14 Best Industrial Dividend Stocks to Buy According to Analysts

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9. Eaton Corporation plc (NYSE:ETN)

Number of Hedge Fund Holders: 72

Upside Potential as of November 30: 13.62%

Dividend Yield as of November 28: 1.76%

Eaton Corporation plc (NYSE:ETN) is one of the best industrial stocks to buy. On November 7, Wells Fargo analyst Joe O’Dea maintained a Hold recommendation on Eaton Corp, along with a price target of $395.

Separately, a Reuters report dated November 4 revealed that Eaton plans to purchase Boyd Corporation’s thermal business from Goldman Sachs Asset Management in a $9.5 billion deal. This will be the company’s fourth transaction this year in a bid to strengthen its data center capacity and meet the expanding AI demand. Regarding this deal, Reuters quoted RBC Capital Markets’ analyst Deane Dray, who said:

“What is impressive to us is that Eaton has gone “all-in” in liquid cooling with this chunky deal size, rather than dipping its toe in with a small investment like the other players have done.”

Eaton mentioned that anticipated sales for Boyd Thermal in 2026 amount to $1.7 billion, most of which will be generated from the liquid cooling technology employed at data centers. This transaction value reflects 22.5x Boyd’s estimated EBITDA for 2026. The Boyd acquisition is projected to conclude in Q2 2026, and it would strengthen Eaton’s adjusted earnings starting in the second year after closing the transaction. After the sale to Eaton, Goldman Sachs will continue to support Boyd’s engineered materials business.

Eaton CEO Paulo Ruiz commented:

“Our combined expertise in both power and liquid cooling from the chip to the grid will enable customers to manage increasing power demands more effectively,”

Eaton Corporation plc (NYSE:ETN) is based in Dublin, Ireland. The global power management company operates via Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility segments.

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