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

Invesco Ltd. reduced its holdings in Eaton Co. plc (NYSE:ETN) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,379,435 shares of the industrial products company’s stock after selling 38,559 shares during the period. Invesco Ltd. owned about 0.86% of Eaton worth $1,121,533,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. United Bank acquired a new position in shares of Eaton in the third quarter worth $258,000. Morse Asset Management Inc bought a new position in shares of Eaton in the 3rd quarter valued at approximately $33,000. Worldquant Millennium Advisors LLC grew its holdings in Eaton by 19.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 7,263 shares of the industrial products company’s stock valued at $2,407,000 after purchasing an additional 1,158 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Eaton by 74.6% in the third quarter. Wellington Management Group LLP now owns 28,057 shares of the industrial products company’s stock valued at $9,299,000 after purchasing an additional 11,992 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in shares of Eaton by 52.0% in the third quarter. EP Wealth Advisors LLC now owns 30,080 shares of the industrial products company’s stock worth $9,970,000 after buying an additional 10,295 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of ETN stock opened at $246.36 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.46. Eaton Co. plc has a 12 month low of $222.60 and a 12 month high of $379.99. The company’s fifty day simple moving average is $296.43 and its 200-day simple moving average is $330.24. The firm has a market cap of $96.52 billion, a PE ratio of 25.93, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN) last posted its quarterly earnings results 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 period in the prior year, the business earned $2.55 earnings per share. Equities research analysts expect that Eaton Co. plc will post 12.02 EPS for the current fiscal year.

Eaton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $1.04 per share. This is an increase 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 annualized dividend and a dividend yield of 1.69%. Eaton’s payout ratio is presently 43.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ETN shares. JPMorgan Chase & Co. decreased their price target on shares of Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Melius lowered shares of 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. Royal Bank of Canada decreased their target price on Eaton from $405.00 to $376.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Barclays cut their target price on Eaton from $315.00 to $306.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Jefferies Financial Group cut their price target on shares of Eaton from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and a consensus price target of $356.68.

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.