Eaton Corporation plc

“Eaton is a genuinely strong industrial compounder with durable electrical and aerospace franchises, solid cash generation, disciplined management, and favorable multi-year exposure to electrification, grid investment, and aircraft cycles. The main issue is not business quality but price: the stock already discounts a large portion of the upside, so future returns are likely to be respectable rather than exceptional unless earnings materially outperform current expectations.”