Honeywell International Inc. (HON - Free Report) recently announced new offerings for its Healthy Buildings Safety & Security solution portfolio to facilitate owners and operators of buildings to conform to mask use and social distancing rules.
The company’s shares were up 0.9% yesterday to close at $165.75.
Inside the Headlines
The company’s latest offerings — Honeywell Pro-Watch and MAXPRO Network Video Recorders and Video Management Systems — leverage video analytics, enabled with advanced artificial intelligence. These latest solutions can utilize prevailing cameras for tracking incidences of non-observance of mask use and social distancing guidelines.
As noted, the integration of mask detection and social distancing metrics will be carried out into the Honeywell #HealthyBuildings Score analytics. These solutions, which boast user friendly interface, also use the Intel Distribution of OpenVINO toolkit. The advanced technologies, embedded into the solutions help in converting inputs and information into actionable insights. This will enable owners of building to significantly reduce the spread of any contagious disease, while continuing day-to-day activities.
Also, in June 2020, the company boosted its Operational Intelligence platform to help businesses track COVID-19 related health and safety measures and offer features that support contact tracing.
Zacks Rank, Price Performance and Estimate Trend
The company, with a $116.3-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 strong defense budget allocated to the U.S. Department of Defense, along with strong backlog will likely act as tailwinds in the quarters ahead. Also, strong demand for warehouse automation products and solid backlog level bode well. However, low global air transport flight hours, on account of the coronavirus outbreak-led issues, will continue to affect its commercial aftermarket business.
In the past three months, the company’s share price has increased 15.6% compared with the industry’s growth of 9.3%.
The Zacks Consensus Estimate for its earnings is pegged at $6.90 for 2020, marking a decline of 0.3% from the 30-day-ago figure. The consensus estimate for 2021 earnings is pegged at $7.70, reflecting no change over the same time frame.
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) .
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