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Honeywell (HON) Advanced Catalyst to Boost In-Cabin Air Quality

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Honeywell International Inc. (HON - Free Report) recently introduced a new catalyst for aircraft cabin air systems. The company’s new fourth-generation Combined Hydrocarbon Ozone Catalyst (CHOC4) improves in-cabin air quality, thus ensuring comfortable and safe travel experience for passengers.

Honeywell’s shares moved up 1.1% to eventually close at $206.20 yesterday.

Inside the Headlines

As noted, Honeywell’s advanced CHOC4 technology is capable of removing more than 90% of volatile organic compounds from bleed air that is responsible for causing unpleasant odors in aircraft cabin. The company noted that the solution is up to three times more effective in reducing odor compared to other solutions. The CHOC4 solution, which is used in the ozone converter, is also capable of operating at lower temperatures.

Honeywell’s catalyst CHOC4 will enable airline operators to reduce the incidents of delays, repairs and unscheduled maintenance of flights, thus helping them to generate significant cost savings. Notably, the solution is currently available for Airbus A320 aircraft and is expected to be offered for other platforms early next year.

Zacks Rank, Price Performance and Estimate Trend

Honeywell, with a $144.7 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is poised to benefit from strength across its defense and space businesses. Also, solid demand for warehouse automation products and high backlog level bode well for its Intelligrated business. However, headwinds across its commercial original equipment business owing to lower air transport, slowdown in original equipment build rates and lower business jet demand are likely to affect its performance in the near term.

In the past six months, the company’s share price has increased 35.8% compared with the industry’s growth of 27.6%.

The Zacks Consensus Estimate for Honeywell’s earnings is pegged at $7.03 for 2020, up 2.2% from the 30-day-ago figure. The consensus estimate for 2021 earnings is pegged at $7.84, up 1.6% over the same time frame.

Stocks to Consider

Some better-ranked stocks from the same space are Danaher Corporation (DHR - Free Report) , ITT Inc. (ITT - Free Report) and 3M Company (MMM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Danaher delivered a positive earnings surprise of 17.00%, on average, in the trailing four quarters.

ITT delivered a positive earnings surprise of 22.39%, on average, in the trailing four quarters.

3M delivered a positive earnings surprise of 1.85%, on average, in the trailing four quarters.

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