Industrial stocks have been on a tear over the past year, with the sector up nearly 20% even after a recent pullback. Buying companies like Eaton (NYSE: ETN) and Emerson Electric (NYSE: EMR) today would mean paying top dollar, or close to it, anyway.

The valuations here make some sense because both have positioned themselves well for the future. But the sharp recent pullback in the industrial sector highlights that the market sometimes gets a little irrational, which could open up a better long-term buying opportunity if there's a deeper stock market pullback. Here's why these two stocks should be on your wish list today.

Eaton has a long history in managing power, but the type of power has changed over time. It started in the vehicle space over 100 years ago.

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Source Fool.com