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Honeywell International Inc HON

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Stock XNAS Rating as of
$213.99 +0.19 (0.09%)
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As of Delayed Price Post-Trading: $212.00 −1.00

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Honeywell Technologies' Segments See Strong Order Growth, Signaling Revenue Growth Acceleration

Nicholas Lieb

In our view, Honeywell Technologies is one of the premier automation equipment manufacturers today. Its underlying strategy is similar in each end market: to embed its own equipment in the operations of customers, from which recurring revenue can be generated through aftermarket servicing. We predicate our long-term thesis on secular demand for warehouse automation, data analytics in power plants, remote security management, and energy savings in buildings. Many of Honeywell Technologies’ automation solutions offer customers meaningful returns on investment via greater uptime and throughput.

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Price vs Fair Value

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HON is trading at a LOCK|ZX?&QJ premium.
Price
$213.80
Fair Value
CHJ
Uncertainty
LOCK|Zr@?F
1-Star Price
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5-Star Price
LOCK|$.t
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The shift away from siloed, transactional sales toward connected systems with software overlays should continue to lower the cyclicality of operating performance and raise switching costs.

Bears

The spun-off aerospace business segment displayed strong countercyclical characteristics. Honeywell Technologies’ remaining portfolio risks outsize operating income declines in economic downturns.

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Trading Information

Previous Close Price
$213.80
Day Range
$212.54–216.13
52-Week Range
$196.98–496.36
Bid/Ask
$212.00 / $215.00
Shares Outstanding
316.94M
Market Cap
$67.82B
Volume/Avg
2M / 3M

Key Statistics

Price/Earnings (Normalized)
12.10
Price/Sales
1.89
Dividend Yield (Trailing)
3.67%
Dividend Yield (Forward)
1.31%
Dividend Payment Schedule
Mar, Jun, Sep, Dec
Total Yield
4.94%

Company Profile

Honeywell traces its roots to 1885 with Albert Butz's firm, Butz Thermo-Electric Regulator, which produced a predecessor to the modern thermostat. Other inventions by Honeywell include biodegradable detergent and autopilot. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment. It operates through four business segments: aerospace technologies, industrial automation, energy and sustainability solutions, and building automation. Recently, Honeywell has made several portfolio changes to focus on fewer end markets and align with a set of secular growth trends. The firm is working diligently to expand its installed base, deriving around one third of its revenue from recurring aftermarket services.
Sector
Industrials
Industry
Conglomerates
Stock Style Box
Mid Core
Total Number of Employees
101,000
Website
https://www.honeywell.com

Competitors

Valuation

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Metric
HON
ALLE
EMR
Price/Earnings (Normalized)
 12.1018.2825.05
Price/Book Value
 3.666.194.34
Price/Sales
 1.893.114.79
Price/Cash Flow
 12.4716.1221.46
Price/Earnings
HON
ALLE
EMR

Financial Strength

Metric
HON
ALLE
EMR
Quick Ratio
 0.761.130.49
Current Ratio
 1.211.930.90
Interest Coverage
 7.758.807.94
Quick Ratio
HON
ALLE
EMR

Profitability

Metric
HON
ALLE
EMR
Return on Assets (Normalized)
 6.27%12.65%7.07%
Return on Equity (Normalized)
 30.56%32.86%14.73%
Return on Invested Capital (Normalized)
 10.83%18.21%9.51%
Return on Assets
HON
ALLE
EMR

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