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http://www.imeche.org/news/engineering/gkn-to-acquire-fokker-technologies-28071501
97 personnel released. Not confirmed.
The chief executive of automotive at Redditch engineering group GKN has announced he will step down after 13 years at the company. Andrew Reynolds Smith joined GKN in 2002 and has held a number of senior positions across the group's automotive division. He was appointed to the board in June 2007 and became chief executive of the business in October 2011. He will leave the company on 25 September 2015 to take up the role of chief executive at listed engineering group Smiths. Nigel Stein, chief executive of GKN, said: "Andy has played an important part in the success of GKN's automotive businesses and made a strong contribution to the group. We wish him well in his new role at Smiths Group." The search for Smith's successor is underway with an appointment expected to be made ahead of his departure.
Looks interesting. Companies like re easily over looked a real stalworth of a company imo.
GKN present Broker Views..... GKN broker views Date Broker Recommendation Price Old target price New target price Notes 27 Feb Berenberg Buy 361.30 410.00 400.00 Reiterates 25 Feb Societe Generale Hold 361.30 400.00 400.00 Downgrades 25 Feb Credit Suisse Outperform 361.30 410.00 410.00 Reiterates 25 Feb Exane BNP Paribas Outperform 361.30 380.00 380.00 Reiterates 25 Feb JP Morgan Cazenove Overweight 361.30 394.00 426.00 Reiterates
Happy to buy GKN at these levels now the froth has come off.
27 Feb 2015 GKN PLC GKN Berenberg Buy 368.20 368.20 410.00 400.00 Reiterates SP TARGET 400p.
GKN...... Very Impressive list of Broker updates over the last couple of days since the companys results........... Date Broker Rec. Price Old target price New target price Notes 25 Feb 15 Societe Generale Hold 366.15 400.00 400.00 25 Feb 15 Credit Suisse Outperform 366.15 410.00 410.00 25 Feb 15 Exane BNP Paribas Outperform 366.15 380.00 380.00 25 Feb 15 JP Morgan Cazenove Overweight 366.15 394.00 426.00 25 Feb 15 Liberum Capital Buy 366.15 440.00 425.00 24 Feb 15 Canaccord Genuity Buy 366.15 500.00 500.00 24 Feb 15 Numis Hold 366.15 400.00 400.00 24 Feb 15 Cantor Fitzgerald Buy 366.15 405.00 405.00 24 Feb 15 Liberum Capital Buy 366.15 440.00 440.00
<b>Liberum Capital Reiterates “Buy” Rating for GKN plc (GKN)</b> February 25th, 2015 GKN plc (LON:GKN)‘s stock had its “buy” rating reiterated by research analysts at Liberum Capital in a report released on Tuesday. They currently have a GBX 440 ($6.77) target price on the stock. Liberum Capital’s price target indicates a potential upside of 13.99% from the company’s currentprice. Shares of GKN plc (LON:GKN) opened at 376.90 on Tuesday. GKN plc has a 1-year low of GBX 281.10 and a 1-year high of GBX 468.00. The stock has a 50-day moving average of GBX 366.6 and a 200-day moving average of GBX 340.9. The company’s market cap is £6.158 billion. Several other analysts have also recently commented on the stock. Analysts at Cantor Fitzgerald Europe reiterated a “buy” rating and set a GBX 405 ($6.23) price target on shares of GKN plc in a research note on Tuesday. Analysts at Credit Suisse reiterated an “outperform” rating and set a GBX 410 ($6.31) price target on shares of GKN plc in a research note on Thursday, February 19th. Analysts at RBC Capital reiterated an “underperform” rating and set a GBX 340 ($5.23) price target on shares of GKN plc in a research note on Thursday, February 19th. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 394 ($6.06) price target on shares of GKN plc in a research note on Thursday, February 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. GKN plc presently has a consensus rating of “Buy” and a consensus price target of GBX 385.78 ($5.93). GKN PLC is a holding company. The Company operates in global automotive, aerospace and land systems markets (LON:GKN). The Company’s division includes GKN Driveline, GKN Powder Metallurgy, GKN Aerospace and GKN Land Systems. GKN Aerospace is a supplier of airframe and engine structures, components, assemblies and transparencies to a range of aircraft and engine prime contractors and other first tier suppliers.
Happy torque: GKN aspires to be duller. That may seem odd, given that this £6 billion FTSE 100 engineer attracts little notice in the first place. The kit GKN makes to transmit rotary power has the functional beauty of a nautilus shell or a finch’s beak and is used across the automotive business. But products such as the constant velocity joint are hidden in the innards of your jalopy. The maturity of the business is reflected in profits linked to world economies and move only marginally most years. While pretax profits for 2014 crashed misleadingly due to non-cash revaluation of hedges, underlying earnings rose just 4%. Cyclicality makes GKN a risk-on/risk-off trade for short-term investors. Shares in the company have risen 35% since October, as markets have rallied. The company, headquartered in the throbbing metropolis that is Redditch, would prefer a less volatile pattern driven more heavily by self-generated growth. Hence a push into aerospace, which now generates almost as much profit as automotive.
In my view this share got a bit ahead of itself in the run up to the results. I really like GKN but I would prefer to be buying around 360 if possible. My concerns are their interests in Russia and the depreciating Euro but I think most of that is in the price now. I would be looking to buy when the market and/or GKN has a bad day.
Announcing next week...looks ok
Nice 3 month share chart; hopefully the forthcoming results will justify it.
Struggles in GKN's Land Systems (LS) division are providing a drag on investor confidence about the engineering firm, though broker Numis Securities still reiterated its 'add' stance on the stock. The broker said that LS is the most cyclical and therefore lowest-value part of GKN and "should not undermine the value being created elsewhere". The underlying performances of the auto and aerospace divisions are still improving despite softness in the defence market.
still crossed Rising slowly :) Patience all the by word of LSE board
£4.3m buy reported after 16:30 suggests the sp will rise tomorrow. Fingers crossed.
Im not too savy with that rns, what is the significance?
Check out the RNS just out!!!
This share should be going up but all it does is go down. I do not understand why but with a low yield and falling sp it does not look like a good investment although I suppose it might be a recovery play GLA
Feeling that with the recent changes in exchange rates and an supportive portfolio of businesses, GKN is as well placed as any major UK manufacturer.
Update on Tuesday, fingers crossed this is good news, I need a decent uplift in SP as im sitting on a paper loss at present. Many others invested here?
A nice update. Looks like I didnt catch the bottom with my top up but on a long term play happy with more shares at 312.
Aerospace and automotive group GKN should be able to weather any impact on its car parts business of economic weakness in Europe, according to Westhouse Securities. Westhouse analysts, who met investor relations executives from the company on Tuesday, said they left feeling encouraged about its markets, revenue and margin trajectory of GKN’s key businesses, in particular drive-shaft business Driveline. "While slowing economic data from the Eurozone and Asia is likely to have some impact on global vehicle production if sustained, we believe the impact on GKN may be modest," the broker said in a note. "We leave our earnings per share estimates and 450p price target unchanged." Shares in GKN fell 10.5p or 3.4% to 294.9p at 12:19 in London.
i happen to agree with you on the exchange rates. A drop in the strength of the £ against the $ will be a lot better showing in the results as with all multinats that report in $. As for the drop this fast i think its the last of sept sell off for the certain people . hoping its a buy the dip and not a water fall decline.
I've just topped up, perfect buying opportunity in my eyes. Dropped from 430 ish in recent times with no real reason to the fundamentals. Car sales, civil aerospace are strong. $ strengthening against £ - only factor is the € weakness. Anyone else on this board, would welcome opinions and what your strategy is on this share and where you think it may go.