We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Honeywell (HON) Buys Sine Group, Strengthens Product Offerings
Read MoreHide Full Article
Honeywell International Inc. (HON - Free Report) recently announced that it has completed the acquisition of Sine Group. However, the financial terms of the transaction were kept under wraps.
Notably, Honeywell’s shares declined 1.3% yesterday to eventually close the trading session at $211.85.
Based in Adelaide, Australia, Sine Group is a software as a service (SaaS) company engaged in offering visitor management, supply chain and workplace solutions, which are easily compatible with mobile devices. The company’s SaaS solution boasts user-friendly features and provides its customers with added capabilities that enhances security, safety, and compliance across their operational sites. The company’s solutions are used across several industries like industrial, commercial real estate, education, pharma, logistics and construction, among others.
Benefits of the Deal
Sine Group’s expertise in SaaS-based solutions coupled with its strong innovation capabilities will enable Honeywell to add a cloud-based mobile platform for its enterprise performance management solution offering — Honeywell Forge.
Also, Sine Group’s advanced software will allow Honeywell in offering its Connected Buildings solutions with added security and safety features to its customers. In fact, the acquisition is likely to expand Honeywell’s customer base for its enterprise performance management solutions, along with improving the company’s ability to facilitate organizations in operating more effectively and securely.
Other Inorganic Moves
The latest transaction is in sync with Honeywell’s policy of acquiring businesses for expanding its market share, product offerings and customer base. In October 2020, the company acquired Ballard Unmanned Systems, which will enhance its prospects in the unmanned aerial systems market. Also, its acquisition of Rocky Research in the same month will enhance growth opportunities for its existing offerings in the energy storage, power and thermal management, and power generation arenas.
Zacks Rank, Price Performance and Estimate Revisions
Honeywell, with approximately $148.7 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company will benefit from strength across its defense and space businesses, strong demand for warehouse automation products and high backlog level. However, headwinds across its commercial original equipment business are likely to affect its performance in the near term.
In the past three months, the company’s share price has increased 25.2% compared with the industry’s growth of 20.2%.
The Zacks Consensus Estimate for Honeywell’s earnings is pegged at $7.03 for 2020, up 2.2% from the 60-day-ago figure. The consensus estimate for 2021 earnings is pegged at $7.84, up 1.8% over the same time frame.
Danaher delivered a positive earnings surprise of 17.00%, on average, in the trailing four quarters.
Crane delivered a positive earnings surprise of 14.59%, on average, in the trailing four quarters.
Applied Industrial delivered a positive earnings surprise of 14.68%, on average, in the trailing four quarters.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Image: Bigstock
Honeywell (HON) Buys Sine Group, Strengthens Product Offerings
Honeywell International Inc. (HON - Free Report) recently announced that it has completed the acquisition of Sine Group. However, the financial terms of the transaction were kept under wraps.
Notably, Honeywell’s shares declined 1.3% yesterday to eventually close the trading session at $211.85.
Based in Adelaide, Australia, Sine Group is a software as a service (SaaS) company engaged in offering visitor management, supply chain and workplace solutions, which are easily compatible with mobile devices. The company’s SaaS solution boasts user-friendly features and provides its customers with added capabilities that enhances security, safety, and compliance across their operational sites. The company’s solutions are used across several industries like industrial, commercial real estate, education, pharma, logistics and construction, among others.
Benefits of the Deal
Sine Group’s expertise in SaaS-based solutions coupled with its strong innovation capabilities will enable Honeywell to add a cloud-based mobile platform for its enterprise performance management solution offering — Honeywell Forge.
Also, Sine Group’s advanced software will allow Honeywell in offering its Connected Buildings solutions with added security and safety features to its customers. In fact, the acquisition is likely to expand Honeywell’s customer base for its enterprise performance management solutions, along with improving the company’s ability to facilitate organizations in operating more effectively and securely.
Other Inorganic Moves
The latest transaction is in sync with Honeywell’s policy of acquiring businesses for expanding its market share, product offerings and customer base. In October 2020, the company acquired Ballard Unmanned Systems, which will enhance its prospects in the unmanned aerial systems market. Also, its acquisition of Rocky Research in the same month will enhance growth opportunities for its existing offerings in the energy storage, power and thermal management, and power generation arenas.
Zacks Rank, Price Performance and Estimate Revisions
Honeywell, with approximately $148.7 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company will benefit from strength across its defense and space businesses, strong demand for warehouse automation products and high backlog level. However, headwinds across its commercial original equipment business are likely to affect its performance in the near term.
In the past three months, the company’s share price has increased 25.2% compared with the industry’s growth of 20.2%.
The Zacks Consensus Estimate for Honeywell’s earnings is pegged at $7.03 for 2020, up 2.2% from the 60-day-ago figure. The consensus estimate for 2021 earnings is pegged at $7.84, up 1.8% over the same time frame.
Key Picks
Some better-ranked stocks are Danaher Corporation (DHR - Free Report) , Crane Co. (CR - Free Report) and Applied Industrial Technologies, Inc. (AIT - 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.
Crane delivered a positive earnings surprise of 14.59%, on average, in the trailing four quarters.
Applied Industrial delivered a positive earnings surprise of 14.68%, on average, in the trailing four quarters.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>