The U.S. Navy has awarded an $8.9 million contract to Honeywell International Inc (HON). The new work is in addition to a previously awarded contract for the development of 131 Advance Multipurpose Displays for lot 35 F/A-18F and EA-18G aircraft.
Honeywell also was awarded a $1.34 million contract by the U.S. Army for enhancements to the OH-58D Kiowa Warrior aircraft’s control display system.
Envergent Technologies LLC, a Honeywell company, has been selected by Premium Renewable Energy (Malaysia) to perform design work for a project using Envergent’s technology to convert palm biomass to renewable heat and electricity.
The project is an endeavor of the Malaysian government’s Economic Transformation Program that aims to create a high-growth economy by 2020 in a sustainable manner.
Honeywell is a leading supplier of electronics, consumable hardware, engine controls, environmental controls, landing systems, power systems, propulsion engines, aerospace services and space products and systems for the aerospace industry, including commercial and regional airlines, air cargo carriers, as well as Original Equipment Manufacturers (OEMs) of commercial, regional, military aircraft and spacecraft.
Honeywell’s attractive collection of businesses has the potential to earn consistent above-average returns. The company’s focus on working capital management, free cash flow generation and balance sheet strength remain positive attributes in the current weak environment.
The company is a global leader in refrigerants, aerosols and foam-insulation blowing agents used to replace ozone-depleting Chlorofluorocarbon and Hydro chlorofluorocarbons. Those same products also improve the energy efficiency of homes, appliances and commercial refrigeration systems.
The company’s proactive restructuring initiatives have positioned it to navigate better than many of its peers, but we have yet to see signs of stabilization in a number of its major end-markets.
At Automation and Control Systems, the largest segment by revenue, industrial customers are delaying both capital and operating spending across a number of businesses, driven by weakening demand.
Honeywell International Inc. is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals,. The primary competitors include Johnson Controls Inc (JCI) and United Technologies Corporation (UTX).
We currently have a Neutral recommendation on Honeywell.
HONEYWELL INTL (HON): Free Stock Analysis Report
JOHNSON CONTROL (JCI): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
Zacks Investment Research
