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TWST: Please give us an idea of your coverage in this area.
Mr. Lucas: The focus is mostly on diversified industrials, companies
that are touching across a number of end markets so that diversity helps
balance out the economic cycle. Companies include Danaher (DHR) and ITT
Industries (ITT) on the large cap side to several quality mid-cap names
like AMETEK (AME), IDEX (IEX), and Roper (ROP). TWST: In general terms, how has this space been doing in the market this
year?
Mr. Lucas: The space has been doing very well. This has been one of
those rare events where both the fundamentals and the stock prices have
been moving in lockstep. There is an old joke in the industry that for
two out of seven years the industrial stocks seem to work well. We are
now in the third year and things are not showing any signs of slowing
down ' at least for now.
Tickers included in this excerpt: AME, ASD, B, DHR, IEX, ITT, ROP, SWK, WAB
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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