Company Update (NYSE:HON): Honeywell Starts Full-Scale Production Of Low-Global-Warming Propellant, Insulating Agent, And Refrigerant

Honeywell International Inc (NYSE:HON) [PR Newswire] – MORRIS TOWNSHIP, N.J., Jan. 6, 2015 /PRNewswire/ — Honeywell (HON) announced today that it has started full-scale commercial production of a low-global-warming-potential (GWP) material used as an aerosol propellant, insulating agent and refrigerant. The material, known by the industry designation HFO-1234ze and marketed by Honeywell under its Solstice® line of low-global-warming materials, is being produced at the Honeywell Fluorine Products facility in Baton Rouge, La. “Honeywell’s Baton Rouge production facility is ready to serve customers around the world with this innovative material, which has an ultra-low GWP of less than 1,” said Ken Gayer, vice president and general manager of Honeywell’s Fluorine Products business.
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Honeywell International Inc. (HON), with a current market cap of $77.19B, started the session at $98.30.
 
Shares have traded today between $98.30 and $99.49 per share with a trailing 52-week range being $82.89 to $102.39.
 
Priced at 18.27x this year’s forecasted earnings, HON shares are relatively expensive compared to the industry’s 17.47x forward p/e ratio.
 
And for passive income investors, the company pays shareholders $2.07 per share annually in dividends, yielding 2.10%.
 
Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $1.42 per share, which would be $0.18 better than the year-ago quarter and a $0.05 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $5.54 would be a $0.57 better when compared to the previous year’s annual results.
 
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $10.23 Billion. If realized, that would be a 1.54% decrease over the year-ago quarter.
 
Recently, Stifel Nicolaus Initiated HON at Buy (Dec 5, 2012). Previously, Deutsche Bank Initiated HON at to Buy.
 
The average price target for HON shares by the analysts covering it is $108.95, which is 10.83% above where the stock opened.
 
Summary (NYSE:HON):  Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides turbine propulsion engines, auxiliary power units, environmental control and electric power systems, engine controls, flight safety, communications, navigation, radar and surveillance systems, and aircraft lighting products for aircraft manufacturers, airlines, business and general aviation, military, space, and airport operations, as well as offers management and technical, logistics, aircraft wheels and brakes, and repair and overhaul services. The company’s Automation and Control Solutions segment offers environmental and combustion controls, and sensing controls; security and life safety products and services; scanning and mobility devices; process automation solutions; and building solutions and services for homes, buildings, and industrial facilities. Its Performance Materials and Technologies segment provides resins and chemicals, hydrofluoric acid, fluorochemicals, nuclear services, research and fine chemicals, performance and imaging chemicals, chemical processing sealants, fibers and composites, healthcare and packaging products, specialty additives, electronic chemicals, semiconductor materials and services, catalysts, renewable fuels, and adsorbents and specialties. This segment offers products for applications in the refining, petrochemical, automotive, healthcare, agricultural, packaging, refrigeration, appliance, housing, semiconductor, wax, and adhesives segments. It also provides process technology, products, and services for the petroleum refining, gas processing, renewable energy, and other industries. The company’s Transportation Systems segment offers charge-air systems and thermal systems for passenger cars and commercial vehicles. Honeywell International Inc. was founded in 1920 and is headquartered in Morris Township, New Jersey.
 


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Amy Cotes

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