Honeywell International Inc. (HON - Free Report) recently teamed up with Vertiv Holdings Co. (VRT - Free Report) to develop integrated solutions for improving sustainability and operational performance of data centers. The solutions are anticipated to be rolled out this year.
Honeywell’s shares were up 1.1% yesterday to eventually close at $173.47.
Inside the Headlines
The collaboration will leverage Honeywell's expertise in advanced building management systems, safety & security products and operational software. It will also be supported by Vertiv's capability in uninterruptible power supply, thermal management, power distribution, infrastructure monitoring and modular solutions. The partnership will involve both the companies to focus on developing solutions that will facilitate operators of large enterprise, hyperscale, and edge data centers in integrating several domains of data in a data center. The companies will use building-operations data for driving operational performance across data center apart from lowering energy usage and costs.
The collaboration will create an intelligent power management solution. Incorporating analytics, energy storage, forecasting and economic optimization features, the solution will facilitate operation of a data center load. It will lower energy costs with the help of autonomous selection of energy sources and grid services.
Notably, the intelligent power management solution will empower data center operators with remote monitoring and maintenance option, apart from helping them to reduce costs, avoiding downtime and boosting power usage effectiveness.
Zacks Rank, Price Performance and Estimate Trend
Honeywell, with a $121.7 billion market capitalization, currently carries a Zacks Rank #4 (Sell). Headwinds across the company’s commercial original equipment business on account of lower air transport, slowdown in original equipment build rates and fall in business jet demand might affect its top-line performance. Also, reduced global air transport flight hours, on account of the coronavirus outbreak-led issues, might hurt its commercial aftermarket business.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past three months, the company’s share price has increased 13.3% compared with the industry’s growth of 9.7%.
The Zacks Consensus Estimate for Honeywell’s earnings is pegged at $6.88 for 2020, down 0.3% from the 30-day-ago figure. The consensus estimate for 2021 earnings is pegged at $7.71, up 0.1% over the same time frame.
A couple of companies that are in competition with Honeywell are General Electric Company (GE - Free Report) and 3M Company (MMM - Free Report) .
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