Conglomerates Sector Review: General Electric’s Huge Contract, Morgan Stanley Rates Dover and Emerson
General Electric Company (NYSE:GE): General Electric-Aviation awarded a $937.88M firm-fixed-price contract. The award provides services and supplies for Corpus Christi Army Depot overhaul and repair of the entire T-700 family of engines. The shares closed at $18.65, up $0.1, or 0.54%, on the day.
American Industrial Partners announced that it has completed the purchase of Heil Trailer International from Dover Corporation (NYSE:DOV). Heil Trailer is a global provider of engineered tank and specialty trailers for a diverse range of end markets including oil and gas and infrastructure. Dover initiated with an Underweight at Morgan Stanley with a $64 price target. Dover’s shares closed at $57.66, down $1.02, or 1.74%, on the day. Its market capitalization is $10.69 billion.
Emerson Electric Co. (NYSE:EMR) was initiated with an Overweight at Morgan Stanley with a price target of $56. Shares closed at $47.15, down $0.57, or 1.19%, on the day. Its market capitalization is $34.67 billion.