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ETN

Eaton

$79.88

0.85 (1.08%)

, TDG

TransDigm

$483.48

-4.6 (-0.94%)

08:36
07/22/19
07/22
08:36
07/22/19
08:36

Eaton to acquire Souriau-Sunbank Connection business of TransDigm for $920M

Eaton (ETN) announced it has committed to acquire the Souriau-Sunbank Connection Technologies business of TransDigm (TDG) for $920M, which represents a trailing 12-month EBITDA multiple of approximately 12x. Headquartered in Versailles, France, Souriau-Sunbank specializes in highly engineered electrical interconnect solutions for harsh environments for customers in the aerospace, defense, industrial, energy and transport industries. Founded over 100 years ago, the company has a workforce of approximately 3,200 people and manufacturing facilities in France, the Dominican Republic, India, Morocco, Mexico and the United States. For the trailing 12-month period ending June 30, sales of the business were $363M. Completion of the acquisition is subject to the required consultation processes with works councils, customary closing conditions, regulatory approvals, and TransDigm's completion of other required steps. The transaction is expected to close by the end of 2019 and be accretive to adjusted earnings per share in 2020.

ETN

Eaton

$79.88

0.85 (1.08%)

TDG

TransDigm

$483.48

-4.6 (-0.94%)

  • 30

    Jul

ETN Eaton
$79.88

0.85 (1.08%)

04/17/19
KEYB
04/17/19
NO CHANGE
KEYB
Ametek, ITT among top potential acquirers in industrial space, says KeyBanc
KeyBanc analysts Jeff Hammond and Steve Barger think moderating organic growth expectations in 2019 due to tough year over year comps may drive industrials to increasingly look toward inorganic avenues for market outgrowth, or to potentially divest businesses to right-size portfolios. The analysts view Ametek (AME), ITT (ITT), Graco (GGG), and Timken (TKR) as the top potential acquirers, and think Actuant (ATU), Colfax (CFX), Eaton (ETN), Kaman (KAMN), NN, Inc. (NNBR), and Milacron (MCRN) could benefit most from a strategic divestiture.
06/04/19
JPMS
06/04/19
NO CHANGE
JPMS
May Class 8 truck orders drop 70% year-over-year, says JPMorgan
According to ACT Research, Class 8 net orders in May were 10,800 units, down 70% year-over-year, JPMorgan analyst Ann Duignan tells investors in a research note. The analyst points out that truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN).
06/19/19
JPMS
06/19/19
NO CHANGE
JPMS
Truck stocks likely to be down on final May data, says JPMorgan
ACT Research yesterday released final truck data for May, and North America Class 8 retail sales were 29,278 units, up 17% year-over-year and up 1% month-over-month, JPMorgan analyst Ann Duignan tells investors in a research note. Builds were 31,519 units in the month, up 32% year-over-year and up 2% month-over-month, while the cancellation rate increased sharply to 22.8% in May, adds the analyst. She thinks the stocks in the truck group will likely be down on the data. Truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN), according to Duignan.
07/02/19
JPMS
07/02/19
NO CHANGE
JPMS
June Class 8 truck orders drop 69% year-over-year, says JPMorgan
According to ACT Research, Class 8 net orders in June were 13,000 units, down 69% year-over-year, JPMorgan analyst Ann Duignan tells investors in a research note. The analyst points out that truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN).
TDG TransDigm
$483.48

-4.6 (-0.94%)

04/09/19
LBOW
04/09/19
INITIATION
LBOW
Neutral
Longbow starts TransDigm at Neutral despite expected guidance hike
As previously reported, Longbow analyst Chris Olin initiated TransDigm with a Neutral rating, stating that while he expects management to raise full-year guidance in early May, he believes investor already appear to be expecting a positive FY19 outlook given the 30% appreciation in the shares since late January and the stock's current valuation. Olin said he has a "slightly conservative" outlook for legacy TransDigm, with his variance to consensus due to lower commercial OEM organic growth assumptions.
05/08/19
ADAM
05/08/19
NO CHANGE
Target $520
ADAM
Buy
TransDigm price target raised to $520 from $460 at Canaccord
Canaccord analyst Ken Herbert raised his price target for TransDigm to $520 from $460 and maintained a Buy rating following the company's Q2 results, saying the company raised its financial guidance to reflect better performance on the base business as well as to now reflect the 6.5-month contribution from Esterline Technologies. Excluding Esterline organic growth in the commercial AM was 6%, up 10% in the commercial OE market, and defense sales were up an "impressive" 18%, Herbert says.
05/08/19
FBCO
05/08/19
NO CHANGE
Target $539
FBCO
Outperform
TransDigm price target raised to $539 from $476 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Transdigm to $539 from $476 following another "solid" quarter. The analyst reiterates an Outperform rating on the shares.
06/04/19
MSCO
06/04/19
INITIATION
Target $520
MSCO
Equal Weight
TransDigm initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Rajeev Lalwani resumed coverage of TransDigm with an Equal Weight rating and $520 price target, citing his view that management has addressed many investor concerns, but that a resurfacing DoD investigation makes a pause in the stock probable after some "well-deserved outperformance."

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Akamai

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Provention Bio

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DRI

Darden

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XGN

Exagen

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PING

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$0.00

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CBS

CBS

$43.38

0.08 (0.18%)

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VIA

Viacom

$27.94

-0.06 (-0.21%)

VIAB

Viacom

$25.77

0.02 (0.08%)

BTI

British American Tobacco

$36.90

0.06 (0.16%)

MO

Altria Group

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-0.47 (-1.14%)

PM

Philip Morris

$71.58

-0.4 (-0.56%)

IMBBY

Imperial Brands

$0.00

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CRON

Cronos Group

$10.96

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MLHR

Herman Miller

$44.48

-0.02 (-0.04%)

, SVRA

Savara

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CBPO

China Biologic

$103.19

0.37 (0.36%)

NCR

NCR Corp.

$33.62

0.77 (2.34%)

MSFT

Microsoft

$138.53

1.13 (0.82%)

TNDM

TNDM

X

U.S. Steel

$12.45

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PRVB

Provention Bio

$9.70

0.33 (3.52%)

PAA

Plains All American

$21.87

-0.315 (-1.42%)

COST

Costco

$292.47

0.96 (0.33%)

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TECD

Tech Data

$103.32

-0.59 (-0.57%)

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T

AT&T

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Dish

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AGCO

Agco

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PBR

Petrobras

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-0.31 (-2.08%)

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CE

Celanese

$123.69

-0.28 (-0.23%)

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STI

SunTrust

$68.57

0.48 (0.70%)

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WBS

Webster Financial

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0.43 (0.89%)

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HSBC

HSBC

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HES

Hess Corp.

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CSCO

Cisco

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, DDOG

Datadog

$0.00

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