Defense and security contracts help mitigate increasing competition in aircraft maintenance.
We raise our fair value estimate for Singapore Technologies Engineering, or STE, to SGD 3.60 from SGD 3.40 as we reflect on strategies from the firm that should begin to materially drive earnings growth over the next five to 10 years. Some of this upside is already reflected in the company’s current share price, so a larger buffer is preferred versus risk, but the company’s 4% dividend yield remains attractive. Our narrow moat and stable moat trend ratings are intact. STE’s second-quarter perfor...Singapore Technologies Engineering is an investment holding company. Co. and its subsidiaries have four business sectors: Aerospace, which provides a range of aircraft maintenance, engineering and training services for both military and commercial aircraft operators; Electronics, which engages in the design, development and integration of electronics and communications systems; Land Systems, which delivers integrated land systems, specialty vehicles and their related through-life support; and Marine, which provides customised shipbuilding, repair and conversion services to both naval and commercial vessels, at Co.'s yards in Singapore and the U.S.
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.
We have operations in 27 countries.
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