He mentioned Eaton(ETN), SPX(SPW) and Danaher(DHR) but said he doesn't think they're "there" yet. "Perhaps industrials represent some value," he said.

Let's put PPG (PPG) and Danaher (DHR) in that category too. Maybe Honeywell (HON), although it has more aerospace as a percentage of business than UTX does.

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solid earnings history

I wish I had never sold CAT, as it figured out simply to not talk about the U.S. Honeywell was the same way. Danaher (DHR), too.

Danaher (DHR) was upgraded from Hold to Buy, Deutsche Bank said. Stock has lost its usual market premium, and margins can still expand despite lower organic growth. $90 price target.

doing all the right things

Mitchell Rales

Same as above for diversification.

Danaher (DHR) was upgraded to Outperform, Bear Stearns said. $95 price target. Stock has performed well, but still underperformed its peers. Recent equity financing also gives the company added financial flexibility.