Honeywell stock market

Honeywell stock market

Posted: mMG Date: 08.07.2017

Shares of Honeywell rose as much as 4 percent after hours following news that Dan Loeb's Third Point had added to its stake in the company. The hedge fund disclosed its stake in Honeywell in its first-quarter investor letter. As of Dec 31, Third Point owned 1. The firm has substantially added to the Honeywell stake it reported at the end of last year, a person familiar with the fund told CNBC.

Honeywell is a top-five holding of Third Point's now, the person said.

Honeywell

In the investor letter, Third Point said Honeywell's stock is trading "at a substantial discount to its industry peer group. In a statement, Honeywell said it "strives to keep an open dialogue with all of its shareholders.

HON Stock Price - Honeywell International Inc. Stock Quote (U.S.: NYSE) - MarketWatch

We are focused on enhancing shareholder value and will continue to evaluate all ideas that have the potential to help us achieve this goal. But operating margins for the aerospace segment were lower last year and it is expected to experience a second year of falling revenue in The aerospace business has faced headwinds from an industry-wide slump in the business jet market as well as weakness in the defense and space markets.

honeywell stock market

The commercial side of the business suffered a 13 percent slide in sales last year, while the defense and space portion was down by 7 percent. That said, Honeywell has been helped by sales of Lockheed Martin's F Joint Strike Fighter, a stealth aircraft with power thermal management systems built by Honeywell.

Also, ongoing overhaul and repair of some legacy planes such as the B operated by the U. Honeywell's new CEO, Darius Adamczyk, took the reins at the Morris Plains, New Jersey-based company on March 31 and has indicated one of his priorities will be to accelerate organic growth within the company, which has four different business segments: One of its fastest growing areas is the home automation market, where it makes everything from high-tech thermostats to alarm systems controlled by smartphones.

It also sells advanced lighting technology, including control systems and actual LED lights. At Honeywell's analyst day event last month, Adamczyk also indicated he would focus on expanding margins, more aggressive capital deployment, and "transforming the company from an industrial company to a software industrial company. The activist investor group said similar companies today enjoy a price-earnings multiple of 23 times, or roughly 30 percent premium to Honeywell's forward multiple.

Added Third Point, "A more focused Honeywell should match or exceed the multiples of its peer group, especially if management delivers on its commitment to return to free cash flow conversion in excess of percent by Historically, Honeywell has done more acquisitions than business divestitures.

It also sold the government services unit in the aerospace segment to KBR , an engineering and construction firm. Honeywell said in its statement Thursday that its "management and board regularly conduct portfolio assessments and have a demonstrated track record of effective portfolio realignment and capital deployment actions.

The company added, "Regarding the Third Point investment thesis, we intend to take the time necessary to ensure a comprehensive, informed and objective review of the potential separation of the aerospace business.

Asia Europe Stocks Commodities Currencies Bonds Funds ETFs Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Fund Screener Tech Mobile Social Media Enterprise Gaming Cybersecurity Tech Guide Make It Entrepreneurs Leadership Careers Money Specials Shows Video Top Video Latest Video U.

HON - Honeywell Stock quote - fadukuvo.web.fc2.com

Video Asia Video Europe Video CEO Interviews Analyst Interviews Full Episodes Shows Watch Live CNBC U. Business Day CNBC U. Primetime CNBC Asia-Pacific CNBC Europe CNBC World Full Episodes. Log In Register Log Out News Economy Finance Health Care Real Estate Wealth Autos Consumer Earnings Energy Life Media Politics Retail Commentary Special Reports Asia Europe CFO Council.

Asia Europe Stocks Commodities Currencies Bonds Funds ETFs. Make It Entrepreneurs Leadership Careers Money Specials Shows Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Fund Screener.

Tech Mobile Social Media Enterprise Gaming Cybersecurity Tech Guide Video Top Video Latest Video U.

Video Asia Video Europe Video CEO Interviews Analyst Interviews Full Episodes. Primetime CNBC Asia-Pacific CNBC Europe CNBC World Special Reports Top States Paris Airshow Trailblazers Trading the World CNBC Disruptor 50 Lasting Legacy Modern Medicine College Game Plan Investing in: Israel Tech Drivers The Brave Ones Trading Nation Shaping the future Future Opportunities.

Register Log In Profile Email Preferences PRO Sign Out. Business Earnings Transportation Defense Materials and Metals. Honeywell stock jumps more than 4 percent on news of Third Point stake Third Point wants Honeywell to spin off its aerospace segment Pushing for management to transform the conglomerate into an "software industrial company" Activist investor group owns 1.

Jeff Daniels Coordinating Producer.

inserted by FC2 system