Back to top

Image: Bigstock

Honeywell (HON) Strengthens Forge for Buildings Platform

Read MoreHide Full Article

Honeywell International Inc. (HON - Free Report) recently enhanced its Forge for Buildings platform by adding more automation, visualization and cybersecurity tools. Notably, the company launched Honeywell Forge — its industrial IoT platform — in June 2019 to help owners and operators of buildings, industrial facilities and airlines to boost operational efficiency. Honeywell Forge for Buildings is designed to avoid unplanned downtime and provide advanced predictive information to make building facilities safer and more secure. Also, it reduces operating expenses of business owners and operators, enhances consumption of energy and improves space optimization management across a building portfolio.

The recent move involves the incorporation of solutions like the next generation Enterprise Building Integration (EBI), Command and Control Suite (CCS) and Digital Video Manager (DVM) into Forge for Buildings platform. Notably, these technologies use IoT connectivity, interoperable systems and data sharing, and adaptive workflows to convert inputs and information into actionable insights. In addition, the company is launching a portfolio of enhanced cybersecurity tools to prevent attacks on data, networks and buildings.

The company’s suite of updates includes the EBI R600, DVM R700 and CCS R300.  The open IoT platform — EBI R600 — helps in managing building functions, ranging from safety and comfort to security systems. This integrates with third party systems, equipment, cloud as well as mobile applications. The DVM R700 comes up with improved digital surveillance system to efficiently use storage facilities and cut hardware costs. The CCS R300 has an advanced facility visualization interface that provides performance data to building personnel for analyzing.

The company is expanding its cybersecurity services and products with the Honeywell Forge Cybersecurity solutions. This solution includes cybersecurity assessment, software to secure and configure infrastructure, monitoring and remote management applications, among others.

Our Take

Strength in process solutions business coupled with strong demand for equipment, absorbents and refining catalysts is likely to boost revenues of the Performance Materials and Technology segment. Honeywell believes that continued solid demand for its warehouse automation, sensing and IoT businesses will aid its Safety and Productivity Solutions’ revenues. Further, strong demand for commercial fire and security products is likely to drive the Building Technologies segment.

Over the past six months, Honeywell’s shares have gained 6.3% against industry’s decline of 5.4%.

However, softness in the company’s productivity products business and high long-term debt remain causes of concern.

Zacks Rank & Key Picks

Honeywell currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the same space are Federal Signal Corporation (FSS - Free Report) , Carlisle Companies Incorporated (CSL - Free Report) and United Technologies Corporation (UTX - Free Report) . While Federal Signal sports a Zacks Rank #1 (Strong Buy), Carlisle and United Technologies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Federal Signal surpassed estimates in each of the preceding four quarters, the average positive earnings surprise being 16.48%.

Carlisle outpaced estimates thrice in the preceding four quarters, the average earnings surprise being 17.16%.

United Technologies outpaced estimates in each of the preceding four quarters, the average positive earnings surprise being 13.19%.

It’s Illegal in 42 States, But Investors Will Make Billions Legally

In addition to the companies you read about above, today you get details on the newly-legalized
industry that’s tapping into a “habit” that Americans spend an estimated $150 billion on every year.

That’s twice as much as they spend on marijuana, legally or otherwise.

Zacks special report revealing how investors can profit from this new opportunity. As more states
legalize this activity, the industry could expand by as much as 15X. Zacks’ has just released a Special
Report revealing 5 top stocks to watch in this space.

See these 5 “sin stocks” now>>

Published in