Honeywell Appears To Have A Lot To Offer
Stephen Simpson, CFA
Stephen Simpson, CFA
Fri, Feb. 12, 9:52 AM
Thu, Feb. 11, 9:58 AM
- Honeywell (HON -0.7%) has signed an agreement with the DARPA to provide a virtual reality instrument panel that replaces glass windows on Army vehicles, providing drivers with an enhanced, clearer 360-degree view.
- The first phase of the virtual windows development began in July 2015 and will continue through June 2016.
Thu, Feb. 4, 6:26 PM| Thu, Feb. 4, 6:26 PM | 2 Comments
Fri, Jan. 29, 7:36 AM
- Earnings excluding pension adjustments increased to $1.58 per share from $1.43 in the same quarter a year ago. Sales, hurt by lower demand for oil-and-gas equipment and services, fell 2.8% to $9.98B.
- Q4 profit by segment: Aerospace +29%; Automation and Control Solutions flat; Performance Materials +9%.
- Q4 sales by segment: Aerospace +4%; Automation and Control Solutions -3%; Performance Materials -12%.
- "We are planning conservatively in 2016 as we are expecting another year of slow global economic growth," said CEO Dave Cote. "But, we remain confident in Honeywell's ability to outperform."
- The company reaffirmed it 2016 earnings forecast of $6.45-$6.70 per share on sales of $39.9B-$40.9B.
- Q4 results
Fri, Jan. 29, 6:32 AM
- Honeywell (NYSE:HON): Q4 EPS of $1.58 in-line.
- Revenue of $9.98B (-2.8% Y/Y) in-line.
Thu, Jan. 28, 5:30 PM
Thu, Jan. 21, 9:47 AM
- Honeywell Aerospace's (HON) JetWave wireless in-flight connectivity system has received FAA approval for the Boeing 757.
- "The ability to connect with others is not a luxury anymore; it's an expectation of both passengers and pilots alike," said Jack Jacobs, vice president of Safety and Connectivity.
- The certification was achieved following more than 180 flight hours and multiple tests.
Thu, Jan. 21, 9:02 AM| Thu, Jan. 21, 9:02 AM | 6 Comments
Wed, Jan. 6, 2:54 PM
- United Technologies (UTX -3.2%) is downgraded to Neutral from Buy with a $100 price target by Sterne Agee CRT, which sees shares stuck in another tight trading range based on 14x-16x 2016-17 estimates over the next nine-plus months given limited operating income growth offset by aggressive buybacks.
- While buybacks support the downside in UTX stock, the upside is limited as only one of the company's four segments has operating income growth in 2016, the firm says.
- Sterne sees better risk/reward for investors over the next 12 months through Honeywell (HON -1.7%), which it calls a margin expansion story that offers confidence in achieving a premium multiple to the industrial group.
Wed, Jan. 6, 8:34 AM
- Honeywell (NYSE:HON) agrees to acquire the remaining 30% stake it does not already own in UOP Russell, which develops technology and manufactures modular equipment to process natural gas, for ~$240M.
- In 2012, HON acquired a 70% stake in the Thomas Russell Co. to form UOP Russell, which became part of Honeywell UOP; the parties agreed at the time to a mechanism for HON to acquire the remaining stake within three years of closing.
- Honeywell UOP has supplied equipment and pretreatment technology to more than 350 gas processing projects representing more than 20T cf/year of natural gas production and nearly 40% of global liquefied natural gas production.
Dec. 30, 2015, 2:45 AM
- Federal regulators are looking for ways to ensure that drones operating beyond sight - such as delivery drones - stay away from manned aircraft.
- A preliminary plan calls for relying on what is known a ADS-B technology, a system planes use to determine and broadcast their location via satellites, which would allow drones to sense manned aircraft and automatically avoid them.
- Alphabet has already proposed using a system similar to ADS-B but is less costly, while Amazon (NASDAQ:AMZN) has suggested segregating the airspaces between manned aircraft, and different types of drones.
- Related stocks: AMBA, AVAV, DJI, OTCQB:DRNE, DPZ, HON, INVN, IXYS, GPRO, TRMB
- Previously: Amazon releases new drone delivery video (Nov. 30 2015)
- Previously: More steps taken toward safe drone integration (Oct. 26 2015)
- Previously: Final commercial drone rules expected by next June (Jun. 18 2015)
Dec. 29, 2015, 7:54 AM
- Melrose (OTC:MLSPY) has completed the £3.3B sale of its Elster Group to Honeywell (NYSE:HON), returning £2.4B of the capital to its shareholders.
- Melrose remains "optimistic" it will identify a suitable new acquisition in due course, Chairman Christopher Miller declared.
- The sale of Elster leaves the company with only Brush, an electricity generation firm, as its only remaining asset.
- Previously: Honeywell expects Elster purchase to close next week (Dec. 22 2015)
Dec. 22, 2015, 3:15 PM
- Investors in industrial stocks should favor "safe havens” such as General Electric (GE +0.5%), Roper Technologies (ROP +1.2%), Honeywell (HON +1.6%), Ametek (AME +0.7%), Danaher (DHR +0.4%) and Xylem (XYL +0.9%) - "self-help stories with capital allocation/M&A catalysts, margin strength, pockets of end market positives, and low/manageable oil exposures" - RBC analysts say.
- Valuations look stretched in these safe havens, but the investment strategy at the outset of a rate hike cycle should always be to "inch up the quality curve” and start playing a bit more defensively, RBC says, adding that it sees incremental risk to oil-exposed stocks such as Underperform-rated Flowserve (FLS +1.2%) and SPX Flow (FLOW +2%).
Dec. 22, 2015, 7:20 AM
- All necessary regulatory approvals have been received for Honeywell's (NYSE:HON) acquisition of the Elster Division of Melrose Industries (OTC:MLSPY), and the company anticipates to close the transaction on December 29, 2015.
- Elster is a provider of thermal gas solutions, utility smart meters, software and data analytics solutions.
- Previously: EU clears Honeywell's Elster acquisition subject to conditions (Dec. 21 2015)
Dec. 21, 2015, 10:42 AM
- European Union antitrust regulators have approved Honeywell's (HON +1.6%) $5.1B purchase of Elster Group, subject to the company divesting its gas metering business.
- Selling all its shares in a plant manufacturing gas meters located in Germany would completely eliminate the overlap between Honeywell's and Elster's activities, the Commission said in a statement.
Dec. 17, 2015, 11:00 AM
- "Next year looks like another slow growth environment...I'm sticking to being conservative, slow growth, and that's just the way to plan the company."
- "We're going to support growth wherever we could find it...but we're going to be cautious on sales, and at the same time do a lot of seed planting (investing in geographies, products etc.)"
- "When it comes to acquisitions...we have $25B-$30B of capacity...so we have a lot of room."
- "One thing that still frustrates me is that our P/E multiple is lower than many of our peers."
- Link to interview
- Previously: Honeywell picks up 5.7% as investors cheer updated guidance (Dec. 16 2015)
Honeywell International, Inc. is a diversified technology and manufacturing company, which manufactures aerospace products, control technologies, power generation systems, specialty chemicals, fibers, plastics and electronic materials. The company provides a variety of services to its customers... More
Sector: Industrial Goods
Industry: Aerospace/Defense Products & Services
Country: United States
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