Deep Dives - Machinery

Date Ticker Title Vertical Rating (at time of publication)
08.15.2019 ALSN
  • Machinery: Truck Takeaways Post ACT Conference
  • Machinery N/A
    08.12.2019 RXN
  • RXN: Management Meeting Takeaways
  • Machinery Buy
    08.12.2019 CAT
  • Machinery: Mining Equipment - Q2 Shipments Better Than First Blush
  • Machinery N/A
    08.02.2019 AGCO
  • Machinery: Q2 Review - Assessing the Damage
  • Machinery N/A
    07.10.2019 AGCO
  • Machinery: 2Q Preview - More About Sentiment Than Surprises
  • Machinery N/A
    06.13.2019 AGCO
  • Machinery: Charting The Late Cycle Machinery Set-up
  • Machinery N/A
    06.05.2019 CAT
  • EE/MI and Machinery: Chicago Field Trip: ITW, DOV, IEX, CAT, CNHI, Komatsu
  • Machinery N/A
    05.12.2019 CAT
  • Machinery: Mining Equipment - Slower Growth, Recovery Tone Leans Constructive
  • Machinery N/A
    05.03.2019 CAT
  • CAT: A Great Investor Day Message
  • Machinery Buy
    04.29.2019 CAT
  • CAT: Investor Day - Should Be Good, Could Be Great
  • Machinery Buy
    04.12.2019 AGCO
  • Machinery: 1Q19 Preview - Boring Would Be Beautiful
  • Machinery N/A
    04.08.2019 DE
  • DE: Sizing Precision Ag
  • Machinery Buy
    04.03.2019 DE
  • DE: Notes from the Road
  • Machinery Buy
    03.29.2019 AHT-GB
  • Machinery: West Texas Field Trip - CMI, URI & Sunbelt
  • Machinery N/A
    03.12.2019 AGCO
  • Machinery: U.S. Ag Equipment - More About 2020 Than 2019
  • Machinery N/A
    02.20.2019 AHT-GB
  • Machinery: ARA Rental Show - A Strong 2019 Ahead
  • Machinery N/A
    02.14.2019 LECO
  • LECO: Downgrade to Sell on 2019 Set-up
  • Machinery Sell
    02.12.2019 CAT
  • Machinery: Mining Equipment - Slower Growth And Some 2019 Vulnerabilities On Divergent Trends
  • Machinery N/A
    01.18.2019 AGCO
  • Machinery: 4Q Preview - Sizing Up Sentiment
  • Machinery N/A
    01.15.2019 AIR-FR
  • Vertical Research Partners Top Picks - VRP Top Picks for 2019
  • Machinery N/A
    01.08.2019 DE
  • DE: Headwinds and Tailwinds Post Management Meeting
  • Machinery Buy
    01.07.2019 AGCO
  • Machinery: 2019 Outlook - Exploring Trough While Navigating The Chop
  • Machinery N/A
    12.12.2018 URI
  • URI: Better Than Ever, And Very Inexpensive
  • Machinery Buy
    12.03.2018 AGCO
  • Machinery: G20 Boost To U.S. Farmers
  • Machinery N/A
    12.03.2018 URI
  • URI: Mapping A Downturn
  • Machinery Buy
    11.20.2018 AGCO
  • Machinery: Farm Health Assessment Ahead of Deere Earnings
  • Machinery N/A
    01.05.2018 RXN
  • 2018 Outlook: Shift to Stock Selection; Upgrade DE to Buy
  • Machinery N/A
    08.23.2017 CMI
  • PCAR: Transmission Launch and Implications from more Vertical Integration
  • Machinery N/A
    08.21.2017 DE
  • DE: Tripped Up By Higher Costs
  • Machinery Hold
    08.17.2017 URI
  • URI: Striking the Yellow Iron
  • Machinery Buy
    08.04.2017 CMI
  • Machinery: Early Momentum in Mining Equipment Recovery
  • Machinery N/A
    08.02.2017 TEX
  • TEX: Better Bridge on Cranes, AWP Margins Light
  • Machinery Hold
    08.02.2017 RXN
  • RXN F1Q18: PMC Leads Solid Start to F'18
  • Machinery Buy
    08.01.2017 CMI
  • CMI: 2Q Shortfall Looks Isolated
  • Machinery Hold
    07.31.2017 ALSN
  • ALSN: Huge Beat, Raise, Guide Looks Like a Gimme
  • Machinery Hold
    07.27.2017 AGCO
  • AGCO: A Beat with Legs - Adjusting Estimates Higher
  • Machinery Hold
    07.26.2017 TKR
  • TKR: Fine Quarter, Harsh Reaction
  • Machinery Hold
    07.25.2017 PCAR
  • PCAR: No Sign of Slow Down in Build
  • Machinery Hold
    07.25.2017 CAT
  • CAT: Early Stages of the Recovery Playbook
  • Machinery Buy
    06.27.2017 URI
  • URI: Mapping An Inflection in Rate
  • Machinery Buy
    06.20.2017 CAT
  • CAT: May Retail Sales Broadly Better
  • Machinery Buy
    06.19.2017 CMI
  • Class 8 Details: Complexion of Order Downshift As Expected
  • Machinery N/A
    06.13.2017 AHT-GB
  • Ashtead F4Q17 - Quick Thoughts on Rental Conditions
  • Machinery Buy
    06.09.2017 CMI
  • COTD: China Machinery Demand Still Humming in 2Q
  • Machinery N/A
    06.07.2017 NAV
  • NAV: 2H Achievable, But Not a Done Deal
  • Machinery Hold
    06.02.2017 WBC
  • Class 8 Prelim Orders: Deeper Air Pocket Than Expected
  • Machinery N/A
    05.22.2017 TKR
  • Timken 2017 Investor Day Takeaways
  • Machinery Hold
    05.22.2017 DE
  • DE: High Horsepower Stabilization Boosts F2Q and Beyond
  • Machinery Hold
    05.18.2017 RXN
  • RXN: Good Finish, Encouraging Demand, Outlook Risk Adjusted
  • Machinery Buy
    05.15.2017 DE
  • DE: F2Q'17 Preview
  • Machinery Hold
    05.02.2017 URI
  • Used Rental Equipment: Continued Improvement in March Prices
  • Machinery N/A
    05.01.2017 CMI
  • CMI Class 8 Share Up in March
  • Machinery N/A
    05.01.2017 WBC
  • Machinery 1Q Review: Actuals Wallop Expectations
  • Machinery N/A
    04.25.2017 CAT
  • CAT: Margins Deliver, Awaiting Volume; Maintain Buy
  • Machinery Buy
    04.25.2017 ST
  • ST 1Q'17: Slight Beat, Guide Maintained
  • Machinery Hold
    04.24.2017 CAT
  • CAT: March Retail Sales Post Growth After Long Slog Through Declines
  • Machinery Buy
    04.21.2017 WBC
  • WBC: Relative View Remains Cautious
  • Machinery Sell
    04.19.2017 CAT
  • Positive Read from GPC to TKR and RXN
  • Machinery N/A
    04.18.2017 LECO
  • LECO: Calming Some Short Cycle Nerves
  • Machinery Hold
    04.11.2017 AGCO
  • Ag Data: March Retail Sales & Q1 Used Auction Prices
  • Machinery N/A
    04.11.2017 CMI
  • China Excavators - Strong Growth Persists in Important March Sales
  • Machinery N/A
    04.03.2017 PCAR
  • Jump in PCAR Engine Share Leads CMI Down in February
  • Machinery N/A
    03.31.2017 URI
  • Rental Equipment: Used Prices Gain M/M, As Expected
  • Machinery N/A
    03.20.2017 CAT
  • CAT Retail Sales: Headline Improvement Mostly Comp Related
  • Machinery Buy
    03.16.2017 VOLV.B
  • Class 8: Build Discipline Helps Backlog As Orders Improve
  • Machinery N/A
    03.09.2017 CNHI
  • CONEXPO 2017: Tone Clearly Better; Timeline Unclear
  • Machinery N/A
    02.28.2017 DE
  • Machinery: Rental Show - Encouraging Signs; Positive Tone
  • Machinery N/A
    02.24.2017 ALSN
  • Machinery 4Q Review: Signs of Improvement
  • Machinery N/A
    02.17.2017 DE
  • DE: Raising the Bar
  • Machinery Hold
    02.15.2017 URI
  • Machinery: Cleveland Part II - Reads from TKR, URI & AIT
  • Machinery N/A
    02.12.2017 JOY
  • Machinery: Mining Trucks Lead Sequential Pick-Up in Equipment Shipments
  • Machinery N/A
    02.07.2017 AGCO
  • AGCO: Maintain Sell on End Markets, Policy and Relative Valuation
  • Machinery Sell
    01.27.2017 URI
  • URI: Encouraging Quarter & Outlook
  • Machinery Buy
    01.26.2017 CAT
  • CAT: 4Q Beat, Looking For a Repeat in '17
  • Machinery Buy
    01.25.2017 CAT
  • CAT: No Shift In Retail Sales Trends
  • Machinery N/A
    01.18.2017 NAV
  • Class 8 Trucks: Big Inventory Progress in 4Q
  • Machinery N/A
    01.10.2017 CNHI
  • December Ag Equipment: U.S. Declines As Expected, Tough Month In Germany, Brazil Up On Comps and Pre-buy
  • Machinery N/A
    01.10.2017 TEX
  • Machinery: Komtrax Utilization Data Up Broadly; U.S. Used CE Prices Also Better
  • Machinery N/A
    01.06.2017 CMI
  • Machinery 2017 Outlook: Calibrating Expectations - Policy, Cycle and Valuation Views
  • Machinery N/A
    01.02.2017 PCAR
  • Class 8 Engines: Navistar Drives M/M Dip in CMI Share
  • Machinery N/A
    12.14.2016 TEX
  • TEX: 2020 Targets Support Valuation
  • Machinery Hold
    11.18.2016 CAT
  • CAT October Retail Sales: Days & Comps Noise, Overall Machines Look Flattish and E&T Softer
  • Machinery Buy
    11.07.2016 RXN
  • RXN: Sticking With Buy Rating On Valuation
  • Machinery Buy
    10.31.2016 CNHI
  • CNHI: Largely Consistent With Expectations
  • Machinery Hold
    10.25.2016 CAT
  • CAT 3Q'16: Modeling a Bottom, Maintain Buy
  • Machinery Buy
    10.24.2016 ALSN
  • ALSN 3Q'16: Margin Beat and Guidance Raise
  • Machinery Hold
    10.19.2016 URI
  • URI 3Q'16: Solid Results & Improved Outlook
  • Machinery Hold
    09.29.2016 CAT
  • CAT 2017 Pricing Better than Expected on Both Ends
  • Machinery Buy
    09.28.2016 CMI
  • MINExpo 2016 - Some Hope Off An Extremely Low Base
  • Machinery N/A
    09.19.2016 PCAR
  • NAFTA Class 8 Trucks: No Weak Signals in PCAR Build
  • Machinery N/A
    06.09.2016 CNHI
  • Ag Equipment: Still Growing Lease Books Add to Inventory Concerns
  • Machinery N/A
    04.15.2016 CAT
  • CAT: Upgrade to Buy - Digging Out of the Trough
  • Machinery Buy
    01.15.2016 WBC
  • 2016 Outlook - Machinery Remains a Falling Knife, But Some Cuts Are Too Deep
  • Machinery N/A
    11.05.2015 CMI
  • Machinery 3Q Review: Stocks Up, Outlooks Down
  • Machinery N/A
    10.25.2015 WBC
  • WBC: Downgrade to Sell, Downside Risk on Price Premium and High Expectations
  • Machinery Sell
    09.13.2015 DOV
  • VRP Industrial Conference: Trends Challenging, But No Summer Trap Door
  • Machinery N/A
    08.31.2015 ALSN
  • Trucks: Ratings Changes Ahead of NAFTA Downshift
  • Machinery N/A
    05.01.2015 AHT-GB
  • AHT.L Initiating Buy: Outgrowth in a Ripe Industry
  • Machinery Buy
    04.15.2015 VOLV.B
  • Initiating Volvo at Buy, Margin Runway a Likely Path to Value
  • Machinery Buy
    07.14.2014 URI
  • URI: Initiating Buy - Earnings Outgrowth on Systems, Cycle and Cash Deployment
  • Machinery Buy

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