With Organic Sales Accelerating and Spin-Offs on the Horizon, Honeywell Prepares for an Active 2018
We’re reiterating our $140 fair value estimate for wide-moat Honeywell following the firm’s 2018 outlook call, which highlighted progress in one of new CEO Darius Adamczyk’s top priorities: organic revenue growth. Honeywell expects sales momentum to continue through 2018, targeting 2% to 4% in organic revenue growth relative to anemic five- and 10-year historical CAGRs of less than 2%. In particular, management anticipates that organic sales in the Performance Materials and Technology, or PMT, a...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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