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) to Acquire HUD Assets of Saab Technology
Read MoreHide Full Article
Honeywell International Inc. (HON - Free Report) has entered into a definitive agreement to acquire heads-up-display (HUD) assets of Swedish aerospace and defense company Saab Technology. The financial terms of the transaction are kept under wraps.
The HUD system reduces the workload for pilots, helps them with increased situational awareness and increases flight safety. Per the deal, the companies will collaborate to advance and strengthen HON’s HUD product portfolio. The acquisition will expand Honeywell’s avionics and safety offerings
The addition of HUD will also enable Honeywell to offer a balanced cockpit environment to its customers. The HUDs technology will be integrated into Honeywell Anthem, which is HON's first cloud-connected cockpit system that can be customized for virtually every type of aircraft. It will also be available for aircraft equipped with Primus Epic flight decks, as well as for standalone retrofits. The acquisition of HUD assets is subject to regulatory approvals and customary closing conditions.
Honeywell has been strengthening its business through acquisitions. In April, the company entered into an agreement to acquire Compressor Controls Corporation from INDICOR, LLC. The acquisition will fortify HON’s expertise in industrial control, automation and process solutions, while simultaneously bolstering its sustainability portfolio with new carbon capture control solutions. The acquired entity will be integrated into HON’s Process Solutions business. The deal is expected to close in the second half of 2023.
The Zacks Consensus Estimate for Honeywell’s 2023 earnings per share is currently pegged at $9.16, suggesting a 4.6% increase from the year-ago reported figure. The same for 2024 stands at $10.03, indicating growth of 14.5% from the prior-year reported number.
Price Performance
Shares of HON have decreased 5.5%, compared with the industry’s 4% decline in the year-to-date period.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
HON currently carries Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
GFF delivered a trailing four-quarter earnings surprise of 12.5%, on average. In the past 60 days, Griffon’s earnings estimates have increased 12.5% for fiscal 2023. The stock has surged 11.9% in the year-to-date period.
Ingersoll Rand Inc. (IR - Free Report) presently sports a Zacks Rank of 1. IR delivered a trailing four-quarter earnings surprise of 12.6%, on average.
In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 6.7%. The stock has improved 21.8% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has increased 28.4% in the year-to-date period.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Honeywell (HON) to Acquire HUD Assets of Saab Technology
Honeywell International Inc. (HON - Free Report) has entered into a definitive agreement to acquire heads-up-display (HUD) assets of Swedish aerospace and defense company Saab Technology. The financial terms of the transaction are kept under wraps.
The HUD system reduces the workload for pilots, helps them with increased situational awareness and increases flight safety. Per the deal, the companies will collaborate to advance and strengthen HON’s HUD product portfolio. The acquisition will expand Honeywell’s avionics and safety offerings
The addition of HUD will also enable Honeywell to offer a balanced cockpit environment to its customers. The HUDs technology will be integrated into Honeywell Anthem, which is HON's first cloud-connected cockpit system that can be customized for virtually every type of aircraft. It will also be available for aircraft equipped with Primus Epic flight decks, as well as for standalone retrofits. The acquisition of HUD assets is subject to regulatory approvals and customary closing conditions.
Honeywell has been strengthening its business through acquisitions. In April, the company entered into an agreement to acquire Compressor Controls Corporation from INDICOR, LLC. The acquisition will fortify HON’s expertise in industrial control, automation and process solutions, while simultaneously bolstering its sustainability portfolio with new carbon capture control solutions. The acquired entity will be integrated into HON’s Process Solutions business. The deal is expected to close in the second half of 2023.
The Zacks Consensus Estimate for Honeywell’s 2023 earnings per share is currently pegged at $9.16, suggesting a 4.6% increase from the year-ago reported figure. The same for 2024 stands at $10.03, indicating growth of 14.5% from the prior-year reported number.
Price Performance
Shares of HON have decreased 5.5%, compared with the industry’s 4% decline in the year-to-date period.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
HON currently carries Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Griffon Corporation (GFF - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks.
GFF delivered a trailing four-quarter earnings surprise of 12.5%, on average. In the past 60 days, Griffon’s earnings estimates have increased 12.5% for fiscal 2023. The stock has surged 11.9% in the year-to-date period.
Ingersoll Rand Inc. (IR - Free Report) presently sports a Zacks Rank of 1. IR delivered a trailing four-quarter earnings surprise of 12.6%, on average.
In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 6.7%. The stock has improved 21.8% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has increased 28.4% in the year-to-date period.