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Honeywell International, Inc. (HON)

  • Thu, Nov. 26, 5:03 AM
    • President Obama has signed a sweeping defense policy bill into law despite provisions that make it harder to close the Guantanamo Bay military prison.
    • The legislation authorizes $607B in annual defense spending and "includes vital benefits for military personnel, facilitates ongoing operations around the globe, and important reforms to the military retirement system."
    • Related tickers: GD, BA, NOC, LMT, RTN, OA, HII, HON, UTX, ITT, TXT, LLL, COL
    | Thu, Nov. 26, 5:03 AM | 68 Comments
  • Fri, Nov. 20, 11:30 AM
    • Market growth remains challenging whether there is an industrial recession or not, so investors should focus on stocks with strong end markets, particularly Allegion (ALLE +0.3%) and Danaher (DHR +0.5%), Bernstein's Steven Winoker says.
    • Other stocks in a lower but still generally favorable tier include General Electric (GE +0.8%), Honeywell (HON +0.9%), Ingersoll-Rand (IR +0.9%) and 3M (MMM +0.7%), as these companies are exposed to favorable end markets but also to meaningfully weak markets, the analyst says.
    • Aside from their portfolio transformations, DHR and GE have benefited and should continue to benefit from their above-average growth profiles in the current low-growth environment, Winoker says.
    • Energy-heavy Dover (DOV +0.2%), Pentair (PNR +0.4%) and Emerson Electric (EMR +0.2%) remain the most challenged, according to Winoker, while Eaton (ETN +1.1%), Rockwell Automation (ROK +0.5%) and Tyco (TYC -0.2%) have a mix of tailwinds and headwinds, with the former more challenged on hydraulics/trucks and the latter two on energy.
    • Winoker sees limited downside for DOV, which is highly linked to crude oil prices but is performing well in the ~80% of its portfolio not linked to oil.
    • Earlier: Low expectations are no longer enough for multi-industry stocks, analyst says (Nov. 19)
    | Fri, Nov. 20, 11:30 AM | 3 Comments
  • Thu, Nov. 19, 6:25 PM
    • A sluggish U.S. economy is likely to make life tough next year for industry conglomerates such as Danaher (NYSE:DHR), Honeywell (NYSE:HON), Tyco (NYSE:TYC), Emerson Electric (NYSE:EMR) and General Electric (NYSE:GE), says Bernstein's Steven Winoker.
    • The analyst notes that Q3 saw 12 of Bernstein's 13 covered companies miss on revenues, 10 either lower FY 2015 EPS guidance or issue below-consensus FY 2016 guidance, and none raise growth guidance, yet 10 stocks outperformed during earnings season.
    • The companies "can’t transform their way out of the reality of a low growth world, which became even more challenging this quarter, with an indication of the worst still to come," Winoker writes, expecting guidance conservatism from the group during investor meetings before the end of the year.
    • Also: MMM, ROK, IR, ETN, ALE, IEX
    | Thu, Nov. 19, 6:25 PM | 17 Comments
  • Mon, Nov. 16, 10:33 AM
    | Mon, Nov. 16, 10:33 AM | 3 Comments
  • Mon, Nov. 16, 7:49 AM
    • Honeywell (NYSE:HON) has signed an agreement to acquire privately-held Satcom1, a provider of on board communications routing software and airtime/consulting services.
    • The purchase positions Honeywell to offer an all-in-one connectivity solution spanning routing software, airtime, hardware equipment, avionics, flight support services and applications.
    • Satcom1 revenues for 2015 are expected to be approximately $25M.
    | Mon, Nov. 16, 7:49 AM | Comment!
  • Wed, Nov. 11, 9:19 AM
    • Honeywell Aerospace (NYSE:HON) has sealed a contract to supply its next-generation HTS900 engine to Marenco Swisshelicopter, under the first production aircraft agreement for the company's new engine.
    • The engine, which weighs just 338 pounds, features a dual centrifugal compressor that generates a power output of over 1,000 shaft horsepower and reduces fuel consumption.
    | Wed, Nov. 11, 9:19 AM | 2 Comments
  • Thu, Nov. 5, 5:59 PM
    • Honeywell (NYSE:HON) agrees to acquire Canadian satellite and space components maker Com Dev International (OTCPK:CDVIF) for C$455M (US$345M) in a move to expand its presence in the space market.
    • HON will get Com Dev's electrical and optical components and subsystems equipment businesses, which makes hardware components for satellites and other space-based systems; Com Dev will spin off its exactEarth subsidiary to its shareholders before the Honeywell deal closes.
    | Thu, Nov. 5, 5:59 PM | 1 Comment
  • Mon, Nov. 2, 12:45 PM
    • China rolls its first homegrown large passenger jet off the production line, aiming to challenge the dominance of Boeing (NYSE:BA) and Airbus (OTCPK:EADSF, OTCPK:EADSY) in the global commercial aviation market.
    • The Chinese C919 is a twin-engine, narrow-body aircraft seating up to 174 people that is similar in size to the Airbus 320 and Boeing 737 series of jets, long the workhorses for airlines around the world.
    • Although the C919's maiden flight is at least a year away, the government wants to use the plane as a springboard to develop a nationwide aviation industry.
    • Some aviation enthusiasts are not so sure about the state media's claim that the C919 is a product of "complete Chinese intellectual property," noting that key components are made overseas, including the engines by GE-Safran (OTC:SAFRF) JV CFM International, and power system and landing gears by Honeywell (NYSE:HON).
    | Mon, Nov. 2, 12:45 PM | 47 Comments
  • Fri, Oct. 30, 9:46 AM
    • Honeywell (NYSE:HON) declares $0.5950/share quarterly dividend, 15% increase from prior dividend of $0.5175.
    • Forward yield 2.31%
    • Payable Dec. 10; for shareholders of record Nov. 19; ex-div Nov. 17.
    | Fri, Oct. 30, 9:46 AM | 5 Comments
  • Tue, Oct. 20, 8:34 AM
    • Honeywell (NYSE:HON) has agreed to acquire the Germany-based research chemicals business of Sigma-Aldrich (NASDAQ:SIAL), a U.S. supplier of laboratory testing materials, for approximately €105M ($120M).
    • The business makes research chemicals and other materials used in new drug discovery and medical diagnostic testing, and will be folded into Honeywell's Fine Chemicals arm.
    | Tue, Oct. 20, 8:34 AM | 1 Comment
  • Fri, Oct. 16, 3:11 PM
    • Honeywell (HON -2%) is looking at sizable acquisitions, perhaps even larger than the $5.1B it paid for Elster, with CFO Tom Szlosek saying at its earnings conference call that "we’ve got a pipeline that’s got plenty of opportunities of that size or bigger.”
    • HON would not wait to integrate Elster before it hunts for more deals, Szlosek said; although a large acquisition is not imminent, the market may "start seeing some further deals being announced," the CFO said.
    • CEO Dave Cote said the Volkswagen scandal is "far from a disaster" for HON, noting sales to VW represent less than 1% of its total and that the company is not dependent on any one vehicle manufacturer.
    | Fri, Oct. 16, 3:11 PM | Comment!
  • Fri, Oct. 16, 7:55 AM
    • Net income of $1.3B, or $1.60 a share, vs. $1.2B, or $1.47 a share, in the same quarter a year ago.
    • Q3 sales by segment: Aerospace -2%; Automation and Control Solutions -3%; Performance Materials -13%.
    • Q3 profit by segment: Aerospace +5%; Automation and Control Solutions +5%; Performance Materials +4%.
    • Although it reiterated its 2015 EPS forecast of $6.05-$6.15, the company lowered its full-year revenue outlook to $38.7B from $39B-$39.6B.
    • HON -0.5% premarket
    • Q3 results
    | Fri, Oct. 16, 7:55 AM | Comment!
  • Fri, Oct. 16, 6:32 AM
    • Honeywell (NYSE:HON): Q3 EPS of $1.60 beats by $0.05.
    • Revenue of $9.61B (-4.9% Y/Y) misses by $240M.
    • Press Release
    | Fri, Oct. 16, 6:32 AM | Comment!
  • Thu, Oct. 15, 5:30 PM
  • Tue, Sep. 22, 6:28 PM
    • Volkswagen's emissions rigging scandal should not prove too harmful to Honeywell (NYSE:HON) and Eaton (NYSE:ETN), says Bernstein’s Steven Winoker as he reiterates Outperform rating on both stocks, with a $125 price target on HON and $78 on ETN.
    • In HON’s case, Winoker says the news certainly is not a positive but the overall direct exposure seems minimal, as the company’s direct exposure to VW in the U.S. represents less than 2% of Honeywell Turbo OE sales, and ~20% of diesel engines; also, the turbo exposure is not on the two-liter diesel impacted engines.
    • ETN has slightly higher exposure than HON but not much, Winoker estimates.
    | Tue, Sep. 22, 6:28 PM | 4 Comments
  • Mon, Sep. 21, 10:34 AM
    • Yahoo Finance's new Editor-in-Chief, Andy Serwer, recently interviewed Honeywell (HON +0.4%) CEO Dave Cote to discuss the company's acquisition track record and U.S./global economic outlooks.
    • On Honeywell's acquisition strategy, Cote said: "You need to have a unifying approach, which is what we have with our business model. I've always looked at it this way and I think we've done a better job of communicating it over the last few years. Our business model comprises three parts: the first is to have the right kind of portfolio, the second is to have a focus on internal processes, and then the third is a culture that applies to both."
    • Discussing Honeywell's recent acquisition of Elster helped Cote to explain the company's desire to take on bigger deals and continue to gain shareholder confidence in conglomerates.
    • Cote also commented on Honeywell's response to the recent shifts in China and expressed his long-term belief in the country's economy and growth. Although we are in a slow growth environment, Cote noted that the U.S. is still the most productive economy in the world.
    | Mon, Sep. 21, 10:34 AM | 4 Comments
Company Description
Honeywell International Inc is a technology & manufacturing company, serving customers with aerospace products & services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, chemicals.