In the context of my general view of “long-cycle good, short-cycle bad”, Eaton’s (ETN) performance was largely as I expected in the first quarter. The stock performance also continues to support my general idea that Eaton, along with Honeywell (HON) is a better-than-average choice right now, as the shares have outperformed its industrial peers since the fourth quarter report (though not keeping pace with Honeywell!).
I still have my worries about shorter-cycle industrial markets, but I think Eaton’s broad exposure to a wide range of end-markets across a wide range