Jim Cramer on Eaton: “It is Just a Terrific Stock”

Eaton Corporation plc (NYSE:ETN) is one of the stocks that Jim Cramer recently shed light on. Inquiring about the stock, a caller expressed that they have been thinking about adding to their position. In response, Cramer said:

“I think you should. Now, my Charitable Trust owns it. We talk about it a lot for, we think it is just a terrific stock, and club members know we like it. By the way, I just, I think Vertiv’s a good company too. I just am not recommending that one right now.”

Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels

Eaton Corporation plc (NYSE:ETN) delivers power management solutions through electrical, aerospace, vehicle, and eMobility systems. The company’s products improve efficiency, safety, and reliability for industrial, commercial, and transportation applications. Cramer talked about the stock in a July episode, as he commented:

“We saw Eaton and Parker-Hannifin. If you’re from the Midwest, these are destination places… but those are a function of strong data center orders that came from lead contractors ABB and Legrand, two European construction companies that just reported that are huge builders of these warehouses full of servers. There’s no doubt that the data center buildout is the single biggest construction boom, perhaps since World War II. You can see it if you look at Oracle every day, by the way. I like the buildout. There are many many orders coming to them. I keep telling you these stocks are good… Eaton jumped more than $17 or nearly 5% as investing club holders know. That Eaton move turned my earnings season around because it’s a core position in my Charitable Trust.”

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Disclosure: None. This article is originally published at Insider Monkey.