Beeline Holdings sells $1.2 million in stock, totals $14.5 million since March
CHARLOTTE, N.C. - Honeywell (NASDAQ: HON), a prominent industrial conglomerate with a market capitalization of $144 billion and a "GOOD" financial health rating according to InvestingPro, has successfully completed the divestiture of its Personal Protective Equipment (PPE) division, selling it to Protective Industrial Products, Inc. (PIP) for $1.325 billion in cash. This strategic move, announced today, is part of Honeywell’s ongoing efforts to streamline its portfolio and focus on its core businesses.
The transaction enables Honeywell to exit the PPE industry, a process that began with the 2021 sale of its Lifestyle and Performance Footwear Business to Rocky Brands. The sale to PIP, a global PPE supplier and manufacturer and a portfolio company of Odyssey Investment Partners, is viewed as beneficial for both Honeywell and the PPE business’s future growth.
Vimal Kapur, Chairman and CEO of Honeywell, remarked on the significance of the divestiture, stating, "Completing the divestiture of our PPE business is another critical step in simplifying and optimizing our portfolio for growth in our core businesses." Kapur also noted that the alignment with PIP’s core business would bolster the PPE business’s future opportunities.
This sale follows Honeywell’s recent announcements regarding the planned separation of its Aerospace Technologies and the spin-off of its Advanced Materials business, aiming to create three independent, publicly traded industry leaders. With revenue growth of 6.27% in the last twelve months and a 41-year track record of consistent dividend payments, Honeywell has been active in reshaping its business portfolio, with $13.5 billion in acquisitions since December 2023, including businesses from Carrier Global, Civitanavi Systems, CAES Systems, Air Products, and the pending acquisitions of Sundyne and Johnson Matthey’s Catalyst Technologies Business.
Honeywell, a diversified technology and manufacturing leader, is aligning its operations with key global megatrends such as automation, the future of aviation, and energy transition. The company’s focus is on providing innovative solutions across its business segments, including Aerospace Technologies, Industrial Automation, Building Automation, and Energy and Sustainability Solutions.
The completion of this sale is a continuation of Honeywell’s strategic actions to drive organic growth and simplify its portfolio. Based on InvestingPro analysis, 13 analysts have recently revised their earnings upwards for the upcoming period, suggesting positive momentum for the company’s transformation strategy. This information is based on a press release statement and reflects the company’s current direction and management’s expectations for the future, which are subject to change. For comprehensive analysis of Honeywell and access to additional ProTips, detailed financial metrics, and expert insights, explore the full Pro Research Report available on InvestingPro.
In other recent news, Honeywell International reported its first-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $2.51, which surpassed the forecast of $2.21. The company’s revenue reached $9.82 billion, slightly above the expected $9.6 billion, driven by strong performance in aerospace and building automation. Honeywell also announced plans for a strategic separation into three public entities, aiming to enhance operational focus and shareholder value. In addition, Honeywell is nearing a £1.8 billion ($2.56 billion) all-cash deal to acquire Johnson Matthey’s catalyst technologies unit, which will be integrated into its automation division. Analyst firms UBS and JPMorgan have weighed in on Honeywell’s stock, with UBS maintaining a Buy rating and a $268 price target, citing the company’s promising trajectory and robust demand in its Aerospace and Building Automation segments. JPMorgan, on the other hand, raised its price target from $178 to $182 while keeping a Neutral rating, acknowledging Honeywell’s solid financial performance but expressing caution over valuation concerns. These developments reflect Honeywell’s strategic efforts to navigate market challenges and capitalize on growth opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.