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HVACR Stock Index Ends at Record; So Does S&P 500

Originally published: 02.17.15 by Margot Crabtree


Oil prices and geopolitical concerns continued their tug-o-war on stocks this month. As our trading session ended February 13, 2015, however, oil prices ended their swoon and markets stabilized, with the S&P 500 closing at a record, and the NASDAQ at a 15-year high.

The Commerce Department said that the economy grew at a 2.6 percent rate in the final quarter of the year, bogged down by weak business investment, and trade and government purchasing, down from a 5 percent rate in the previous quarter. The department also reported that builders began construction on over 1 million new homes and apartments in 2014, an 8.8 percent rise from 2013, and the first time construction has hit one million since the height of the housing boom in 2005.

Single-family housing starts jumped 7.2 percent in December, to the highest pace since March 2008. The University of Michigan’s consumer sentiment index fell to 93.6 in early February, from a 98.1 in January; no change was expected. Even so, the reading was the second highest since January 2007.

“The economic data is coming in OK, and when you delve into the big picture of the earnings reports, they’re not bad,” said Robert Pavlik, chief investment


strategist at Boston Private Wealth. “People want to be in the market when it starts to go back up.”

Exchange
Symbol
Company Name
Price
7/15/14
Price
6/15/14
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 23.37 21.30 2.07 9.72% 23.95 16.78 54470 1272963.9
NYSE ABB ABB Ltd. 21.34 20.12 1.22 6.06% 26.35 19.14 2260000 48228400
NYSE ARG Airgas, Inc. 115.27 111.44 3.83 3.44% 118.75 101.36 75120 8659082.4
NYSE AOS AO Smith Corp. 62.76 54.23 8.53 15.73% 63.18 44.14 90210 5661579.6
NYSE FIX Comfort Systems USA, Inc. 16.96 16.16 0.80 4.95% 18.17 12.63 37640 638374.4
NYSE DOV Dover Corp. 74.41 68.59 5.82 8.49% 91.84 67.13 164590 12247141.9
NASD ELON Echelon Corp. 1.16 1.42 -0.26 -18.31% 3.54 1.15 43900 50924
NYSE DD E. I. DuPont de Nemours & Co. 76.18 73.15 3.03 4.14% 76.66 63.66 905410 68974133.8
NYSE EME EMCOR Group, Inc. 43.70 40.17 3.53 8.79% 48.00 38.68 64750 2829575
NYSE EMR Emerson Electric Co. 58.68 59.38 -0.70 -1.18% 69.94 55.81 685200 40207536
NYSE FCAU Fiat Chrysler 14.53 11.81 2.72 23.03% 14.61 8.54 1170000 17000100
NYSE F Ford Motor Co. 16.30 14.86 1.44 9.69% 18.12 13.26 3850000 62755000
NYSE GM General Motors Co. 37.62 33.43 4.19 12.53% 38.18 28.82 1610000 60568200
NYSE HON Honeywell International, Inc. 104.38 97.11 7.27 7.49% 104.45 82.89 783800 81813044
NASD HDSN Hudson Technologies, Inc. 3.54 3.50 0.04 1.14% 4.80 2.55 32030 113386.2
NYSE IR Ingersoll-Rand Plc 67.69 61.55 6.14 9.98% 68.03 52.47 269500 18242455
NYSE JCI Johnson Controls, Inc. 48.50 44.95 3.55 7.90% 51.60 38.60 657290 31878565
NYSE LII Lennox International Inc. 104.27 94.78 9.49 10.01% 104.50 72.61 44640 4654612.8
NYSE LXU LSB Industries, Inc. 35.39 30.43 4.96 16.30% 42.41 28.91 22610 800167.9
NYSE MTW Manitowoc Co., Inc. 21.86 17.69 4.17 23.57% 33.50 16.24 135320 2958095.2
NYSE NWL Newell Rubbermaid, Inc. 39.57 37.78 1.79 4.74% 39.58 28.27 272700 10790739
NYSE MLI Mueller Industries, Inc. 34.62 31.78 2.84 8.94% 35.13 27.10 56170 1944605.4
NASD NTK Nortek, Inc. 79.00 75.35 3.65 4.84% 92.30 70.10 16160 1276640
OTC NSANY Nissan Motor Co. Ltd. 19.81 16.80 3.01 17.92% 20.27 16.65 2100000 41601000
NASD OFLX OmegaFlex, Inc. 31.00 32.54 -1.54 -4.73% 39.46 15.93 10090 312790
NYSE PH Parker-Hannifin Corp. 124.06 119.93 4.13 3.44% 133.41 99.82 142460 17673587.6
NYSE RBC Regal-Beloit Corp. 76.14 69.45 6.69 9.63% 80.22 62.15 44690 3402696.6
NYSE ROK Rockwell Automation 117.90 104.80 13.10 12.50% 128.57 98.55 135440 15968376
OTC SIEGY Siemens Aktiengesellschaft  109.87 110.06 -0.19 -0.17% 137.06 103.20 881000 96795470
NYSE SPW SPX Corp.  87.37 81.96 5.41 6.60% 111.47 77.30 41070 3588285.9
NYSE TXN Texas Instruments 57.97 52.39 5.58 10.65% 57.98 41.47 1050000 60868500
NYSE UTX United Technologies Corp. 121.25 113.52 7.73 6.81% 121.38 97.30 907160 109993150
NYSE WSO Watsco, Inc. 116.96 105.61 11.35 10.75% 118.49 84.28 32330 3781316.8

 

The HVACR Business Stock Index enjoyed a robust month, and stormed ahead 93.17 points, or 7.52 percent, to notch a record at its closing of 1331.90. Advancing issues easily dominated declining issues at a 29-to-4 count.

Rockwell Automation jumped 13.10 points, or 12.50 percent. Profit rose 8 percent, and ROK reported net income from continuing operations of $214.2 million, or $1.56 per share, compared to $198.1 million, or $1.56 per share in the same quarter last year.

Adjusted for one-time items, Rockwell earned $1.64 per share. Revenue was off 1 percent, to $1.57. ROK’s profit was boosted by a 4.4 percent drop in cost of sales. Rockwell closed at 117.90, and was the top dollar gainer.

Echelon fell 0.26 points, or 18.31 percent. ELON posted a loss of $2.6 million, or $0.06 per share, versus a loss of $4 million, or $0.09 per share last year. Revenue was $9.6 million, from $12.5 million a year ago.

Analysts at Credit Suisse maintained their “neutral” rating on ELON, but lowered their price target to $2.50, from $3. ELON ended at 1.16, and was the top percentage loser.

Manitowoc gained 4.17 points, or 23.57 percent, despite falling short of fourth quarter forecasts. MTW earned net income of $33.6 million, or $0.25 per share, compared to net income of $20.9 million, or $0.15 per share last year. Revenue was $1.04 billion. Adjusted for one-time items, Manitowoc earned $0.27 per share; analysts polled by Zacks expected earnings of $0.33 per share and revenue of $1.07 billion.

MTW said it plans to spin off its food service arm from its crane business, however, a move pushed by activist investor Carl Icahn. The company’s board approved and the spin-off is expected to be completed in the first quarter of 2016. MTW closed at 21.86, and was the top percentage gainer.


Margot Crabtree is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit  www.tradetrendsonline.com

 




About Margot Crabtree

Margot is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit tradetrendsonline.com.

 

 




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