The demand for industrial Machinery and Equipment is expected to soar as economic growth creates various industrial activities. In today’s age, the single machines were replaced with all in one equipment that helps in the entire production process rather than one. These types of equipment are also helpful in reducing the cost of the overall production process.
Companies in the Specialty Industrial Machinery Industry are the core of industrial machinery supplies of the country. Some companies in this industry are providing compression equipment, and related aftermarket parts, consumables, and services. Others are offering electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, etc.
Let take a look at 7 leading companies in Specialty Industrial Machinery Industry:
Otis Worldwide Corporation (NYSE: OTIS)
Otis Worldwide Corporation (NYSE: OTIS) shares were trading up 0.33% at $63.45 at the time of writing on Friday. Otis Worldwide Corporation (NYSE: OTIS) share price went from a low point around $38.00 to briefly over $66.00 in the past 52 weeks, though shares have since pulled back to $63.45. OTIS market cap has remained high, hitting $27.39B at the time of writing, giving it a price-to-sales ratio of more than 2.
Otis Worldwide Corporation (OTIS) has announced that it will discuss its earning results in its 2020 Third Quarter Earnings call on October 26, 2020. If we look at the recent analyst rating OTIS, Wolfe Research upgraded coverage on OTIS shares with an Outperform rating and a $66.88 price target, which implies room for 3.43% upside momentum this year.
3M Company (NYSE: MMM)
3M Company (NYSE: MMM) last closed at $169.80, in a 52-week range of $114.04 to $182.54. Analysts have a consensus price target of $170.19. 3M Company (MMM) has previously introduced a new plugin for Adobe Photoshop. 3M Visual Attention Software builds upon decades of research to make use of powerful AI for creatives.
Emerson Electric Co. (NYSE: EMR)
Emerson Electric Co. (NYSE: EMR) stock soar by 0.37% to $70.02. The most recent rating by Stephens, on October 16, 2020, is at an Overweight. Emerson Electric Co. (EMR) has been announced earlier that it has received a $14 million contract to provide automation technologies for the new Azeri Central East offshore platform in the Caspian Sea.
Honeywell International Inc. (NYSE: HON)
Honeywell International Inc. (NYSE: HON) shares headed falling, lower as much as -0.74%. The most recent rating by RBC Capital Mkts, on August 11, 2020, is at a Sector perform. Honeywell International Inc. (HON) has revealed earlier that its Compact Fly-By-Wire system has been chosen for the Nuuva V300 cargo unmanned aerial vehicle (UAV). Fly-by-wire computers act as the brains of an aircraft’s flight controls by operating them electronically.
ABB Ltd (NYSE: ABB)
ABB Ltd (NYSE: ABB) fall -2.32% after losing more than -$0.62 on Friday. ABB Ltd (ABB) has disclosed today that its wholly-owned subsidiary, ABB Finance Inc., has started a cash tender offer for any and all of its outstanding 3.800% Notes due 2028 and 4.375% Notes due 2042.
Ingersoll Rand Inc. (NYSE: IR)
Ingersoll Rand Inc. (NYSE: IR) last closed at $38.27, in a 52-week range of $17.01 to $38.96. Analysts have a consensus price target of $37.64. Ingersoll Rand Inc. (IR) has announced that it is scheduled to share its third-quarter 2020 earnings release on November 2, 2020.
General Electric Company (NYSE: GE)
General Electric Company (NYSE: GE) stock drop by -1.17% to $7.63. The most recent rating by Goldman, on October 09, 2020, is at a Buy. General Electric Company (GE) has disclosed previously that it has been selected by St. Luke’s University Health Network to install GE Healthcare ultrasound technology and IT workflow solutions system-wide.