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Honeywell (HON) Unveils Maintenance Facility in Phoenix
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Honeywell International Inc. (HON - Free Report) announced the opening of its maintenance center for the advanced T55 helicopter engine, following the clearance from the U.S. Army. Notably, the company’s share price increased 0.8% yesterday, eventually closing the trading session at $153.08.
Inside the Headlines
Located near Honeywell Aerospace’s headquarters in Phoenix, AZ, the company’s T55 Repair and Overhaul Center of Excellence facility will align the production of the engine with its repair and overhaul activities. As noted, this will enable Honeywell to enhance the operating efficiency of the repair and overhaul team by bringing experts under one platform. Notably, the collaboration of the company’s technicians with its engineering team will facilitate improving troubleshooting activities along with product updates. In addition, it started a supplier improvement initiative to better serve its customers.
It is worth mentioning here that in the previous month, the U.S. Army selected Honeywell to exhibit and fly its modernized T55 engine on the Chinook helicopter. Notably, the upgraded version of the engine comes with modifications that will allow its operators to maintain lower maintenance costs, while improving its performance and serviceability. Categorized as a 6,000-horsepower engine, the new variant will be 25% more powerful and use 10% less fuel compared with the existing T55 engine.
Strength across Honeywell’s defense and space businesses, supported by healthy demand for guidance and navigation systems, and a strong backlog will be beneficial in the quarters ahead. Also, growth in demand for warehouse automation products and supply-chain analytics will likely support its Intelligrated business. However, headwinds across its commercial original equipment business due to the ongoing 737 MAX-related issues and a lower business jet demand will likely affect its top-line performance.
In the past three months, the company’s share price has increased 12.8% compared with the industry’s growth of 13.8%.
The Zacks Consensus Estimate for its earnings is pegged at $6.92 for 2020, marking a decline of 0.1% from the 60-day-ago figure. However, the consensus estimate for 2021 earnings is pegged at $7.69, reflecting an increase of 0.4% from the number mentioned 60 days ago.
Three companies that competes with Honeywell are General Electric Company (GE - Free Report) , 3M Company (MMM - Free Report) and Emerson Electric Co. (EMR - Free Report) .
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Honeywell (HON) Unveils Maintenance Facility in Phoenix
Honeywell International Inc. (HON - Free Report) announced the opening of its maintenance center for the advanced T55 helicopter engine, following the clearance from the U.S. Army. Notably, the company’s share price increased 0.8% yesterday, eventually closing the trading session at $153.08.
Inside the Headlines
Located near Honeywell Aerospace’s headquarters in Phoenix, AZ, the company’s T55 Repair and Overhaul Center of Excellence facility will align the production of the engine with its repair and overhaul activities. As noted, this will enable Honeywell to enhance the operating efficiency of the repair and overhaul team by bringing experts under one platform. Notably, the collaboration of the company’s technicians with its engineering team will facilitate improving troubleshooting activities along with product updates. In addition, it started a supplier improvement initiative to better serve its customers.
It is worth mentioning here that in the previous month, the U.S. Army selected Honeywell to exhibit and fly its modernized T55 engine on the Chinook helicopter. Notably, the upgraded version of the engine comes with modifications that will allow its operators to maintain lower maintenance costs, while improving its performance and serviceability. Categorized as a 6,000-horsepower engine, the new variant will be 25% more powerful and use 10% less fuel compared with the existing T55 engine.
Zacks Rank, Price Performance and Estimate Trend
The company, with a $107.4-billion market capitalization, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Strength across Honeywell’s defense and space businesses, supported by healthy demand for guidance and navigation systems, and a strong backlog will be beneficial in the quarters ahead. Also, growth in demand for warehouse automation products and supply-chain analytics will likely support its Intelligrated business. However, headwinds across its commercial original equipment business due to the ongoing 737 MAX-related issues and a lower business jet demand will likely affect its top-line performance.
In the past three months, the company’s share price has increased 12.8% compared with the industry’s growth of 13.8%.
The Zacks Consensus Estimate for its earnings is pegged at $6.92 for 2020, marking a decline of 0.1% from the 60-day-ago figure. However, the consensus estimate for 2021 earnings is pegged at $7.69, reflecting an increase of 0.4% from the number mentioned 60 days ago.
Three companies that competes with Honeywell are General Electric Company (GE - Free Report) , 3M Company (MMM - Free Report) and Emerson Electric Co. (EMR - Free Report) .
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>