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.
Dec. 16, 2015, 7:37 PM
- Honeywell (NYSE:HON) gained 5.7% today to hit $104.08, just 3% below its 52-week high ($107.41 on Aug. 10), after the company updated guidance and forecast a 4-6% increase in revenues for fiscal 2016.
- The firm provided earnings guidance as well, largely in line with consensus estimates, though Stifel Nicolaus found the forecasts might please investors.
- "Given recent macro data points showing incremental weakening in the quarter and Honeywell’s pullback despite (or perhaps because) being a consensus sell and buyside long," wrote Stifel's Robert McCarthy, "we think this initial guidance range will give investors relief."
- He did say that some could quibble with "perhaps" an overly optimistic revenue guide as well as PMT performance expectations in a tough global environment.
Nov. 16, 2015, 10:33 AM
- Aerospace and defense shares are on the rise after calls to increase efforts to crush ISIS, the terrorist group responsible for Friday's attacks in France.
- Previously: World leaders wrap up G20 summit (Nov. 16 2015)
- Previously: French warplanes strike Islamic State targets in Syria (Nov. 15 2015)
- Related tickers: General Dynamics (GD +0.6%), Boeing (BA +0.2%), Northrop Grumman (NOC +3.2%), Lockheed Martin (LMT +2.5%), Raytheon (RTN +2.4%), Orbital ATK (OA +3.8%), Rolls-Royce (OTCPK:RYCEY +2.2%), Huntington Ingalls (HII +1.1%), Honeywell (HON +0.9%), United Technologies (UTX +0.4%), Airbus (OTCPK:EADSF), ITT (ITT +0.6%), Textron (TXT +1.7%), L-3 Communications (LLL +2.3%), BAE Systems (OTCPK:BAESY +2%), Finmeccanica (OTCPK:FINMY), Rockwell Collins (COL +1.7%).
Oct. 16, 2015, 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.
Oct. 16, 2015, 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
Apr. 17, 2015, 7:37 AM
- Net income of $1.12B, or $1.41 a share, vs. $1B, or $1.28 a share, in the same quarter a year ago.
- Q1 profit by segment: Aerospace +7%; Automation and Control Solutions +10%; Performance Materials +6%.
- Q1 sales by segment: Aerospace -6%; Automation and Control Solutions -3%; Performance Materials -5%.
- Honeywell (NYSE:HON) cut its 2015 sales outlook to a range of $39B-$39.6B from $40.5B-$41.1B and raised the lower end of its EPS outlook to a range of $6.00-$6.15 from $5.95-$6.15.
- HON -3.6% premarket
- Q1 results
Mar. 20, 2015, 7:05 AM
Dec. 15, 2014, 7:33 AM
- Honeywell (NYSE:HON) has lowered its Q4 sales forecast to $10.1B-10.2B from $10.3-10.4B, but reaffirmed its $1.37-$1.42 EPS estimate for the quarter.
- FY14 sales are expected to be in a range of $40.1-$40.2B, down from previous guidance of $40.3B-$40.4B. FY14 EPS is still anticipated to be in a range of $5.50-$5.55.
- The company forecasts 2015 organic sales growth of ~4%, up 1-2% Y/Y at $40.5B-$41.1B. 2015 EPS is expected to be between $5.95-$6.15, with free cash flow of $4.2-$4.3B.
- 2015 Outlook Conference Call at 9:00 a.m. ET
- HON +0.4% premarket
Oct. 17, 2014, 9:08 AM
- Honeywell (NYSE:HON) +3.1% premarket after reporting better than expected Q3 earnings and revenues, driven by sales gains in almost all segments and raising the lower end of its outlook for the year.
- HON's automation and control systems business, which supplies the commercial construction industry, added 9% to $3.67B, but aerospace sales were flat at $3.9B.
- Sales of performance materials and technologies rose 7% to $2.52B, while transportation systems sales fell 10% because of the sale of the friction materials segment this summer.
- issues new guidance for FY 2014: Raises EPS to $5.50-$5.55 from $5.45-$5.55 vs. $5.54 analyst consensus estimate, revenues to $40.3B-$40.4B from $40.2B-$40.4B vs. $40.$B consensus, segment margin to ~17% from 16.8%-17%.
- "Looking ahead to 2015, we’re once again planning for a slow growth macro environment but expect to continue delivering strong earnings growth," CEO Dave Cote says.
Dec. 13, 2013, 11:44 AM
- Substantially finished with a $3B repurchase program launched in 2011, Honeywell (HON +0.5%) is green-lighted by its board for a new $5B plan.
- This would be about 7% of the float based on the current price of $86.79 per share.
Oct. 18, 2013, 8:17 AM
- "Despite lower than expected sales in the quarter ... strong execution across the portfolio helped drive earnings at the high-end of our guidance range," Honeywell (HON) CEO Dave Cote says, as the company posts Q3 results that are largely in line with estimates.
- By segment (Y/Y): Aerospace sales fall 2% to $3.04B, while profit in the segment ticks 3% higher on 110 bps in margin expansion; Automation and Control Solutions sales rise 4%, while segment profit jumps 11% on a 90 bps margin expansion; Materials and Tech sales fall 1% organically (+10% reported on acquisition), profit up 11%; Transportation Systems sales rise 6%, segment profit jumps 23% on 190 bps of margin expansion.
- FY13 EPS outlook: $4.90-4.95 versus $4.85-4.95 previous. (PR)
- HON -1.3% premarket
Jul. 18, 2013, 11:20 AM
Shares of Honeywell (HON +0.6%) are all over the board after the UK Air Accidents Investigation Branch says its emergency locator beacons should be deactivated in Boeing's (BA) Dreamliner. The comments follow an investigation that ties the device to a fire at Heathrow Airport. The agency added that the FAA should also review use of lithium ELTs in other models. HON said yesterday that it would remove the bea cons if requested.| Jul. 18, 2013, 11:20 AM | 3 Comments
Jun. 26, 2013, 2:54 PM
Honeywell (HON +2.4%) moves up today after reporting earlier that it's been contracted by PNBV, a subsidiary of Petrobras (PBR), to supply UOP Separex membrane systems to process natural gas aboard four Floating Production, Storage and Offloading vessels. The company will also will provide ongoing offshore technical support and staff training for the project, which is expected to start up throughout 2016 and 2017.| Jun. 26, 2013, 2:54 PM
May 17, 2013, 1:07 PM
BofA took a trip to Phoenix, paid Honeywell's (HON +2%) Aerospace facilities a visit, and came away impressed after management said it believes "air transport hours bottomed in Q1" meaning demand should accelerate going forward "driving mid single digit aftermarket growth" in H2. Aerospace sales fell 1% in Q1. HON price target raised to $88 from $79.| May 17, 2013, 1:07 PM
Dec. 10, 2012, 7:38 AM