Honeywell has agreed to buy aerospace and defense technology company CAES Systems for roughly $2 billion from private equity firm Advent International, The Wall Street Journal reported on Thursday.
Honeywell International has struck a roughly $2 billion deal to buy aerospace and defense technology company CAES Systems from private-equity firm Advent International, according to people familiar with the matter.
The latest trading day saw Honeywell International Inc. (HON) settling at $212.87, representing a +0.43% change from its previous close.
Honeywell (HON) benefits from strength in its Aerospace unit, acquisitions and shareholder-friendly policies. Softness in the warehouse and workflow solutions unit is concerning.
The latest trading day saw Honeywell International Inc. (HON) settling at $208.50, representing a -0.47% change from its previous close.
I believe in a strong commercial aerospace industry, supported by Airbus' projection of 41k new passenger aircraft demand through 2024. Post-pandemic recovery has led to an acceleration in global traffic, particularly in long-haul flights, contributing to a better-than-expected demand environment. HON is in a good spot to generate elevated long-term growth, benefitting from commercial aerospace and other megatrends.
In the most recent trading session, Honeywell International Inc. (HON) closed at $208.45, indicating a -0.39% shift from the previous trading day.
Honeywell (NYSE: HON) stock has seen a rise of 5% in a week, faring better than its peer — General Electric stock – down 3%. The rise in HON stock in recent days can partly be attributed to the company's revision of its outlook for the full-year 2024 following its acquisition of Carrier's Global Access Solutions business.
Honeywell's (HON) acquisition of Global Access Solutions business is likely to enable it to expand its security products portfolio and boost its building automation segment.
Honeywell International Inc. (NASDAQ:HON ) Jefferies 2nd Annual eVTOL / AAM Summit Conference May 30, 2024 1:50 PM ET Company Participants Dave Shilliday - VP and GM, UAM/UAS, Honeywell Aerospace Technologies Conference Call Participants Sheila Kahyaoglu - Jefferies Sheila Kahyaoglu Good afternoon, everyone. My name is Sheila Kahyaoglu the Jefferies Aerospace Defense and Airlines Equity Research team.
Honeywell is well-positioned for growth in the near and long term, with a healthy backlog and strong demand in the Aerospace business. Improving supply chain conditions and a recovery in short-cycle business should also aid growth. Honeywell's margin expansion prospects are positive, with operating leverage and productivity initiatives expected to improve margins.
Innovative Solutions and Support, Inc. is a systems integrator of flight navigation systems and precision flight instrumentation equipment. The company has exposure to commercial and defense platforms, as well as general aviation and military platforms. The acquisition of product lines from Honeywell Aerospace has bolstered future growth, but integration challenges have led to margin erosion.