Smiths Group completes £1.3bn Interconnect sale and launches major buyback

Smiths Group plc ( (GB:SMIN) ) has provided an announcement.

Smiths Group has completed the sale of its Smiths Interconnect division to Molex Electronic Technologies Holdings, a Koch company, following an agreement first announced in October 2025. The move sharpens Smiths’ profile as a high-performance industrial engineering group focused on core markets, while shifting the Interconnect business to an owner more squarely rooted in electronic technologies.

The transaction generates about £1.3 billion in cash proceeds, of which £1 billion is being returned to shareholders via an ongoing share buyback programme. The remaining funds will be deployed into value-creative growth opportunities and used to strengthen Smiths’ balance sheet, underlining management’s intent to unlock capital from non-core assets and reinvest in higher-return areas for long-term stakeholder value.

The most recent analyst rating on (GB:SMIN) stock is a Hold with a £2474.00 price target. To see the full list of analyst forecasts on Smiths Group plc stock, see the GB:SMIN Stock Forecast page.

Spark’s Take on SMIN Stock

According to Spark, TipRanks’ AI Analyst, SMIN is a Neutral.

The score is driven primarily by solid profitability, balance sheet stability, and strong cash conversion, reinforced by a positive earnings outlook and shareholder returns. These strengths are tempered by weak technical momentum (downtrend and bearish MACD) and a relatively high P/E multiple despite a moderate dividend yield.

To see Spark’s full report on SMIN stock, click here.

More about Smiths Group plc

Smiths Group is a London-listed industrial engineering company with a 175-year history and global operations in more than 50 countries. It focuses on engineering solutions for energy, industrials, construction and aerospace markets, addressing global needs such as decarbonisation and rising demand for process and energy efficiency.

Average Trading Volume: 1,432,753

Technical Sentiment Signal: Buy

Current Market Cap: £6.92B

See more data about SMIN stock on TipRanks’ Stock Analysis page.