Eaton Corporation PLC (ETN): Today's Featured Industrial Goods Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Eaton Corporation ( ETN) pushed the Industrial Goods sector higher today making it today's featured industrial goods winner. The sector as a whole closed the day up 1%. By the end of trading, Eaton Corporation rose $1.33 (2.1%) to $63.35 on light volume. Throughout the day, 2.6 million shares of Eaton Corporation exchanged hands as compared to its average daily volume of 3.5 million shares. The stock ranged in a price between $62.24-$63.42 after having opened the day at $62.50 as compared to the previous trading day's close of $62.02. Other companies within the Industrial Goods sector that increased today were: Tri-Tech ( TRIT), up 16.8%, Coleman Cable ( CCIX), up 11.6%, Frontline ( FRO), up 8.3%, and Ultralife Batteries ( ULBI), up 7.5%.
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Eaton Corporation operates as a diversified power management company worldwide. Eaton Corporation has a market cap of $29.14 billion and is part of the industrial industry. The company has a P/E ratio of 18.1, above the S&P 500 P/E ratio of 17.7. Shares are up 14.5% year to date as of the close of trading on Thursday. Currently there are 10 analysts that rate Eaton Corporation a buy, one analyst rates it a sell, and four rate it a hold.

TheStreet Ratings rates Eaton Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR ( XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 ( DOG).

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