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Honeywell International, Inc. (HON)

  • Oct. 31, 2014, 9:03 AM
    • Honeywell (NYSE:HON) bumps of its annual dividend by 15% to $2.07, representing an annual yield of 2.16%.
    • The quarterly dividend is payable on Dec. 10, to stock holders on record of Nov. 20
    • Shares +1.4% PM.
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  • Oct. 29, 2014, 10:42 AM
    • The Equal Employment Opportunity Commission is suing Honeywell (HON +0.1%) over a health care policy that requires employees and their spouses to take medical tests or face monetary penalties.
    • The lawsuit is seeking a temporary injunction to stop the biometric testing, which can identify smoking, diabetes, high blood pressure, obesity and other health problems.
    • The EEOC claims Honeywell's new health screening policy violates the Americans with Disabilities Act and the Genetic Information Nondiscrimination Act, although the company says the screening and wellness program "are in strict compliance with both HIPAA and the Affordable Care Act's guidelines."
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  • Oct. 21, 2014, 10:51 AM
    • Honeywell (HON +2.1%) and DuPont (DD +1.4%) were sent a statement of objections by EU regulators for violating antitrust rules over a global refrigerant for car air conditioners.
    • "The cooperation they entered into in 2010...may have limited its (the refrigerant's) availability and technical development, in breach of EU antitrust rules," the European Commission said in a statement.
    • The car-coolant (R-1234yf) is the only chemical that currently meets new EU standards on greenhouse-gas emissions.
    • Responding to the claim, Thierry F.J. Vanlancker, President of DuPont Chemicals & Fluoroproducts, says "DuPont has complied at all times with applicable laws...and we plan to defend vigorously against the Commission's allegations and preliminary conclusions. We will fight this every step of the way, as it has no basis in law or fact."
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  • Oct. 20, 2014, 7:16 AM
    • Honeywell's (NYSE:HON) annual forecast of global deliveries estimates as many as 9,450 new business jets valued at about $280B between 2014 and 2024, about $30B and 200 more than predicted a year earlier when it reduced the expected number of deliveries 8% from about 10K.
    • The introduction of new models and increased buying activity among fractional jet operators are helping accelerate new deliveries, offsetting steep declines among manufacturers of smaller jets providing “reason for some cautious optimism,” says Brian Sill, Honeywell's president of business and general aviation.
    • Still, a full recovery from the global recession (which nearly halved jet deliveries from the 2008 peak of more than 1,300 aircraft) may take some time.
    • Last year, the company expected to return to the $22B in jet billings seen at the 2008 peak by 2016, but its latest forecast moves that back another year to 2017. Overall deliveries aren't expected to top 1K again annually until 2023.
    • Honeywell, which supplies business-jet manufacturers with everything from advanced avionics to jet engines, expects deliveries of between 650 and 675 new jets, basically flat over 2013’s 678 shipments. The value of those deliveries will outpace the growth in units compared with 2013's estimate, growing the market by 7%-8% to $280B from 2014 to 2024.
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  • 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.
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  • Oct. 17, 2014, 7:02 AM
    • Honeywell International (NYSE:HON): Q3 EPS of $1.43 beats by $0.02.
    • Revenue of $10.11B (+4.8% Y/Y) beats by $70M.
    • Press Release
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  • Oct. 16, 2014, 5:30 PM
  • Sep. 30, 2014, 6:52 PM
    • The FAA orders Boeing (NYSE:BA) to replace pilot displays on more than 1,300 jets, including some of the newest 737 models, to prevent possible interference from Wi-Fi devices used in cockpits.
    • The final safety directive aims to ensure that essential information such as airspeed, altitude and heading does not temporarily disappear from certain instrument displays manufactured by Honeywell (NYSE:HON).
    • The new directive applies to nearly 10x the number of planes covered under an FAA proposal last fall; U.S. airlines will have five years to swap out the displays on Boeing 777 and 737 models.
  • Sep. 29, 2014, 10:21 AM
    • Tata Power's defense engineering unit has signed an agreement with Honeywell (HON -0.6%) to produce the company's TALIN (Tactical Advanced Land Inertial Navigator) navigator in India.
    • TALIN gives precision navigation for vehicles and artillery movement, even where GPS satellite guidance is limited.
    • Honeywell will license the design and hardware to assemble and build the production kits for the navigation system in India, giving a boost to New Delhi's efforts to encourage local defense manufacturing.
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  • Sep. 16, 2014, 2:47 PM
    • Honeywell (HON +0.3%) and its suppliers plan to spend $900M in coming years for research and development and to expand capacity to increase production of more environmentally friendly refrigerants, insulation materials, solvents and aerosols.
    • HON says it has spent nearly $350M so far for efforts to create products to reduce greenhouse gas emissions, reduce energy consumption and meet proposed tighter U.S. environmental regulations and plans to spend $550M more to support the new products.
    • The proposal includes a planned $300M plant at its Geismar, La., operation that was unveiled late last year, which will produce a more environmentally friendly refrigerant for automobiles and is expected to fully operational in 2016.
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  • Aug. 26, 2014, 7:19 AM
    • The lockout of 135 union employees at Honeywell's (NYSE:HON) uranium conversion plant in Illinois looks like it will extend past a month as the two sides negotiate on issues such as subcontractors, pay, healthcare benefits and work rules.
    • The plant converts uranium oxide into uranium hexafluoride, which is then enriched to be used as fuel in nuclear power plants. Honeywell is continuing to operate the plant with the remaining employees who are non-union.
    • The company says it is committed to bargaining in good faith, but is concerned about the plant's competitiveness. The facility accrued $300M in operating losses over the past 10 years and is just starting to break even.
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  • Aug. 19, 2014, 10:27 AM
    • Honeywell's (HON -0.3%) subsidiary, UOP, has been selected by BW Offshore to remove contaminants from natural gas aboard a new floating production, storage and offloading vessel off the coast of Scotland.
    • UOP is continually innovating to create lightweight, compact, chemical-free equipment that is ideal for the complex offshore gas environment," says SVP Rebecca Liebert.
    • The vessel, will be leased to Premier Oil (OTCPK:PMOIY), and will include a UOP Separex Membrane System which cleans natural gas streams by removing carbon dioxide and water vapor.
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  • Jul. 28, 2014, 10:28 AM
    • Honeywell's (HON -1.1%) BendixKing division has announced its affordable Internet system data plan aimed at general aviation aircraft.
    • The new data plan transforms the status quo of data consumption allowing owners and operators to purchase data based upon how many hours they use vs. how much data they consume. Operators will be able to purchase 50 hours of internet connectivity for $1,999.
    • "With the data plan for AeroWave 100, we eliminated the ridiculously expensive price barrier for obtaining in-flight connectivity for the light jet and turboprop market," says BendixKing President Kevin Gould. "Delivering real, usable Internet connectivity for under $40 per hour completely changes the market."
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  • Jul. 25, 2014, 9:45 AM
    • Honeywell (NYSE:HON) declares $0.45/share quarterly dividend, in line with previous.
    • Forward yield 1.87%
    • Payable Sept. 10; for shareholders of record Aug. 21; ex-div Aug. 19.
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  • Jul. 18, 2014, 8:51 AM
    • Total Honeywell (NYSE:HON) sales rose 6% Y/Y to 10.3B, bringing up operating income margin 110 bps to 15.4% from 14.3%.
    • Cash flow from operations climbed 7% Y/Y to 1.3B, with a free cash flow of $1.1B rising 5% Y/Y.
    • The company lowered its full-year sales guidance to $40.2B-$40.4B from $40.3-$40.7B, a drop of 3-4%, but increased its EPS expectations 10-12% to a full-year target of $5.45-$5.55.
    • Segment performance: Aerospace sales of $3B were flat Y/Y driven by 1% commercial sales growth and offset by a 1% decline in defense & space.
    • Automation and control solution sales were up 10% reported, 3% organic Y/Y, propelled by the favorable impact of acquisitions net of divestitures and growth in energy, safety, and security.
    • Performance materials and technologies sales rose 6% Y/Y due to UOP catalyst and gas processing growth and higher sales in advanced materials.
    • Transportation systems sales increased 8% reported, 4% organic Y/Y pushed by continued growth from new platform launches, higher global automotive production, and increased commercial vehicle demand in Europe.
    • Q2 results
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  • Jul. 18, 2014, 7:03 AM
    • Honeywell International (NYSE:HON): Q2 EPS of $1.37 beats by $0.01.
    • Revenue of $10.25B (+5.8% Y/Y) beats by $60M.
    • Press Release
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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.