Rockwell Announces Fiscal 2016 Results and Plans to Acquire B/E Aerospace in a Defensive Move
Narrow-moat Rockwell Collins announced its fourth-quarter earnings results and plans to acquire cabin and seat supplier B/E Aerospace for $8.3 billion--$6.4 billion in cash and stock plus $1.9 billion in assumed debt. While there are undoubtedly some growth opportunities, we think Rockwell made the acquisition primarily for defensive reasons and, based on the deal multiple compared with peer valuations and the maturity of the aerospace cycle, particularly in widebodies, we don’t think Rockwell g...Rockwell Collins designs, produces and supports communications and aviation systems for commercial and military customers and provides information management services through voice and data communication networks and solutions worldwide. The company also provides a range of services and support to its customers through a network of service centers, including equipment repair and overhaul, service parts, field service engineering, training, technical information services and aftermarket used equipment sales. As of Sept 30 2017, the company served customer through its Interior Systems, Commercial Systems, Government Systems and Information Management Services operating segments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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