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On Jan 4, we issued an updated research report on Honeywell International Inc. (HON - Free Report) .
In the past three months, this Zacks Rank #3 (Hold) stock has returned 26.6% compared with the industry’s growth of 19.2%.
Existing Scenario
Honeywell has been witnessing strength across its defense and space businesses, supported by strong U.S. government defense budgets. Also, recovery in business aviation aftermarket, robust demand for personal protective equipment, and growth opportunities across building solutions and safety products businesses are likely to drive the company’s performance in the days ahead.
Further, the company’s Ballard Unmanned Systems buyout (October 2020) is expected to strengthen its prospects in the unmanned aerial systems market. Moreover, the buyout of Rocky Research in the same month is likely to have bolstered prospects for its existing offerings in the energy storage, power and thermal management, and power generation arenas. In addition, Honeywell’s agreement to acquire Sparta Systems (December 2020), will help in strengthening its position in digital transformation, industrial automation and enterprise performance management solutions space (read more: Honeywell to Buy Sparta, Expand Life Science Offerings).
However, the company has been experiencing headwinds across its commercial original equipment business on account of lower air transport, slowdown in original equipment build rates and lower business jet demand. Also, softness in its UOP business and automation project delays in process solutions business are likely to affect the company’s top-line performance in the near term.
Moreover, the company’s high-debt profile remains a concern. Exiting third-quarter 2020, its long-term debt stood at $17,687 million, reflecting an increase of 0.5% on a sequential basis. Further, rise in debt levels can raise the company’s financial obligations.
Danaher has a trailing four-quarter earnings surprise of 17.00%, on average.
Raven has a trailing four-quarter earnings surprise of 126.84%, on average.
Applied Industrial has a trailing four-quarter earnings surprise of 14.68%, on average.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Honeywell (HON) Displays Bright Prospects, Risks Persist
On Jan 4, we issued an updated research report on Honeywell International Inc. (HON - Free Report) .
In the past three months, this Zacks Rank #3 (Hold) stock has returned 26.6% compared with the industry’s growth of 19.2%.
Existing Scenario
Honeywell has been witnessing strength across its defense and space businesses, supported by strong U.S. government defense budgets. Also, recovery in business aviation aftermarket, robust demand for personal protective equipment, and growth opportunities across building solutions and safety products businesses are likely to drive the company’s performance in the days ahead.
Further, the company’s Ballard Unmanned Systems buyout (October 2020) is expected to strengthen its prospects in the unmanned aerial systems market. Moreover, the buyout of Rocky Research in the same month is likely to have bolstered prospects for its existing offerings in the energy storage, power and thermal management, and power generation arenas. In addition, Honeywell’s agreement to acquire Sparta Systems (December 2020), will help in strengthening its position in digital transformation, industrial automation and enterprise performance management solutions space (read more: Honeywell to Buy Sparta, Expand Life Science Offerings).
However, the company has been experiencing headwinds across its commercial original equipment business on account of lower air transport, slowdown in original equipment build rates and lower business jet demand. Also, softness in its UOP business and automation project delays in process solutions business are likely to affect the company’s top-line performance in the near term.
Moreover, the company’s high-debt profile remains a concern. Exiting third-quarter 2020, its long-term debt stood at $17,687 million, reflecting an increase of 0.5% on a sequential basis. Further, rise in debt levels can raise the company’s financial obligations.
Stocks to Consider
Some better-ranked stocks are Danaher Corporation (DHR - Free Report) , Raven Industries, Inc. 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 has a trailing four-quarter earnings surprise of 17.00%, on average.
Raven has a trailing four-quarter earnings surprise of 126.84%, on average.
Applied Industrial has a trailing four-quarter earnings surprise of 14.68%, on average.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>