Recession Already Priced into Eaton (ETN); Buy Now! - Cramer
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Price: $437.32 -3.97%
Rating Summary:
30 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 26
Rating Summary:
30 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 26
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Eaton Corp. (NYSE: ETN) shares are sitting solidly higher Thursday following a bullish recommendation by insightful investor Jim "Stockasaurus" Cramer.
On last night's Mad Money, Cramer said with shares down 28 percent from recent highs, and down 7 percent over the last 30-day period, Eaton is trading at a very attractive level.
At these prices, Cramer believes investors have priced in a full recession despite Eaton being less cyclical than it once was. Eaton currently handles everything from aerospace to autos. Cramer is bullish on Eaton for it's stellar balance sheet, solid management and tight cost controls.
In investing into Eaton, Cramer suggests buying in increments, and using the company's dividend yield as a guide. He said to buy now, and add-on as Eaton's yield moves toward 4.25 percent. At 34 cents per share, the dividend is currently yielding 3.5 percent annually.
Eaton is trading about 3 percent higher Thursday afternoon.
On last night's Mad Money, Cramer said with shares down 28 percent from recent highs, and down 7 percent over the last 30-day period, Eaton is trading at a very attractive level.
At these prices, Cramer believes investors have priced in a full recession despite Eaton being less cyclical than it once was. Eaton currently handles everything from aerospace to autos. Cramer is bullish on Eaton for it's stellar balance sheet, solid management and tight cost controls.
In investing into Eaton, Cramer suggests buying in increments, and using the company's dividend yield as a guide. He said to buy now, and add-on as Eaton's yield moves toward 4.25 percent. At 34 cents per share, the dividend is currently yielding 3.5 percent annually.
Eaton is trading about 3 percent higher Thursday afternoon.
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