Honeywell: Strong 1Q Results Reflect Accelerating Organic Growth and Margin Expansion; Raising FVE
We plan to raise our $150 per share fair value estimate for Honeywell by 2%-3% to reflect strong first-quarter results above the high end of management guidance and our modestly higher long-term assumptions for full-year revenue growth and profitability, the main source of the increase. Honeywell reported first-quarter revenue of $10.4 billion, reflecting 5% year-over-year organic revenue growth, better than management’s 2%-4% guidance on strength in Aerospace and Safety & Productivity Solut...Honeywell International is a technology and manufacturing company. The company has four segments: Aerospace, which supplies products, software and services for aircrafts; Honeywell Building Technologies, which provides products, software, solutions and technologies including building control and optimization, energy management, access control, video surveillance, fire products, and remote patient monitoring systems; Performance Materials and Technologies, which develops and manufactures chemicals and materials, process technologies and automation solutions; and Safety and Productivity Solutions, which provides products and software that improve productivity, workplace safety and asset performance.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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