Industrial control indexes hold own in third quarter

Earnings for industrial control companies through 3Q00 don't seem to parallel many analysts' opinions that overall industrial earnings for 2000 won't be too good. The Control Engineering (CE) Stock Index for control firms appeared healthy enough in 3Q00, with enough momentum to indicate that year-end figures will be pretty good.

12/01/2000


Earnings for industrial control companies through 3Q00 don't seem to parallel many analysts' opinions that overall industrial earnings for 2000 won't be too good. The Control Engineering (CE) Stock Index for control firms appeared healthy enough in 3Q00, with enough momentum to indicate that year-end figures will be pretty good. All companies in the index, except the smallest one, had increased earnings in 3Q00.

The CE Market Value Index also reflects a strong rebound in 3Q00, following a significant drop in 2Q00 and a modest increase in 1Q00.


The best news is that the CE Stock Index performed much better than other market indexes in 3Q00. The CE Index increased 7.4% compared to a 7.4% decline in the NASDAQ, a financial indicator that usually mirrors small companies.

Yet again, it's becoming more difficult to track companies that can be identified with the industrial control market. For example, Honeywell traditionally attributed 25% of its volume and operating profit to industrial automation, mainly in its Industrial Control (IC) division. When it was gobbled up by Allied Signal more than a year ago, the control and automation part of the new Honeywell declined significantly. Now, following General Electric's recent move to buy the new Honeywell, the new firm's control and automation-related portion might shrink again. However, Honeywell IC also could be buoyed by new ties to GE's own Industrial Systems division.


Control Engineering Stock Index

Stock prices at close 6/31/00

($) close 9/30/00

% chg. in 3Q00

52-wk. high

Annual div. yield

Price/earn. ratio

12-mo. EPS ($)

Ametek Inc. 17.05

21.19

21.1

22.88

0.94

11

1.98

Badger Meter Inc. 25.25

27.63

9.4

39.50

3.26

11

2.44

Danaher Corp. 49.44

49.75

0.6

60.25

0.20

25

1.98

Eaton Corp. 67.00

61.63

-8.0

98.38

2.92

7

9.21

Emerson Electric Co. 60.38

67.00

11.0

70.38

2.09

21

3.22

Flowserve 15.06

16.44

9.1

18.88

0

35

0.47

Honeywell Inc. 33.69

35.63

5.8

65.81

2.25

17

2.07

K-Tron International 15.25

16.94

11.1

17.94

0

7

2.38

National Instruments 43.63

44.13

1.2

59.50

0

45

0.97

Rockwell International 31.50

30.31

-3.8

59.38

3.30

9

3.35

Transmation Inc. 2.25

2.75

22.2

4.00

0

NA

-0.46

Tyco International Ltd. 47.38

51.88

9.5

59.19

0.19

26

1.97

EPS = earnings per share

Div.=dividend

Yield=% based on closing price

Source: Control Engineering with data from Cnet Investor





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Sensor-to-cloud interoperability; PID and digital control efficiency; Alarm management system design; Automotive industry advances
Make Big Data and Industrial Internet of Things work for you, 2017 Engineers' Choice Finalists, Avoid control design pitfalls, Managing IIoT processes
Engineering Leaders Under 40; System integration improving packaging operation; Process sensing; PID velocity; Cybersecurity and functional safety
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Flexible offshore fire protection; Big Data's impact on operations; Bridging the skills gap; Identifying security risks
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
click me