London, Feb 16, 2026, 14:27 GMT — Regular session
- Smiths Group shares down 0.15% in afternoon trade, lagging a firmer UK market
- Stock sits near the top end of its 52-week range after a strong run
- Focus turns to interim results next month and updates on disposals, buyback pace
Smiths Group Plc shares edged lower on Monday, bucking a firmer UK market as investors looked ahead to the engineering firm’s next update. The stock was down 0.15% at 2,612 pence by 1412 GMT, while the FTSE All-Share index rose 0.26%. (Fidelity International)
The move was modest, but the shares are trading near their recent highs, which can make them twitchy around the next catalyst. Smiths traded between 2,606 pence and 2,624 pence on the day and is within a 52-week range of 1,671 pence to 2,664 pence, according to market data. (Investing)
What matters now is less the tick-by-tick tape and more the shape of the company by mid-year. Smiths is trying to emerge as a tighter industrial technologies group, with a shrinking portfolio and a bigger emphasis on cash returns.
There was no fresh regulatory statement from the company on Monday and its most recent market filings have been tied to routine share repurchases, according to a UK regulatory news feed. (Investegate)
Smiths last set the tone in November, when it launched a £1 billion share buyback and reported 3.5% first-quarter organic revenue growth — organic strips out currency swings and acquisitions — helped by double-digit growth at its Detection unit. It also reaffirmed its financial forecast for 2026. (Reuters)
But the biggest uncertainty sits with the timetable and conditions around its deal-making. Smiths agreed in December to sell its Smiths Detection baggage-screening business to CVC for 2 billion pounds, including debt, and said it expected net cash proceeds of about 1.85 billion pounds after adjustments, with a “large portion” to be returned to shareholders; the deal is expected to close in the second half of 2026 and is subject to regulatory approvals and a works council consultation in France. (Reuters)
In October, Smiths agreed to sell its interconnect unit to Koch-owned Molex for an enterprise value of 1.3 billion pounds, in a transaction expected to close in the second half of fiscal 2026. Molex CEO Joe Nelligan said the deal would help it expand its aerospace and defence business. (Reuters)
Away from the deal headlines, Smiths has been pointing to commercial wins in its remaining industrial businesses. John Crane, which supplies flow-control equipment and services, flagged a run of customer wins last week, including multi-million-pound orders and multi-year service contracts, and President Ruben Alvarez said: “Our customers rely on us to keep their most critical equipment running safely, reliably and for longer.” (Smiths)
Smiths Detection also disclosed a Heathrow rollout in late January for its computed tomography, or CT, scanner — CT produces 3D images used to speed screening and detect threats — as part of a £1 billion technology upgrade at the airport. Andy Evripides, head of market for the UK and Ireland, said: “We are proud to support Heathrow’s journey toward modernised screening with the HI‑SCAN 6040 CTiX.” (Smiths)
For shareholders, the near-term watchlist is straightforward: whether the company can keep execution tight while deals work through approvals, and whether cash returns land when investors expect them. Any slippage, or a softer read on order momentum in John Crane and Flex-Tek, would test a stock that has already priced in a lot of progress.
Next up is Smiths’ announcement of FY2026 interim results on March 20, with investors also watching provisional interim dividend dates that follow in April and May. (Smiths)
