stock had a trading volume of 3,833,121 shares, compared to its average volume of 2,620,567. 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 fifty-two week low of $231.85 and a fifty-two week high of $379.99. The firm has a market cap of $108.57 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The company's 50-day simple moving average is $289.36 and its 200 day simple moving average is $327.22.

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Eaton (NYSE:ETN - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The industrial products company reported $2.83 earnings per share for the quarter, topping the consensus estimate 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 company posted $2.55 earnings per share. Research analysts anticipate that Eaton Co. plc will post 12.02 EPS for the current year.

Eaton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $1.04 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Eaton's previous quarterly dividend of $0.94. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. Eaton's dividend payout ratio (DPR) is presently 43.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Melius Research reissued a "hold" rating and issued a $373.00 target price on shares of Eaton in a research note on Tuesday, January 28th. StockNews.com cut Eaton from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Jefferies Financial Group decreased their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, KeyCorp reduced their target price on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $355.06.

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.