| Wednesday | ||||
Regal Rexnord (RRX) and… Regal Rexnord (RRX) and Altra Industrial Motion (AIMC) jointly announced that they have received all required regulatory approvals to complete the previously announced acquisition of all of the issued and outstanding shares of common stock of Altra, whereby a wholly owned subsidiary of Regal Rexnord will be merged with and into Altra, with Altra surviving the merger as a wholly owned subsidiary of Regal Rexnord. The closing of the Transaction is expected to occur on or around March 27, 2023, subject to the satisfaction or waiver of the remaining closing conditions set forth in the merger agreement between the parties. | ||||
Barclays lowered the… Barclays lowered the firm's price target on Johnson Controls to $73 from $74 and keeps an Overweight rating on the shares. The firm updated its framework for evaluating per- and polyfluoroalkyl substances / aqueous film-forming foam risk for multi-industry companies in light of the EPA proposals on PFAS national drinking water standards last week. | ||||
| Over a week ago | ||||
Payable on April 14 to… Payable on April 14 to shareholders of record at the close of business on March 20. | ||||
UBS analyst Chris Snyder… UBS analyst Chris Snyder raised the firm's price target on Trane to $224 from $200 and keeps a Buy rating on the shares. The firm sees margin upside in 2023 and sustained momentum into 2024, the analyst tells investors in a research note. | ||||
Loop Capital analyst… Loop Capital analyst Scott Graham downgraded Altra Industrial Motion (AIMC) to Hold from Buy with an unchanged price target of $62 after the company entered into a definitive agreement to be acquired by Regal Rexnord (RRX) for $62 per share. The analyst believes Altra is worth more than the Regal Rexnord offer. But with no other suitors emerging, the firm downgrades the shares. | ||||
Wells Fargo analyst… Wells Fargo analyst Joesph O'Dea lowered the firm's price target on Johnson Controls to $69 from $74 and keeps an Overweight rating on the shares. The firm notes that while Q1 diminished upside EPS risk this year, it views the stock reaction as overdone. And leading organic growth and solid margin expansion remain attractive through the rest of 2023, Wells adds. | ||||
| Over a month ago | ||||
Johnson Controls (JCI)… Johnson Controls (JCI) and sustainable buildings, PURO Lighting, a subsidiary of Applied UV (AUVI) and Ushio America have announced a research collaboration to study the efficacy and safety of filtered far UV-C disinfection technology."The further validation of the safety and efficacy of filtered far UV-C technology presents tremendous opportunity for PURO to accelerate market adoption by sponsoring this critical research," said Brian Stern, president of PURO. "The research will help demonstrate the benefits and potential cost savings that continuous disinfection of air and surfaces can bring to workplace settings including hospitals, schools, government buildings, commercial offices, and other shared indoor spaces." | ||||
Johnson Controls (JCI),… Johnson Controls (JCI), PURO Lighting, a subsidiary of Applied UV, (AUVI), and Ushio America, have announced a research collaboration to study the efficacy and safety of filtered far UV-C disinfection technology. The research agreement, which includes technologies and products from PURO and Ushio, will focus on the testing of regulatory-approved filtered far UV-C lighting technologies. The research will be initiated by leading U.S.-based universities and certified laboratories over the next 3-6 months. Because of the importance of this research to public health and well-being, the results will be made publicly available and shared broadly to inform customer choices and public policy. | ||||
The dividend is payable… The dividend is payable March 31 to shareholders of record on March 3. | ||||
Argus analyst John Eade… Argus analyst John Eade raised the firm's price target on Trane to $200 from $185 and keeps a Buy rating on the shares. The analyst notes that the company's "business is good" as its Q4 earnings topped expectations and its guidance calls for another year of double-digit growth. The firm also expects Trane to focus on reducing energy intensity in buildings, lowering greenhouse gas emissions and food waste, and improving productivity for customers, which are "good long-term businesses". | ||||
