Year-end control indexes outperform most others

Year-end stock indexes for 2000 tell quite a story—a good one for the controls industry. The overall indexes peaked, or were near their peak, at the beginning of the year, and then generally fell through 3Q00—except for the Control Engineering (CE) Index, which reached a new pinnacle at the end of 2000.

02/01/2001


Year-end stock indexes for 2000 tell quite a story-a good one for the controls industry. The overall indexes peaked, or were near their peak, at the beginning of the year, and then generally fell through 3Q00-except for the Control Engineering (CE) Index, which reached a new pinnacle at the end of 2000.

During 4Q00, the other indexes declined, but the CE Index increased more than 12%. NASDAQ Composite in particular dropped about 33% in 4Q00 and 39% for the year, which analysts attribute to poor performances by technology stocks. The implosion of many 'dot com' firms during 2000 is one major reason for the weakening of the technology market.


Control and automation devices are increasingly computer-based, so it might seem logical for them to be identified with the overall technology market. Computers provided by many technology market index companies are used primarily for personal computing, accounting, and games. Control-based computers aren't toys and often provide data to accounting departments, so it's no surprise that the controls sector would have a longer, healthier performance than other computer-related industries.

Nonetheless, a note of caution remains because of a dip in the CE Earnings Per Share Index. Decreased earnings in 4Q00 affected almost all industries, and led to some predictions of less growth in 2001. Still, the CE Market Value Index shows that control and automation is a robust industry. From a dip in 2Q00, this indicator rose steadily through 4Q00, which is a good gauge of investors' confidence in the control industry.


Control Engineering Stock Index

Stock prices ($) at close 9/301/00

($) close 12/29/00

% chg. in 4Q00

52-wk high

Annual div yield

Price/earn ratio

12-mo. EPS ($)

Ametek Inc.

25.94

22.4

26.94

0.77

13

2.04

21.19

Badger Meter Inc.

23.00

-16.8

37.38

3.91

10

2.32

27.63

Danaher Corp.

68.38

37.4

69.81

0.15

32

2.14

49.75

Eaton Corp.

64.75

5.1

86.56

2.78

8

8.03

61.63

Emerson Electric Co.

78.81

17.6

79.75

1.9

24

3.22

67.00

Flowserve

21.38

30.0

21.94

0

NC

0.04

16.44

Honeywell Inc.

47.31

32.8

64.00

1.69

27

1.74

35.63

K-Tron International

18.38

8.5

18.75

0

8

2.44

16.94

National Instruments

48.56

10

59.50

0

48

1.02

44.13

Rockwell International

47.63

57.1

54.50

2.1

14

3.35

30.31

Transmation Inc.

1.00

-63.6

4.00

0

NC

-0.56

2.75

Tyco International Ltd.

55.50

7.0

59.19

0.18

21

2.64

51.88

EPS = earnings per share
Yield = % based on closing price
Div. = dividend
Source: Control Engineering with data from Cnet Investor (Boulder, Colo., www.investor.cnet.com , 303/938-1877)





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