Honeywell Intl Inc - HON STOCK NEWS

Honeywell (NASDAQ: HON) has completed its acquisition of CAES Systems Holdings for $1.9 billion in an all-cash transaction. This acquisition enhances Honeywell's defense and space portfolio with high-reliability radio frequency technologies, presenting significant opportunities for international growth. Key points:

• Expands Honeywell's defense technology solutions across land, sea, air, and space
• Adds 2,200 skilled employees and highly automated facilities
• Enables increased production and upgraded positions on critical platforms like F-35, EA-18G, AMRAAM, and GMLRS
• Allows introduction of existing offerings on new platforms such as Navy Radar (SPY-6) and UAS/C-UAS technologies

This marks Honeywell's fourth transaction in 2024, aligning with its focus on high-return acquisitions driving future growth across its portfolio.

Honeywell (NASDAQ: HON) has announced its participation in several upcoming investor conferences in September 2024. Key executives will represent the company at various events:

• Jim Currier, President and CEO of Honeywell Aerospace, will present at the Jefferies Industrials Conference in New York City on September 5.

• Greg Lewis, SVP and CFO, will attend the Vertical Research Partners Global Industrials Conference in Connecticut on September 6 and the J.P. Morgan U.S. All Stars Conference in London on September 17.

• Vimal Kapur, CEO of Honeywell, will present at the Morgan Stanley Laguna Conference in California on September 11.

Real-time audio webcasts and related materials will be available on Honeywell's investor website, with replays accessible for 30 days after the presentations.

Honeywell (NASDAQ: HON) has announced a collaboration with Cisco to develop an AI-powered solution that automatically adapts building systems based on real-time occupancy data, aiming to reduce energy consumption and optimize the environment for worker productivity and comfort. The solution combines Honeywell Forge Sustainability+ for Buildings with Cisco Spaces to monitor assets and adjust HVAC systems using AI and machine learning.

This collaboration leverages existing network infrastructure and IoT devices to collect occupancy and environmental data, which is then used to improve energy efficiency and provide insights on building utilization. The system can autonomously adjust room temperatures, lighting, and ventilation based on occupancy and customer-selected controls, helping to automate daily building operations and monitor GHG emissions.

Honeywell (NASDAQ: HON) has launched INNCOM Direct, an energy management system designed for mid-market hotels. This cloud-based solution uses automation to improve energy efficiency, particularly in managing HVAC systems during periods of room vacancy. The system can autonomously adjust temperatures in empty spaces without affecting guest comfort, potentially addressing the 30% vacancy rate in U.S. hotel rooms.

INNCOM Direct extends Honeywell's previously high-end hotel technology to the mid-market segment, offering quick setup and portfolio analytics accessible via mobile devices or dashboards. The launch aligns with Honeywell's focus on automation and energy transition megatrends, providing an affordable option for hotels to reduce their carbon footprint and operational costs.

Honeywell (NASDAQ: HON) has announced a quarterly dividend payment of $1.08 per share on its common stock. The dividend will be payable on September 6, 2024, to shareholders of record as of August 16, 2024. Honeywell, an integrated operating company, serves various industries globally and aligns its business with three megatrends: automation, future of aviation, and energy transition. The company's operations are supported by the Honeywell Accelerator operating system and Honeywell Forge IoT platform. Honeywell's business segments include Aerospace Technologies, Industrial Automation, Building Automation, and Energy and Sustainability Solutions, focusing on providing innovative solutions for a smarter, safer, and more sustainable world.

Honeywell (NASDAQ: HON) reported strong Q2 2024 results, beating earnings guidance and updating its 2024 outlook. Key highlights include:

- Sales of $9.6 billion, up 5% reported and 4% organic
- Earnings per share of $2.36, adjusted EPS of $2.49 (up 8% YoY)
- Orders up 4%, led by building automation and energy solutions
- Deployed $6.4 billion in capital, including $5 billion Access Solutions acquisition
- Updated full-year guidance: Sales $39.1-39.7 billion, organic growth 5-6%, adjusted EPS $10.05-10.25

Strong performance was driven by Aerospace Technologies, with 16% organic growth. The company is aligning with megatrends in automation, aviation, and energy transition.

Honeywell's Industrial AI Insights global research study reveals that AI adoption in the industrial sector is just beginning, with only 17% of AI decision-makers having fully implemented their initial plans. However, 94% of those surveyed plan to expand their AI utilization, indicating strong enthusiasm for the technology. The study highlights key benefits of AI in industrials, including:

- Efficiency and productivity gains (64%)
- Improved cybersecurity and threat detection (60%)
- Better decision-making through real-time data (59%)
- Increased work flexibility (49%)
- Greater job satisfaction (45%)

AI is seen as a solution to address the industrial skills shortage by enabling faster upskilling and reskilling of workers. Despite challenges such as C-Suite understanding and resource justification, the pace of AI adoption is expected to increase as new solutions demonstrate clear benefits to workforce productivity, safety, and reliability.

Honeywell (NASDAQ: HON) has been chosen by United Airlines to supply a comprehensive range of avionics for their new 737 MAX aircraft. This selection includes advanced technologies such as the industry's only 3D weather radar, new 25-hour flight data recorders, and sophisticated safety systems. The agreement expands on a previous 2018 deal, highlighting Honeywell's reliability in delivering top-tier aerospace technology.

Key technologies selected include the IntuVue RDR-4000 3D Weather Radar System, Honeywell Connected Recorder – 25, TPA100B Traffic Alert and Collision Avoidance System, Integrated Multi-Mode Receiver, and the ALA-52B radar altimeter. These systems aim to reduce pilot workload, enhance situational awareness, and support dispatch reliability for United's growing 737 MAX fleet.

Honeywell (Nasdaq: HON) has announced an all-cash acquisition of Air Products' (NYSE: APD) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion. The acquisition is projected to immediately enhance Honeywell's sales growth and segment margin, and be accretive to adjusted EPS in the first full year.

This strategic move aims to expand Honeywell's energy transition solutions, providing a comprehensive offering that includes natural gas pre-treatment and state-of-the-art liquefaction under the Honeywell Forge and Experion platforms. Meanwhile, Air Products will continue focusing on its core industrial gas business and clean hydrogen technology.

The deal will bring approximately 475 employees from Air Products to Honeywell, and includes a 390,000-square-foot manufacturing facility in Florida. Expected to close by the end of the year, the transaction aligns with Honeywell's strategy of high-return acquisitions in automation, aviation, and energy transition.