The industrial manufacturing conglomerate, **Eaton Corporation plc (ETN)** is garnering a significant amount of investor attention with its positive growth and strong earnings. Predominantly controlled by institutional shareholders, the corporation has been a subject of bullish sentiment by billionaires like Phillipe Laffont and Steve Cohen, being an attractive candidate in the AI Data Center category. The company has reported record earnings with a robust growth in Q4 2023 and surged on various tailwinds, leading to speculation of potential undervaluation. Analysts have raised price targets after the reports and the company has outperformed its competitors on trading days. Recent acquisitions by multiple investing firms like Envestnet Portfolio Solutions, Brookstone Capital Management, Accel Wealth Management, and others indicate growing faith in ETN's potential. The company's strong orders and backlog growth backed by its performance in the electrical and aerospace sectors have led to a boost in their 2024 guidance, and a 9% dividend increase. However, there are some concerns such as the underperformance compared to competitors on certain days.
