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Major group 38: Measuring, analyzing, and controlling instruments; photographic, medical and optical goods; watches and clocks
Companies whose SIC industry code starts with 381. Companies with no code (SIC 0) and shell companies (SIC 9995) are left out.
The tiles, heatmap and tables below use the industry’s S&P 500 companies.
Average profit weight in the industry over time
The mean profit weight over every ordered pair of the industry’s companies, each quarter: S&P 500 companies (solid) and all companies (faded). Click a quarter to show it.
Computed from the current data release, using every firm in the sample. Published papers used earlier releases and samples, so their figures differ slightly.
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Profit weights between the 4 largest companies, 2020 Q4
Each cell is the profit weight of the row company’s shareholders on the column company (darker: higher). Companies are ordered so that tightly linked groups form blocks. Largest means most reported owners. Click a cell to compare the two companies.
| Northrop Grumman Corp | L3Harris Technologies… | Flir Systems Inc | Teledyne Technologies | Report | |
|---|---|---|---|---|---|
| Northrop Grumman Corp | 0.66 | 0.48 | 0.50 | ||
| L3Harris Technologies Inc | 1.00 | 0.74 | 0.89 | ||
| Flir Systems Inc | 0.72 | 0.74 | 0.82 | ||
| Teledyne Technologies | 0.41 | 0.49 | 0.45 |
Investors who drive it, 2020 Q4
The investors that contribute most to the industry’s average profit weight: roughly, those holding sizeable stakes in many of its companies at once. Investor types are inferred from the forms each investor files with the SEC and are under review. Anyone filing Forms 3/4/5 counts as an insider unless they also file 13F, in which case they count as an asset manager (such as Carl Icahn).
- Big Three
- Asset manager
- Non-financial blockholder
- Activist
- Insider
| # | Investor | Type | Companies held here | Share of the average | SEC CIK | Report |
|---|---|---|---|---|---|---|
| 1 | Vanguard Group Inc | Big Three | 4 | 39% | 102909 | |
| 2 | BlackRock Inc. | Big Three | 4 | 23% | 1364742 | |
| 3 | State Street Corp | Big Three | 4 | 12% | 93751 | |
| 4 | Capital International Inc /Ca/*Capital International Sarl*Capital International LTD /Ca/*Capital Research Global Investors*Capital World Investors*Capital International Investors*Capital Bank & Trust Co | Asset manager | 3 | 11% | 732812 | |
| 5 | Price T Rowe Associates Inc /MD/ | Asset manager | 4 | 2% | 80255 | |
| 6 | Wells Fargo & Company/Mn | Asset manager | 4 | 2% | 72971 | |
| 7 | Geode Capital Management, LLC | Asset manager | 4 | 1% | 1214717 | |
| 8 | Janus Henderson Group PLC | Asset manager | 3 | 1% | 1274173 | |
| 9 | Bank of New York Mellon Corp | Asset manager | 4 | 1% | 1629943 | |
| 10 | Kayne Anderson Rudnick Investment Management LLC | Asset manager | 3 | 0.6% | 1021223 | |
| 11 | Royce & Associates LP | Asset manager | 4 | 0.6% | 38777 | |
| 12 | Northern Trust Corp | Asset manager | 4 | 0.4% | 73124 | |
| 13 | Bank of America Corp /DE/ | Asset manager | 4 | 0.4% | 70858 | |
| 14 | Invesco LTD. | Asset manager | 4 | 0.3% | 914208 | |
| 15 | Nuveen Asset Management, LLC | Asset manager | 4 | 0.3% | 1521019 | |
| 16 | Norges Bank | Asset manager | 3 | 0.3% | 1374170 | |
| 17 | Massachusetts Financial Services Co /MA/ | Asset manager | 2 | 0.3% | 912938 | |
| 18 | FMR Llc*Fil LTD | Asset manager | 4 | 0.2% | 315066 | |
| 19 | Earnest Partners LLC | Asset manager | 4 | 0.2% | 1102578 | |
| 20 | UBS Asset Management Americas Inc*Ubs Group AG | Asset manager | 4 | 0.2% | 1610520 | |
| 21 | Morgan Stanley | Asset manager | 4 | 0.2% | 895421 | |
| 22 | Legal & General Group PLC | Asset manager | 4 | 0.2% | 764068 | |
| 23 | Wellington Management Group LLP | Asset manager | 4 | 0.2% | 902219 | |
| 24 | Ameriprise Financial Inc | Asset manager | 4 | 0.2% | 820027 | |
| 25 | Charles Schwab Investment Management Inc | Asset manager | 4 | 0.2% | 884546 |
The companies, 2020 Q4
| Company | Reported owners | Reported ownership | SEC CIK | Report |
|---|---|---|---|---|
| Northrop Grumman Corp SIC 3812 · S&P 500 | 1107 | 82.96% | 1133421 | |
| L3Harris Technologies Inc SIC 3812 · S&P 500 · outlier | 1083 | 80.47% | 202058 | |
| Teledyne Technologies SIC 3812 · S&P 500 | 464 | 89.57% | 1094285 | |
| Flir Systems Inc SIC 3812 · S&P 500 | 459 | 92.95% | 354908 |
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