EU and US could reach trade deal this weekend - Reuters
On Thursday, Jefferies analysts adjusted their outlook on Honeywell International (NASDAQ: NASDAQ:HON) stock by raising the price target to $235 from the previous $215, while maintaining a Hold rating. With the stock currently trading at $227.09 and a market capitalization of $146.19 billion, Honeywell has attracted attention from analysts, with 13 recently revising their earnings estimates upward according to InvestingPro data. The update reflects Honeywell’s strategic focus on adapting existing technology to meet unmet customer needs.
Jefferies highlighted Honeywell’s recent success with its inceptor technology, originally developed for the Orion spacecraft. This technology is now being utilized by Vertical Aerospace on its VX4 vehicle, showcasing Honeywell’s mission to create new technologies or adapt existing ones to meet customer requirements.
Honeywell is exploring opportunities to redefine its product offerings by integrating them in ways that reduce costs and simplify operations. This approach aims to enhance the efficiency of vehicle certification and operation. The company is committed to merging traditional product silos in innovative ways.
The company is also actively monitoring public feedback to assess the performance of its technologies and identify areas for improvement. This feedback is crucial for preparing Honeywell for the commercial use of various electric vertical takeoff and landing (eVTOL) aircraft.
Honeywell’s efforts to adapt and innovate are seen as a strategic move to position itself favorably in the evolving aerospace market.
In other recent news, Honeywell has finalized the sale of its Personal Protective Equipment division to Protective Industrial Products, Inc. for $1.325 billion in cash. This divestiture is part of Honeywell’s strategy to streamline its portfolio and concentrate on core businesses. Additionally, Honeywell announced the appointment of Marc Steinberg from Elliott Investment Management to its board as the company prepares to split into three independent entities. This move is accompanied by a cooperation pact between Honeywell and Elliott, ensuring confidentiality and related protections. In shareholder developments, all nominated directors were elected, and executive compensation was approved at Honeywell’s recent annual meeting. The shareholders also supported the appointment of Deloitte & Touche LLP as independent accountants for 2025. Meanwhile, Oppenheimer has maintained a Perform rating on Honeywell, noting the company’s efforts to optimize its business model. Honeywell’s strategy includes a focus on Aerospace, mergers and acquisitions, and building automation momentum.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.