Key Takeaways BKR completed the divestiture of its PSI unit to Crane for $1.15B.Baker Hughes transferred PSI technology, physical locations, tools and about 1,600 employees to Crane.BKR stated the move supports asset management, operational efficiency and disciplined investment priorities.Baker Hughes Company (BKR) has completed the divestiture of its Precision, Sensors and Instrumentation (PSI) unit to Crane Company (CR) . The key sensor and instrumentation brands under the PSI unit are Druck, Panametrics ...

Core Viewpoint - Baker Hughes has successfully closed the sale of its Precision Sensors & Instrumentation product line to Crane Company, generating cash proceeds of $1.15 billion, which will strengthen its balance sheet and liquidity [1][2]. Group 1: Transaction Details - The sale includes the Druck, Panametrics, and Reuter-Stokes brands, and was initially announced in July 2025 [1]. - The transaction is part of Baker Hughes' strategy to enhance earnings and cash flow durability while enabling capital redeployment towards higher-return opportunities [2]. Group 2: Strategic Implications - The formation of a joint venture for the surface pressure control product line, alongside the recent sale, marks a significant milestone in Baker Hughes' value-creation strategy [2]. - The company emphasizes disciplined portfolio management, operational execution, and capital efficiency as key components of its approach to capital allocation [2].

MILWAUKEE--(BUSINESS WIRE)--The Manitowoc Company, Inc. (NYSE: MTW) announced today that the European Commission launched an anti-dumping investigation into imports of mobile cranes from China following a complaint filed by leading European mobile crane manufacturers, represented by the VDMA Materials Handling and Intralogistics Association. VDMA's press release can be accessed here. The current trade complaint focuses on mobile cranes designed for the lifting and moving of materials on land, w. ...

Core Thesis - Crane Company has undergone a significant transformation by focusing on high-return businesses and shedding non-core assets, leading to a balanced portfolio in aerospace & defense and process flow technologies [2][3] Financial Performance - The company has achieved over 20% organic EPS growth, driven by value-based pricing, strong aerospace market conditions, and disciplined capital allocation [3] - Management has maintained a net leverage of just 1x while achieving high returns on invested capital [3] - Recent acquisitions have resulted in 17-18% revenue growth and 48-60% EBITDA expansion within the first year, including a major acquisition for $1.1 billion expected to be at least 10% EPS accretive over several years [3] Market Position and Growth - Crane Company operates in high-margin, mission-critical sectors with leading market positions, experiencing organic growth rates of 12-13% in aerospace & defense and 3-5% in process flow technologies [3] - The company is well-positioned for 15-20% internal rates of return (IRRs) over the next several years, with potential for further upside through strategic separation or acquisition [4] Valuation and Investment Appeal - Trading at a 2026 free cash flow yield of over 4% and a P/E ratio of 24x, compared to peer averages of 3.5% FCF yield and 36x P/E, Crane Company presents compelling risk-adjusted returns [4] - The combination of disciplined execution, financial flexibility, and strategic options makes Crane Company an attractive investment opportunity with both near-term and long-term upside [4]

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Core Insights - The AI-driven bull run of 2023 and 2024 has continued into 2025, with stock prices of AI-centric companies increasing by 300-500% during this period [1] - Old economy stocks from sectors such as industrials, finance, auto, materials, and construction have also seen significant gains, indicating a broad-based market rally [2] Old Economy Stocks - Five old-economy stocks have rallied over 15% year to date and have favorable Zacks Ranks indicating further upside potential in 2026: Comfort Systems USA Inc. (FIX), The Travelers Companies Inc. (TRV), General Motors Co. (GM), JPMorgan Chase & Co. (JPM), and Crane Co. (CR) [3][9] - Each of these stocks carries a Zacks Rank of 1 (Strong Buy) or 2 (Buy) [3] Comfort Systems USA Inc. (FIX) - FIX operates primarily in the HVAC markets and is benefiting from the data center boom driven by AI and cloud computing [6][7] - The company has an expected revenue growth rate of 14.7% and earnings growth rate of 16.4% for the next year, with a 20.1% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [8] The Travelers Companies Inc. (TRV) - TRV has a strong market presence in auto, homeowners' insurance, and commercial property-casualty insurance, with a high retention rate and positive renewal premium changes [10][11] - The expected revenue growth rate is 3.4% and earnings growth rate is 6.7% for the next year, with a 2% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [12] General Motors Co. (GM) - GM holds a 17% market share in the U.S. automotive market, supported by strong demand for its brands and a 10% year-over-year sales increase in China [13][14] - The expected revenue growth rate is -0.8% and earnings growth rate is 11.5% for the next year, with a 6.5% improvement in the Zacks Consensus Estimate for next year's earnings over the last 30 days [15] JPMorgan Chase & Co. (JPM) - JPM is expected to see net interest income growth driven by business expansion initiatives and high interest rates, with a projected CAGR of 3.3% by 2027 [16] - The expected revenue and earnings growth rate for the next year is 3.7%, with a slight improvement in the Zacks Consensus Estimate for next year's earnings [18] Crane Co. (CR) - Crane manufactures engineered industrial products across various regions and has an expected revenue growth rate of 6.1% and earnings growth rate of 9.5% for the next year [19] - The Zacks Consensus Estimate for next year's earnings has improved by 2.5% over the last 30 days [19]

Core Points - The U.S. Department of Energy (DOE) has backed Constellation's Crane Clean Energy Center with a $1 billion loan, marking a significant step in enhancing nuclear energy reliability and supporting the digital economy [1][2] - The project is expected to create approximately 3,400 jobs and generate over $16 billion for Pennsylvania's GDP, while delivering more than $3 billion in state and federal tax revenue [2][3] Company Overview - Constellation Energy Corporation is the largest producer of reliable, emissions-free energy in the U.S., with nearly 90% of its annual output being carbon-free [6] - The company operates the nation's largest nuclear fleet, which has the capacity to power approximately 16 million homes, contributing about 10% of the nation's clean energy [6] Project Details - The Crane Clean Energy Center will add 835 megawatts (MW) of new baseload power to the grid, supporting grid stability and meeting increasing energy demands [1][2] - The center is currently over 80% staffed with more than 500 employees, and inspections and regulatory reviews are on schedule [3] Economic Impact - The restart of the Crane reactor is projected to help keep electricity prices stable and support the growing demand from electrification and data centers [2] - Constellation has committed over $1 million in charitable giving over five years to support workforce development and local organizations [3] Strategic Investment - The launch of the Crane Clean Energy Center is part of a broader multi-billion dollar investment by Constellation to extend the lives of existing nuclear plants and increase their output [4]

Core Viewpoint - The Manitowoc Company, Inc. is facing potential challenges due to a complaint filed by the VDMA Materials Handling and Intralogistics Association regarding unfair competition from Chinese mobile cranes in the European Union [1] Group 1: Complaint Details - The VDMA has requested an urgent investigation by the European Commission into the influx of mobile cranes from China [1] - The complaint highlights that the marketing conditions of these Chinese mobile cranes result in unfair competition for European producers [1] Group 2: Industry Implications - The situation may lead to increased scrutiny and regulatory actions affecting the mobile crane market within the European Union [1] - The outcome of the investigation could impact pricing, market share, and competitive dynamics for companies operating in the mobile crane sector in Europe [1]

Core Insights - Red Crane Wealth Management LLC reduced its holdings in Meta Platforms by 30.2% in Q2, owning 1,727 shares valued at $1,275,000, making it the 28th largest holding in their portfolio [2] - Institutional investors own 79.91% of Meta Platforms, with significant increases in holdings from Kingstone Capital Partners Texas LLC and Amundi [3] - Insider selling occurred with Director Robert M. Kimmitt and COO Javier Olivan reducing their positions by 5.53% and 6.10% respectively, with a total of 198,335 shares sold by insiders in the last 90 days [4] Financial Performance - Meta Platforms reported Q3 earnings of $7.25 per share, exceeding estimates of $6.74, with revenue of $51.24 billion, a 26.2% increase year-over-year [6] - The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 28.64, and a PEG ratio of 1.38 [5] Dividend Information - A quarterly dividend of $0.525 per share was paid on September 29, representing an annualized dividend of $2.10 and a yield of 0.3% [7] Analyst Ratings - Recent analyst ratings show a mix of adjustments, with KeyCorp lowering its price target from $905.00 to $875.00, while Citizens Jmp increased its target from $750.00 to $900.00 [9] - The consensus target price for Meta Platforms is $827.60, with an average rating of "Moderate Buy" [9]

Financial Data and Key Metrics Changes - Adjusted EPS was reported at $1.64, reflecting a 5.6% core sales growth, primarily driven by Aerospace & Electronics and Process Flow Technologies [5][19] - Adjusted operating profit increased by 19%, supported by strong net pricing and productivity [19] - Core FX neutral backlog rose by 16% year-over-year, indicating continued strength in Aerospace & Electronics [19][21] Business Line Data and Key Metrics Changes - Aerospace & Electronics sales reached $270 million, a 13% increase, with total aftermarket sales up 20% [21][22] - Process Flow Technologies delivered sales of $319 million, up 3%, with flat core performance and a slight benefit from acquisitions and foreign exchange [22][23] - Adjusted segment margin for Aerospace & Electronics expanded to 25.1%, while Process Flow Technologies saw a margin of 22.4%, reflecting strong productivity and pricing [22][23] Market Data and Key Metrics Changes - The defense and aerospace markets remain robust, with expectations for low double-digit core sales growth for the year [11][21] - The chemical market showed softness, particularly in Europe and China, but North America and the Middle East exhibited positive activity [31][32] Company Strategy and Development Direction - The company is on track to close the acquisition of Precision Sensors & Instrumentation, which is expected to enhance financial profiles and margins [6][9] - The strategic outlook remains focused on operational execution and commercial excellence, with an organic growth assumption of 4% to 6% for 2026 [8][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate current macroeconomic challenges and maintain operational consistency [19][25] - There is optimism regarding the stabilization and potential recovery of the chemical market in the upcoming year [42] Other Important Information - The company raised its full-year adjusted earnings outlook to a range of $5.75 to $5.95, reflecting a 20% growth at the midpoint compared to the previous year [7][24] - The company expects to offset tariff impacts through pricing and productivity measures, with a gross cost increase of approximately $30 million for the year [21] Q&A Session Summary Question: Can you discuss the expectations for the non-chemical portion of Process Flow Technologies? - Management indicated strong growth in wastewater and cryogenics, with double-digit growth expected in these areas [30][31] Question: What are the key drivers of margin upside in Process Flow Technologies? - The margin upside is attributed to innovation, new product launches, and effective pricing strategies [34][36] Question: How is the company preparing for potential impacts from a U.S. government shutdown? - Currently, there are no expected impacts from the government shutdown, and operations remain stable [57] Question: What is the outlook for organic growth in Aerospace & Electronics next year? - Management expects to be at the high end of the long-term growth range of 7% to 9% for Aerospace & Electronics [104] Question: How does the company view automation in its operations? - The focus is on specific tasks for automation rather than complete factory automation, addressing skilled labor gaps [96][98]