$64.62
-0.04 (-0.06%)
Eaton Corp (ETN)
CAPS Rating:
The Company is a manufacturer and engaged in design, manufacture, marketing and servicing of fluid power systems for industrial, mobile, and aircraft equipment; and electrical systems and components for power quality, distribution and control.
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Solid company. Consistent dividend since 1987. The stock has taken a huge hit in response to the machine and automobile industry as a whole (see LEA, F, GM, GR,...). Yet, Eaton ISN'T the Auto Industry. It is the "let's make the machine and auto industries more efficient"-Industry. There is a big difference. Even if Eaton stays where it is for the next three years as it did from 2000 to 2003, which it very well could, it will still be worth the dividend reinvestment. regardless, it currently sits at a tremendous price and volume support level with an incredible track record on the part of management and general market share growth during the past 15 years. Eaton has grown itself into a very important US company and with its expansion overseas (three acquisitions in Europe recently completed and several others in Asia underway) they are getting ready for Global Expansion Part II. This is a great time to get invested in ETN, even if it continues to fall an additional 10%-15% from current levels; just let the dividends buy the stock at a lower price, you'll be happy you did five years from now.