Honeywell International (HON) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
After Honeywell issued a press release announcing that its board has made "significant progress" on its comprehensive portfolio evaluation launched earlier this year and continues to explore strategic alternatives, including the potential separation of its Aerospace business, BofA said the release signals an Aero breakup is "likely in the works." Elliott also issued a press release today, saying that it "welcomes Honeywell's announcement," notes the analyst, who says the engagement between Honeywell and the activist "seems to be amicable." The firm, which adds that breakups create value, but notes that "stocks tend to be relatively 'stuck' as the breakup takes place," maintains a Neutral rating and $240 price target on Honeywell shares.
Honeywell International (HON) shares advanced Monday as the conglomerate issued an update on its portfolio review begun earlier this year, noting that it is considering spinning off its aerospace unit.
Industrial conglomerate Honeywell International Inc (NASDAQ:HON) said it is considering selling its aerospace unit, and expects an update in January after the release of its fourth-quarter earnings results.
Last month, Elliott Investment Management advised some changes for the industrial conglomerate.
Honeywell draws support for a strategic review from Elliott management as airlines and defense sectors scale up.
Avianca selects Honeywell's avionics and mechanical systems portfolio to enhance the operational performance and efficiency of its Airbus A320neo fleet.
Carter Worth, Worth Charting, joins 'Fast Money' to talk the technical trade on Honeywell.
Kevin Simpson, Capital Wealth Planning founder and CIO, joins CNBC's "Halftime Report" to explain why he's buying more Honeywell.
Melton Hospital selects HON to manage its building automation systems and enhance energy efficiency.
Honeywell International Inc. (NASDAQ:HON ) Goldman Sachs Industrials and Materials Conference December 5, 2024 8:00 AM ET Company Participants Vimal Kapur - Chairman and Chief Executive Officer Conference Call Participants Joe Ritchie - Goldman Sachs Joe Ritchie Alright. Good morning, everybody and welcome to day two of the Industrials and Materials Conference.