Replies to post #13 on Eaton Corporation (ETN)

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Eaton, Cummins form JV for automated transmissions

Eaton (ETN +2.1%) and Cummins (CMI +0.8%) are higher after disclosing a joint venture for automated transmissions for heavy- and medium-duty commercial vehicles, to be named Eaton Cummins Automated Transmission Technologies.

CMI will pay $600M to ETN for a 50% stake in the JV to further integrate its engines with ETN's automated transmission system in the North American truck market.

Stifel reiterates its Hold rating and $150 price target on CMI, saying the JV deal "CMI)%3B+Eaton+(NYSE:ETN)+JV+Makes+Sense/12763211.html" target="_blank">makes sense."