Eaton Corporation
By stlplace on Jun 22, 2009 in Investing
Eaton Corporation (Wiki entry; NYSE: ETN)
Secondary offering April 2008 (24×7wallst). They offered 17.5 millions of shares at $84, and the proceedings is about $1.43 billion.
Business Overview (diversified manufacturing)
Electricity power equipment; truck powertrain & fuel systems; aerospace fuel and hydraulics systems
Thesis
Upgrade of US electricity grid (near term, the US electricity infrastructure is tired), smart power grid (long term);
BRIC opportunities esp. China (I saw they have a lot manufacturing facilities in China).
Stock ownership
Dodge Cox added a big position in Q1 2009 (MSN moneyCentral)
Buffett also has bought a stake last year (GuruFocus).
