If you think this diversified manufacturer just put up a bad report, Cramer says think again.
Of course, Cramer understands your skepticism.
In its most recent release, Eaton said it expects an adjusted full-year profit of between $4.05 and $4.15 per share, down from its previous forecast of $4.05-$4.25 per share.
Analysts had expected $4.18 per share.
Eaton also reported lower-than-expected quarterly revenue, citing weakness in the heavy-duty truck and hydraulic systems markets.
In addition, the company, whose products range from truck transmissions to aircraft fuel systems, said it expects its markets to be flat in 2013, compared with its previous estimate of a 1 percent growth.
All told, developments would seem rather bearish for Eaton – or at least Eaton shareholders.