Barron’s recently suggested thee industrial stocks most likely to become buyout targets.

KeyBanc’s analysts believe moderate global economic growth will drive many chief executives to seek “inorganic” growth by spending big, Barron’s reported.

Eaton (ETN), Actuant (ATU), and Colfax (CFX) are three firms KeyBanc likes and identified as potential “sellers.” KeyBanc doesn’t predict the entire companies could be purchased, but that divisions could be sold, Barron’s reported.

“Eaton is an industrial conglomerate with many different divisions. Management already decided to spin off its lighting unit to shareholders earlier this year. KeyBanc thinks investors would approve if Eaton also shed its auto parts business,” Barron’s reported.

“Colfax makes welding equipment, among other items, and is often pruning its business portfolio. The company has purchased nine assets and sold two in the last five years. KeyBanc says management wants to reduce debt, which could drive more asset sales,” Barron’s said.

“Actuant is prone to strategic reviews and is trying to sell its engineered components business. KeyBanc thinks they will be successful and will redirect the cash into the remaining tools business,” the report said.

KeyBanc rates all three companies as “outperform,” and sees gains of 10%, 31% and 4% for Eaton, Colfax, and Actuant stock, respectively.

To be sure, the first quarter of 2019 saw no shortage of companies announcing big deals, with nine topping $10 billion. Dealmakers say that closing those transactions, though, is proving tougher than any time in the past decade, Bloomberg explained.

Regulatory delays -- the perennial bugbear of M&A -- aren’t the only reason for once. Deals are also being threatened by activist investors and hostile interlopers. Newmont Mining Corp. had to promise its largest dividend in 32 years to win over detractors of a $10 billion merger with Goldcorp Inc., while Merck KGaA is tussling with Entegris Inc. to try and one-up that company’s $3.8 billion offer for Versum Materials Inc.

Wellington Management Co.’s decision to publicly oppose Bristol-Myers Squibb Co.’s $74 billion takeover of Celgene Corp. was “a wake-up call to the market that we might be heading into an era where long-only institutions are going to be more vocal about M&A transactions,” said Dusty Philip, co-head of global M&A at Goldman Sachs Group Inc.

“Getting announced deals to closing this year is more difficult than it’s been at any time since the financial crisis,” Philip said.

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