10 Best Foreign Stocks With Dividends For Passive Income

2. Eaton Corporation plc (NYSE:ETN)

Dividend Yield as of February 3: 1.15%

Number of Hedge Fund Holders: 90

Eaton Corporation plc (NYSE:ETN) is based in Dublin, Ireland, and it operates as a power management company globally. The company focuses on power distribution, industrial components, hydraulic, fuel, and control systems for aircraft, transmissions, clutches, powertrain solutions, and electric vehicle components.

On January 27, investment advisory Jefferies maintained a Buy rating on Eaton Corporation plc (NYSE:ETN) but cut the price target to $390 from $440, right before the company announced its fourth-quarter results. Jefferies forecasted a double-digit earnings growth for ETN, noting that data centers would be a key catalyst for the firm. However, the investment firm warned of stock volatility given Eaton Corporation plc (NYSE:ETN)’s exposure to the tech sector.

In Q4 2024, Eaton Corporation plc (NYSE:ETN) reported a 4% year-over-year increase in earnings per share, which came in at $2.45. In 2025, the company expects earnings per share to be between $10.60 and $11 for the full year. The operating cash flow and free cash flow in Q4 2024 also jumped 23% and 27%, coming in at $1.6 billion and $1.3 billion, respectively. Sales for the year 2024 also rose 7% compared to 2023, clocking in at $24.9 billion. The company expects to repurchase between $2 billion and $2.4 billion of outstanding shares, while also focusing on strategic mergers and acquisitions. Eaton has shelled out dividends on its stock every year since 1923. It last paid a $0.94 per share quarterly dividend on November 22, 2024.

Insider Monkey tracks hedge fund movements, and Q3 data suggests that Eaton Corporation plc (NYSE:ETN) stock was held by 90 funds, compared to 93 in the prior quarter. Billionaire Philippe Laffont’s Coatue Management is the leading shareholder in the company, with 4.6 million shares worth $1.5 billion.