Honeywell's 3Q Shows that the Portfolio Is Primed for Growth; Shares Look Fairly Valued
We are maintaining our fair value estimate of $140 per share for wide-moat Honeywell following strong third-quarter results that revealed top- and bottom-line expansion across the portfolio. Sales increased 3% year over year to $10.1 billion in the quarter, as divestitures crimped otherwise solid organic revenue growth of 5%. Honeywell’s Performance Materials and Technologies, or PMT, segment far outpaced the group, reporting a 10% organic increase in sales as licensing, equipment, catalyst, and...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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