Jim Cramer praises power management firm Eaton for an amazing quarter and Wall Street agrees
The company late Tuesday beat analysts' estimates for quarterly profits on high demand for its electrical components and equipment.
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CNBC's Jim Cramer says Eaton (ETN) just had the best quarter in the industrials sector.
The power management company late Tuesday beat analysts' estimates for quarterly profits on high demand for its electrical components and equipment.
Eaton's fiscal results highlight how well the firm is adapting to the industry's transition to renewable energy. In the earnings release, CEO Craig Arnold said the firm would be investing more than $1 billion of capital to support this growth.
Shares of Eaton were up over 3% on Wednesday.
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Cramer also highlighted the bull case for peer Caterpillar (CAT). The construction giant has a "terrific story" for 2023 on the back of increased government infrastructure spending, he said.
Cramer's Charitable Trust does not hold shares of Eaton but does have a stake in Caterpillar.
Here's a full list of the stocks in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.
