|Bid||151.45 x 800|
|Ask||151.46 x 1000|
|Day's range||150.51 - 152.46|
|52-week range||131.35 - 165.13|
|PE ratio (TTM)||70.75|
|Earnings date||19 Jul 2018 - 23 Jul 2018|
|Forward dividend & yield||2.98 (1.98%)|
|1y target est||172.12|
United Technologies' (UTX) Climate, Controls & Security segment enters into a definitive agreement with The Middleby Corporation (MIDD) to sell Taylor Company.
Short interest data from April 30 show that Honeywell’s short interest has fallen to its lowest level in 2018, indicating the prevailing positive sentiments for the stock. As of April 30, its short interest as a percentage of outstanding shares was 0.9%, compared to 1.3% on January 12. The decline in HON’s short interest can be mainly attributed to its strong first-quarter earnings that beat analysts’ estimates.
Goldman Sachs Group Inc. is teaming up with former Honeywell International Inc. Chief Executive Officer Dave Cote to raise as much as $690 million to buy industrial companies. GS Acquisition Holdings Corp. has registered to sell as many as 69 million units at a maximum offering price of $10, according to a filing with the Securities and Exchange Commission. The investment vehicle is described as a “blank check company” for making mergers and acquisitions.
Viasat (VSAT) extends partnership with Honeywell. The company will provide its Ka-band in-flight Internet services to more global business aircraft.
In 2018, anywhere from 19 to 21 analysts have been tracking Honeywell (HON). Among the 20 that are currently tracking it, 80% have given it a “buy” recommendation, 20% have recommended a “hold,” and none of them have recommended a “sell.”
In a press release, Honeywell (HON) announced the key dates it would pay its second-quarter dividend. Its industrial peers 3M (MMM), General Dynamics (GD), and Stanley Black & Decker (SWK) have declared or paid second-quarter dividends of $1.36, $0.93, and $0.63 per share, respectively. At the end of the first quarter, HON reported 761 million outstanding shares.
As of May 16, Honeywell’s (HON) dividend was 2%, showing some signs of improvement. In comparison, peers Boeing (BA), United Technologies (UTX), and Textron (TXT) have dividend yields of 2%, 2.3%, and 0.13%, respectively. Long-term investors and dividend investors prefer stocks with higher dividend yields along with good dividend growth.
General Electric's (GE) Power Services business discloses advanced capabilities which will boost the performance and reliability of other OEM gas turbine fleets.
The dividend yield is what investors get in return for every dollar they invest in a company’s equity during their holding period. Higher dividend yields along with good growth attract long-term investors. As of May 15, 3M’s (MMM) dividend yield stood at ~2.7%, the highest it has been since the fourth quarter of 2015.
Third Point, the activist fund run by Dan Loeb, exited a series of high-profile positions during the first quarter, including stakes in Honeywell International Inc., Time Warner Inc., MGM Resorts International ...
On May 8, Sonatrach, the largest company in Algeria, said that it would use Honeywell’s (HON) UOP technology to expand its Skikda refinery on the Eastern Mediterranean coast of Algeria. As per the agreement, Honeywell will provide licenses, basic engineering design, and other services for the 81,000-barrel-per-day UOP Unicracking unit.
On May 8, 3M (MMM) announced its dividend for 2Q18. 3M’s board has declared a dividend of $1.36 per share—an increase of 15.7% on a YoY (year-over-year) basis. In 2Q17, 3M paid a dividend of $1.18 per share. To be eligible for the dividend, investors should hold the stock as of May 18. 3M intends to pay the dividend on June 12.
In 1Q18, Boeing’s (BA) Global Services segment’s revenues jumped 8.0% to $3.9 billion compared with $3.6 billion in 1Q17. Growth in commercial services boosted the segment’s revenues in 1Q18. The segment’s revenues accounted for 16.5% of total revenues in 1Q18, compared with 16.5% in 1Q17.
In the previous parts of this series, we discussed how the broader market S&P 500 Index (SPY) and major sectors of the S&P 500 Index performed in April. Modifications in Donald Trump’s import tariff imposition and companies’ 1Q18 earnings played important roles in market movement in April 2018.
KLX Aerospace Solutions, which is KLX Inc.’s (KLXI) primary business, is a global provider of aerospace fasteners, consumables, and logistics services. The company also offers oilfield services and associated rental equipment in North America as KLX Energy Services.
During its 1Q18 earnings call, General Electric (GE) stated that it expects earnings pressure in its Power unit. The industrial giant anticipates moderate earnings in the Renewables, Transportation, and Oil & Gas business lines in 2018. General Electric (CE) has a consensus rating of ~2.8 from analysts polled by Thomson Reuters, with a consensus “hold” opinion on the stock.
3M’s (MMM) Health Care segment accounted for 18.5% of revenues in 1Q18 compared to 18.7% in 1Q17, which implies that the segment’s contribution to 3M’s total revenue fell 0.2 percentage points year-over-year. The segment reported revenue of $1.5 billion in 1Q18 compared to $1.4 billion in 1Q17, implying revenue growth of 7.1% on a year-over-year basis.
3M’s (MMM) Safety and Graphics segment accounted for 21.5% of overall revenue in 1Q18 compared to 20.2% in 1Q17, an increase of 1.3 percentage points to its overall contribution to 3M’s revenue. In the past year, this segment had seen some divestitures and acquisitions. The growth was primarily driven by 6.9% growth in the form of organic-local currency, and favorable foreign currency translation boosted revenues by 4.9%, while the acquisition revenue of Scott Safety from Johnson Controls (JCI) adjusted to the various divestitures in the segment increased by 3.2%.
3M (MMM) reported revenues of $8.3 billion in 1Q18, an increase of 7.7% on a year-over-year basis compared to $7.7 billion in 1Q17. The posted revenues managed to beat Wall Street analysts’ estimate of $8.3 billion and represented a compound annual growth rate (or CAGR) of 1.6% for the first quarter since 2013. The increase in 3M’s revenue growth was primarily driven by strong currency gains, organic volume growth, and acquisitions.
3M (MMM) announced its 1Q18 earnings on April 24, 2018. It reported adjusted EPS (earnings per share) of $2.50, an increase of 15.7% on a year-over-year basis. In 1Q17, 3M posted adjusted EPS of $2.16. 3M was able to meet the Wall Street estimate of $2.50 to $2.51. The adjusted earnings per share exclude a net tax expense of $217 million, or $0.36 per share, resulting from the Tax Cuts and Jobs Act. It also excludes a lawsuit settlement with the State of Minnesota for $897 million, which translates into $1.16 per share.
General Electric’s (GE) overall revenues stood at $28.6 billion in 1Q18, exceeding Wall Street’s estimate of $27.4 billion by 4.4%. On a YoY (year-over-year) basis, GE’s revenues in 1Q18 were up 3.6% from $27.6 billion in 1Q17.
General Electric (GE) released its 1Q18 earnings on April 20. On an adjusted basis, the company’s earnings per share (or EPS) came in at $0.16, up 14.0% YoY (year-over-year) from the restated $0.14 in 1Q17. GE surpassed Thomson Reuters–surveyed analysts’ adjusted EPS target of $0.11 by a whopping 41.3%.
The Zacks Analyst Blog Highlights: Johnson & Johnson, Honeywell, Morgan Stanley, Novartis and eBay