Morningstar Rating

Stock Research and Analysis

by Keith Schoonmaker, CFA

Bulls Say

Honeywell continues to find accretive acquisitions to enhance the portfolio while disposing of low-margin, low-growth businesses, boosting organic growth and overall profitability.
The aviation business has announced recent wins, which include supplying major mechanical systems for the Airbus A350.
Honeywell's leading market position in aerospace control and safety systems should allow the company to benefit from a long-term trend in strong demand from the commercial aircraft industry. Read more 

Bears Say

Whenever significant capital flows into the company through divestiture or special one-time items, Honeywell prefers to retain the windfall for internal restructuring rather than simply returning it to shareholders.
The runway for operating margin growth may be running out as the Honeywell Operating System rollout comes to a close. Read more 

Management

CEO Dave Cote took over in 2002 and reinvigorated Honeywell's culture. He has implemented measures to more closely tie employee appraisals and incentive awards to productivity contributions. Before joining Honeywell, Cote was CEO of TRW; before that,  Read more 

Profile

Honeywell International is a diversified manufacturer that operates four major business segments: aerospace; automation products for process controls, sensing instruments,  Read more 

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