Calling out Honeywell (HON) and Eaton (ETN)
as preferred names earlier this year has worked out alright, as these
two diversified multi-industrials have continued to do well over the
past year, year-to-date, and three-month periods, with both really
standing out over the industrial sector over the past three months.
Despite
Eaton’s outperformance, the shares still look undervalued. I share some
of what I assume are the markets worries about the Vehicle and
Hydraulics businesses (about 20% of sales), but the business as a whole
seems to be on good footing and I believe the shares are undervalued on
very modest long-term growth expectations.
Read more here:
Eaton Outperforming And Still Undervalued, But Mind The Cycle
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