Eaton CEO Dishes on Earnings Beat
Although the stock market tumbled Monday, “Mad Money” host Jim Cramer said investors can still find some winning stocks.
Take Eaton, for example. The diversified industrial manufacturer makes everything from electrical control products and power management systems to hydraulics. Like most industrials, its stock has been hammered lately, but Cramer thinks it might have bottomed. After all, the stock soared after the company reported a mixed quarter. It reported an earnings beat, but revenues were light and it cut its full-year guidance based on a weak global economy.
Cramer said he recommended Eaton’s stock last month for a few reasons. First, expectations were so low going into the quarter that if it wasn’t all that bad, he thought the stock would push higher. Second, he likes the company’s management team, including CEO Sandy Cutler. Of course, he’s a fan of the stock’s juicy 3.7 percent dividend yield, too.
(RELATED: Cramer's Top Dividend Stocks)
That said, Cramer thinks Eaton’s stock could continue to go higher. Cramer wanted to learn more about the quarter and the company’s prospects, though, so he welcomed Cutler onto Monday’s show. Check out the video to see the full interview.
When this story was published, Cramer's charitable trust owned Eaton.
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