Live News • 3h
Honeywell to Separate Aerospace and Automation Units Creating Two Public Companies Honeywell plans to spin off its Aerospace division, Honeywell Aerospace (HONA), on June 29, 2026, creating two independent listed companies and rebranding the remaining business as Honeywell Technologies under the HON ticker.
Ahead of the separation, Honeywell reaffirmed its 2026 guidance, including organic revenue growth of 3% to 6%, adjusted EPS growth of 6% to 9%, and free cash flow of US$5.3b to US$5.6b. The company also announced a 1-for-2 reverse stock split on the spin-off date.
The automation-focused Honeywell Technologies is targeting 4% to 6% organic growth and margin expansion. It is also evaluating bolt-on deals in the US$2b to US$4b range within a US$35b industrial automation market, supported by a US$38b backlog and 7% order growth reported in Q1 2026.
The separation of aerospace from automation, alongside portfolio divestments and M&A plans, signals a shift toward a more focused industrial and building automation company with discrete capital allocation priorities for each business.
Investors should monitor execution risk around the spin-off, the reverse split and future acquisitions, as any missteps or weaker-than-expected performance in either post-spin entity could affect how the market values the combined story today. Announcement • Jun 09
Honeywell International Inc. Reaffirms Earnings Guidance for the Year 2026 Honeywell International Inc. announced it was reaffirming its full-year 2026 guidance ahead of the planned Honeywell Aerospace spin-off on June 29, 2026. The company also provided a preliminary 2026 outlook for the remaining company post spin, which will conduct business under the name Honeywell Technologies. Honeywell continues to expect sales of $38.8 billion to $39.8 billion. The company also provided a preliminary guidance framework for the company that will remain after the Honeywell Aerospace spin-off, which is expected to be completed on June 29, 2026. This framework excludes full-year expected results for the aerospace segment. Live News • Jun 07
Honeywell to Separate Aerospace and Automation Businesses Creating Two Public Companies Honeywell plans to spin off its Aerospace division into a separately traded company, Honeywell Aerospace (ticker: HONA), with the transaction expected to complete on June 29, 2026.
After the spin-off, the remaining company will be renamed Honeywell Technologies and keep the HON ticker, focusing on industrial and building automation, and executing a 1-for-2 reverse stock split.
Honeywell Aerospace is targeting US$6.5b in adjusted earnings by 2030, while Honeywell has secured US$20b in financing and reaffirmed full-year guidance, citing eased headwinds and better supply chain conditions.
This break-up will leave you with direct exposure to two more focused companies: one tied to automation, and the other to commercial aviation and defense.
Ahead of the June separation, the investor days on June 3 and June 8 are key events to understand capital allocation, balance sheet profiles, and how the spin-off, reverse split, and new financing could affect your eventual position sizes in both stocks. Announcement • Jun 02
Honeywell International Inc. Appoints Jill Evanko as Independent Director and Audit Committee Member, Effective June 1, 2026 Honeywell International Inc. announced that its Board of Directors had appointed Jillian (Jill) Evanko, 48, Chief Executive Officer of Duravant, LLC, to its Board of Directors as an Independent Director and Audit Committee member, effective June 1, 2026. Evanko will serve on the Honeywell Board alongside current directors Vimal Kapur, Duncan Angove, Michael Lamach, Grace Lieblein, Indra Nooyi, Marc Steinberg, Robin Watson and Stephen Williamson. Evanko had more than 25 years of experience across the industrial and manufacturing sectors. Prior to joining Duravant in January 2026, she spent nearly a decade at Chart Industries Inc., most recently as President and CEO and prior to that as Chief Financial Officer. As CEO of Chart Industries, she oversaw the company's strategic direction across capital allocation, operational excellence, transformative acquisitions and growth objectives to increase the company's market capitalization. Prior to Chart Industries, Evanko served as the Chief Financial Officer of Truck-Lite Co., LLC and held multiple operational and financial executive positions at Dover Corporation and its subsidiaries. Earlier, she held financial and operational roles at Arthur Andersen, LLP, Honeywell and Sony Corporation. Evanko currently served as an independent director of the board of Greif Inc. She previously served on the board of directors of Chart Industries, Parker Hannifin and Alliant Energy and its affiliates. She also served on the non-profit board of directors of the National Association of Manufacturers. Evanko held a master of business administration (MBA) from The University of Notre Dame and a bachelor of science in business administration from La Salle University. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Indra Nooyi was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 30
Dividend of US$1.19 announced Shareholders will receive a dividend of US$1.19. Ex-date: 15th May 2026 Payment date: 5th June 2026 Dividend yield will be 7.9%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 28
Honeywell International Inc. Announces Quarterly Dividend, Payable on June 5, 2026 Honeywell announced that its Board of Directors has declared a quarterly dividend payment of $1.19 per share on the Company's common stock. The dividend is payable on June 5, 2026, out of surplus to holders of record at the close of business on May 15, 2026. Reported Earnings • Apr 24
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: US$1.29 (down from US$2.24 in 1Q 2025). Revenue: US$9.14b (down 6.9% from 1Q 2025). Net income: US$821.0m (down 43% from 1Q 2025). Profit margin: 9.0% (down from 15% in 1Q 2025). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, while revenues in the Global Industrials industry are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Announcement • Apr 23
Honeywell International Inc. Updates Earning Guidance for the Year Ending December 31, 2026 Honeywell International Inc. updated earning guidance for the Year ending December 31, 2026. For the year, The company expects full-year sales of $38.8 billion to $39.8 billion. The company expects earnings per share of common stock from continuing operations (diluted) to be in the range of $8.88 to $9.18. Announcement • Apr 21
Brady Corporation (NYSE:BRC) signed a definitive agreement to acquire Productivity Solutions and Services of Honeywell International Inc. (NasdaqGS : HON) for $1.4 billion. Brady Corporation (NYSE:BRC) signed a definitive agreement to acquire Productivity Solutions and Services of Honeywell International Inc. (NasdaqGS : HON) for $1.4 billion on April 20, 2026. A cash consideration of $1.4 billion will be paid by Brady Corporation. Brady expects to fund the transaction with cash on hand and new debt financing.
The transaction reflects TEV/EBITDA multiple of 8x. For the period ending December 31, 2025, Productivity Solutions and Services of Honeywell International Inc reported total revenue of $1.1 billion.
The transaction has been unanimously approved by the Boards of Directors of both companies, approval by regulatory board. The expected completion of the transaction in the second half of calendar year 2026. The transaction is expected to be double-digit accretive to adjusted diluted EPS within the first year following close.
Goldman Sachs & Co. LLC acted as financial advisor for Brady Corporation. Foley & Lardner LLP acted as legal advisor for Brady Corporation. Centerview Partners LLC acted as a financial advisor to Honeywell International. Kirkland & Ellis LLP acted as a legal advisor to Honeywell International. Baker & McKenzie LLP acted as a external legal advisor to Honeywell International. Womble Bond Dickinson acted as a external advisor to Honeywell International. Announcement • Mar 28
Honeywell International Inc., Annual General Meeting, May 22, 2026 Honeywell International Inc., Annual General Meeting, May 22, 2026. Announcement • Mar 26
Honeywell International Inc. to Report Q1, 2026 Results on Apr 23, 2026 Honeywell International Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 23, 2026 Recent Insider Transactions Derivative • Feb 24
Independent Director notifies of intention to sell stock Grace Lieblein intends to sell 6k shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of February. If the sale is conducted around the recent share price of US$244, it would amount to US$1.4m. Since March 2025, Grace's direct individual holding has increased from 13.15k shares to 13.80k. Company insiders have collectively sold US$6.3m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Feb 18
Dividend of US$1.19 announced Shareholders will receive a dividend of US$1.19. Ex-date: 27th February 2026 Payment date: 13th March 2026 Dividend yield will be 7.0%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 45% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions Derivative • Feb 16
Chairman & CEO exercised options and sold US$288k worth of stock On the 10th of February, Vimal Kapur exercised options to acquire 1k shares at no cost and sold these for an average price of US$242 per share. This trade did not impact their existing holding. For the year to December 2022, Vimal's total compensation was 9% salary and 91% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Vimal's direct individual holding has increased from 34.89k shares to 37.83k. Company insiders have collectively sold US$5.1m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Feb 14
Honeywell International Inc. Announces Quarterly Dividend, Payable on March 13, 2026 Honeywell International Inc. announced that its Board of Directors has declared a quarterly dividend payment of $1.19 per share on the Company's common stock. The dividend is payable on March 13, 2026, out of surplus to holders of record at the close of business on February 27, 2026. Reported Earnings • Jan 30
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$7.57 (down from US$8.77 in FY 2024). Revenue: US$37.4b (down 2.7% from FY 2024). Net income: US$4.84b (down 15% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, while revenues in the Global Industrials industry are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 3% per year. Major Estimate Revision • Jan 22
Consensus EPS estimates increase by 27% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from US$7.05 to US$8.96. Revenue forecast steady at US$37.6b. Net income forecast to shrink 5.4% next year vs 14% growth forecast for Industrials industry in the US . Consensus price target broadly unchanged at US$236. Share price rose 3.5% to US$223 over the past week. Announcement • Jan 22
Honeywell and Flexjet Reach Comprehensive Agreement to Resolve Their Pending Litigation Honeywell and Flexjet have reached a comprehensive agreement to resolve their pending litigation and look forward to rebuilding the parties' commercial partnership. The agreement will resolve in full all pending claims among and between the parties, as well as related litigation involving StandardAero and Duncan Aviation. Simultaneously, and as partial consideration for the resolution of the litigation, Honeywell and Flexjet have agreed to extend their aircraft engine maintenance agreement through 2035. Honeywell and Flexjet look forward to working collaboratively going forward. Announcement • Jan 12
Honeywell Unveils AI-Enabled Technology to Personalize In-Store Shopping with Google Cloud Honeywell announced the launch of an AI-enabled retail solution developed in collaboration with Google Cloud and 66degrees that leverages Google's Gemini and Google Cloud's Vertex AI platform to transform the in-store shopping experience for retailers worldwide. The Smart Shopping Platform helps shoppers easily locate desired products, compare similar items and quickly find relevant substitutions when products are unavailable, making in-store shopping more efficient and enjoyable. The Smart Shopping Platform is a cloud-based solution that creates a seamless connection between a retailer's digital data and the physical store environment. Built on Honeywell's Mobility Edge hardware and software platform and enabled by Google Cloud's AI technologies, it offers personalized guidance, real-time product information and dynamic recommendations that mirror the convenience of online shopping. When using the platform on a Honeywell for Android device—such as the CS32 Personal Shopper—consumers can link their loyalty accounts to immediately unlock personalized recommendations based on buying history, stated preferences, complementary products and available discounts and promotions. The Smart Shopping Platform can also provide step-by-step navigation through the store to help customers easily locate everything they wish to buy. If a specific product is out of stock, the system uses AI to suggest relevant alternatives, mirroring the convenience of e-commerce. The solution also supports retail workers by helping them become in-house experts. Associates equipped with devices like the Honeywell CT70 can use the Smart Shopping Platform to provide quick, customized guidance and insights to shoppers, helping every employee serve as a subject matter expert. For example, an employee can quickly identify the new location of a customer's favorite dairy-free cereal in the store. Today, devices like the Honeywell CT70 are used by thousands of retail associates at major grocery chains, big box stores, specialty retailers, department stores and more. This launch is the result of the ongoing collaboration between Honeywell and Google Cloud to help advance computing across multiple industries. The Smart Shopping Platform will be available to customers beginning in February 2026. Announcement • Jan 02
Honeywell International Inc. to Report Q4, 2025 Results on Jan 29, 2026 Honeywell International Inc. announced that they will report Q4, 2025 results on Jan 29, 2026 Announcement • Dec 24
Honeywell International Inc. Provides Earnings Guidance for Three and Twelve Months Ended December 31, 2025 Honeywell International Inc. provided earnings guidance for three and twelve months ended December 31, 2025. For the three months the company expected the sales of $9.5 billion to $9.7 billion. Earnings per share of common stock from continuing operations - diluted of $1.79 to $1.89.
For the twelve months the company expected the sales of $37.2 billion to $37.4 billion. Earnings per share of common stock from continuing operations - diluted of $9.23 to $9.33. Buy Or Sell Opportunity • Dec 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to US$196. The fair value is estimated to be US$248, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 6.4%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are also forecast to grow by 5.4% per annum over the same time period. Announcement • Dec 11
Honeywell International Inc. Appoints Indra Nooyi as Independent Director, Effective January 1, 2026 On December 10, 2025, Honeywell International Inc. announced that Ms. Indra Nooyi, 70, former Chair and Chief Executive Officer of PepsiCo Inc., has been appointed, effective January 1, 2026, to serve as an Independent Director on the Company’s Board of Directors. Ms. Nooyi served as Chief Executive Officer of PepsiCo Inc. from 2006 through 2018 and Chair of its board of directors from 2007 to 2019. Prior to that, she spent five years as President and Chief Financial Officer and was a member of the PepsiCo Inc., board of directors. Ms. Nooyi currently serves on the board of directors of Amazon, where she chairs the audit committee. She also sits on the supervisory board of Philips where she is a member of the nominating and corporate governance committee. Nooyi holds a bachelor's degree from Madras Christian College, a Master of business administration degree from the Indian Institute of Management in Calcutta, and a Master of Public and Private Management from the Yale School of Management. Board Change • Dec 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Craig Arnold was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Oct 31
Dividend of US$1.19 announced Shareholders will receive a dividend of US$1.19. Ex-date: 14th November 2025 Payment date: 5th December 2025 Dividend yield will be 8.4%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 28
Honeywell Introduces New, Innovative Technology That Produces Low-Cost, High Quality Renewable Fuels from Biomass Honeywell introduced a breakthrough technology that converts agricultural and forestry waste into ready-to-use renewable fuels for hard-to-abate sectors, such as the maritime industry. The technology produces lower-carbon marine fuel, gasoline and sustainable aviation fuel (SAF) from inexpensive and abundant biomass sources like wood chips and crop residues. For ship operators, these ready-to-use or drop-in fuels provide a cost-effective and lower-carbon alternative to traditional heavy fuel oil. With higher energy density than many current biofuel alternatives, this renewable marine fuel can extend a vessel's range without requiring costly engine upgrades. Plant and agricultural waste can be converted into lower carbon biocrude at the feedstock collection sites, which keeps transport costs low. Honeywell's new process technology enables biocrude to then be refined at major facilities to produce marine fuel, gasoline or SAF. This helps solve long-standing challenges with converting biocrude into fuels with performance comparable to conventional fuel. Biocrude Upgrading process technology can be delivered in the form of a prefabricated modular plant. As a result, Honeywell can help customers reduce risk and accelerate project timelines by simplifying site construction activity. The introduction of Honeywell's Biocrude Upgrading process Technology comes as shipping companies seek to reduce their carbon footprints due to customer demands and regulatory drivers. Since the 1960s, heavy fuel oil--residual products from the refining of gasoline, diesel, and kerosene-- has been the principal energy source for the maritime sector and a main source of its roughly 3% contribution of global greenhouse gas emissions. For more than a decade, Honeywell has provided process technologies for renewable and alternative fuels using various feedstocks. The new Biocrude Upgrading technology is complementary to its renewable fuels portfolio, which includes EcofiningTM, Ethanol to Jet technology, Fischer-Tropsch (FT) Unicracking™? technology and UOP eFining™?, a process that converts green hydrogen and carbon dioxide into e-fuels. Reported Earnings • Oct 24
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$2.87 (up from US$2.17 in 3Q 2024). Revenue: US$10.4b (up 7.0% from 3Q 2024). Net income: US$1.83b (up 29% from 3Q 2024). Profit margin: 18% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Industrials industry in North America. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Announcement • Oct 23
Honeywell International Inc. Updates Earnings Guidance for the Year Ending December 31, 2025 Honeywell International Inc. updated earnings guidance for the year ending December 31, 2025. For the year, the company expects sales of $40.7 billion - $40.9 billion against previous guidance of $40.8 billion - $41.3 billion. Earnings per share of common stock - diluted is expected to be in the range of $10.60 - $10.70. Announcement • Oct 16
Honeywell International Inc. Announces Resignation of Rose Lee from the Board of Directors, Effective October 15, 2025 On October 15, 2025, Ms. Rose Lee notified the Board of Directors (Board) of Honeywell International Inc. (Company) that, in connection with the anticipated spin-off of the company’s Advanced Materials business into an independent, publicly traded company (Spin-Off), she will be resigning from the Board, effective as of immediately prior to and conditioned upon the consummation of the Spin-Off. Ms. Lee’s decision to resign from the Board follows the earlier announcement that she will serve on the Board of Directors of Solstice Advanced Materials Inc. (Solstice), currently a wholly owned subsidiary of the Company, and is not the result of any disagreement relating to the Company’s operations, policies, or practices. Prior to the consummation of the Spin-Off, Ms. Lee will continue to serve on the Board. Declared Dividend • Oct 01
Second quarter dividend increased to US$1.19 Dividend of US$1.19 is 5.3% higher than last year. Ex-date: 14th November 2025 Payment date: 5th December 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 27
Honeywell International Inc. Increases Quarterly Dividend, Payable on December 5, 2025 Honeywell announced that its Board of Directors has approved an increase in the company's regular annual cash dividend from $4.52 to $4.76 per share. The increase will be effective starting with the fourth-quarter dividend of $1.19 per share, which was declared, and is payable on December 5, 2025, out of surplus to holders of record at the close of business on November 14, 2025. Announcement • Sep 25
Honeywell International Inc. to Report Q3, 2025 Results on Oct 23, 2025 Honeywell International Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Oct 23, 2025 Announcement • Sep 18
Families of Victims in Air India 171 Crash Sue The Boeing Company and Honeywell International The families of four passengers who died in the catastrophic crash of Air India Flight 171 have filed a product defect and negligence lawsuit against The Boeing Company and Honeywell International . The lawsuit alleges a faulty fuel cutoff switch led to the crash that killed 242 people aboard the aircraft and 19 more on the ground shortly after takeoff from the international airport in Ahmedabad, India, in June of this year. According to the lawsuit, filed in Delaware Superior Court, flight data indicates that an Air India pilot accidentally shut off fuel to the Boeing 787-8 Dreamliner’s engines, causing a complete loss of thrust necessary to complete the takeoff. The fuel cutoff switch, manufactured by Honeywell and installed by Boeing, is designed with a locking mechanism to prevent unintended cutoff of fuel supply to the engines mid-flight. But the lawsuit says these switches are installed in a “high traffic” location immediately behind and adjacent to the thrust levers that pilots continuously manipulate during takeoff. In addition, documents show that both Honeywell and Boeing knew the locking mechanism could easily be turned off inadvertently or could be missing altogether. That assertion is supported by a 2018 Federal Aviation Administration report confirming that Boeing and Honeywell were aware that switches were being delivered on the aircraft with the locking mechanism disengaged, allowing for “unintended” fuel cutoff mid-flight. However, there is no evidence that the companies alerted Air India or other customers that the switches must be inspected and repaired for passenger safety and did not ship replacement switches to those airlines for installation. According to the lawsuit, both switches on the Flight 171 aircraft suddenly and inadvertently moved from the “RUN” to the “CUTOFF” position just three seconds after liftoff, completely cutting fuel supply to both engines. A cockpit voice recorder captured a brief exchange between the pilots, indicating that neither intended to shut off fuel to the aircraft. Despite the pilots’ attempts to restore engine power, there was insufficient time for the engines to restart and provide adequate thrust to prevent the crash. The crew transmitted a Mayday call, and six seconds later the Dreamliner crashed into multiple buildings located just one nautical mile from the end of the runway. Recent Insider Transactions • Aug 29
Insider recently sold US$1.3m worth of stock On the 27th of August, Lucian Boldea sold around 6k shares on-market at roughly US$221 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.5m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 28
Insider notifies of intention to sell stock Lucian Boldea intends to sell 36k shares in the next 90 days after lodging an Intent To Sell Form on the 27th of August. If the sale is conducted around the recent share price of US$222, it would amount to US$8.0m. Since December 2024, Lucian's direct individual holding has increased from 12.78k shares to 16.30k. Company insiders have collectively sold US$12m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Jul 30
Second quarter dividend of US$1.13 announced Shareholders will receive a dividend of US$1.13. Ex-date: 15th August 2025 Payment date: 5th September 2025 Dividend yield will be 2.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 8.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: US$2.46 (up from US$2.38 in 2Q 2024). Revenue: US$10.4b (up 8.1% from 2Q 2024). Net income: US$1.57b (up 1.7% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Industrials industry in North America. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Jul 25
Honeywell Announces Quarterly Dividend, Payable on September 5, 2025 Honeywell announced that its Board of Directors has declared a quarterly dividend payment of $1.13 per share on the Company's common stock. The dividend is payable on September 5, 2025, out of surplus to holders of record at the close of business on August 15, 2025. Announcement • Jul 24
Honeywell International Inc. Revises Earnings Guidance for the Full Year Ending December 31, 2025 Honeywell International Inc. revised earnings guidance for the full year ending December 31, 2025. For the period, the company now expects full-year sales to be $40.8 billion to $41.3 billion as compared to previous guidance of $39.6 billion to $40.5 billion. Organic sales growth in the range of 4% to 5% as compared to previous guidance range of 2% to 5%. Earnings per share of common stock - diluted is expected to be between $9.62 - $9.82. Announcement • Jul 08
Honeywell International Inc. Appoints Jim Masso as President and CEO of Honeywell Process Automation, Effective July 14, 2025 Honeywell International Inc. announced that as it continues shaping its portfolio ahead of the planned separation, it has also appointed industry veteran Jim Masso to lead its process automation business. Masso will serve as President and CEO of Honeywell Process Automation, effective July 14, 2025. He brings 20 years of experience in energy services, engineering, operations and management, most recently as President & CEO of Allied Power Group. Prior to that, he held several senior leadership roles at General Electric and delivered transformative solutions across GE's energy portfolio. Announcement • Jun 26
Honeywell International Inc. to Report Q2, 2025 Results on Jul 24, 2025 Honeywell International Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 24, 2025 Board Change • Jun 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Marc Steinberg was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 10
Honeywell Unveils AI-Powered Building Management Solution Honeywell announced the launch of Honeywell Connected Solutions, an AI-powered platform that integrates critical building software and technologies into a single interface to help enable more efficient operations. The platform's early adopters - Verizon Communications Inc. and Vanderbilt University - have already begun using the solution in their buildings. With Connected Solutions, which is built on Honeywell Forge, building operators can manage Honeywell software, systems and devices through one integrated interface. When a building or campus is fully connected, users gain comprehensive data and real-time visibility into how critical systems are operating alongside actionable insights on how to troubleshoot challenges that may arise. Users, which can include facility managers, multi-site operators and integrators, can connect to the platform quickly with an AI-enabled installation process that is completed in hours, dramatically reducing labor time, costs and disruption, compared to traditional building management systems. The solution also addresses the key issues facing buildings through capabilities including: Advanced encryption to help safeguard against cyberthreats, Remote monitoring and diagnostics that help to reduce labor time and cost, Predictive maintenance prompts to spot and address issues before they escalate and Energy-management solutions supporting decarbonization efforts. After integrating Honeywell's Connected Solutions into some of its global footprint, Verizon is using the platform to help predict critical building and system issues before they become serious and costly. Vanderbilt University is also using Connected Solutions across its campus, with nearly 10% of its buildings already adopting the technology. The university aims to enhance building system efficiency, reduce energy consumption and optimize the user experience, particularly in older facilities. Announcement • Jun 09
Honeywell International Inc. (NasdaqGS:HON) completed the acquisition of Sundyne LLC from Warburg Pincus LLC. Honeywell International Inc. (NasdaqGS:HON) agreed to acquire Sundyne LLC from Warburg Pincus LLC for approximately $2.2 billion on March 4, 2025. A cash consideration of $2.16 billion will be paid by Honeywell International Inc. As part of consideration, $2.16 billion is paid towards common equity of Sundyne LLC. This represents approximately 14.5x 2024 EBITDA on a tax-adjusted basis. Honeywell’s acquisition of Sundyne is expected to close in Q2 2025, subject to customary closing conditions, including receipt of certain regulatory approvals. The acquisition is expected to be immediately accretive to Honeywell’s sales growth and segment margin, as well as to adjusted EPS in the first full year of ownership.
Morgan Stanley acted as the financial advisor to Sundyne. Ted M. Frankel, David M. Klein, Edward Brennan, Daniel D. Lewis, Sara B. Zablotney and Scott D. Price of Kirkland & Ellis acted as legal advisor to Honeywell. J.P. Morgan Securities LLC acted as financial advisor to Sundyne LLC.
Honeywell International Inc. (NasdaqGS:HON) completed the acquisition of Sundyne LLC from Warburg Pincus LLC on June 9, 2025. Announcement • May 23
Protective Industrial Products, Inc. completed the acquisition of Personal Protective Equipment Business from Honeywell International Inc. (NasdaqGS:HON). Protective Industrial Products, Inc. agreed to acquire Personal Protective Equipment Business from Honeywell International Inc. (NasdaqGS:HON) for $1.3 billion on November 22, 2024. Protective Industrial Products will acquire the business for $1.325 billion in an all-cash transaction. The transaction, which is expected to be completed in the first half of 2025, is subject to customary closing conditions. As of April 29, 2025 The transaction is expected to be completed in the second quarter of 2025 and is subject to customary closing conditions. Ted M. Frankel, David M. Klein, Daniel D. Lewis, Sara B. Zablotney, Scott D. Price, Melissa J. Hutson, Andrea Agathoklis Murino, Christopher Grady, Todd Herst, Heidi Yuen, Sally Ye, Maureen D. O'Brien, Conor O'Muiri, Sharon Freiman, Ashley Sinclair, Brittany Lischinsky Burke, R.D. Kohut, Daniel J. Gerkin, Jennifer B. Sheehan, Michael Saretsky, Anna F. Geml, Nadine Gelli, Michael Ehret and Guillaume Nivault of Kirkland & Ellis acted as legal advisor to Honeywell.
Protective Industrial Products, Inc. completed the acquisition of Personal Protective Equipment Business from Honeywell International Inc. (NasdaqGS:HON) on May 22, 2025. Buy Or Sell Opportunity • May 07
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 2.3% to US$215. The fair value is estimated to be US$175, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 6.3%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period. Declared Dividend • May 01
First quarter dividend of US$1.13 announced Shareholders will receive a dividend of US$1.13. Ex-date: 16th May 2025 Payment date: 6th June 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 29
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$2.24 (down from US$2.24 in 1Q 2024). Revenue: US$9.82b (up 7.9% from 1Q 2024). Net income: US$1.45b (down 1.0% from 1Q 2024). Profit margin: 15% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Industrials industry in North America. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 2% per year. Announcement • Apr 08
Honeywell International Inc. Announces Executive Changes Honeywell announced that Su Ping Lu has been appointed as Senior Vice President, General Counsel and Corporate Secretary, effective May 5, 2025. She will succeed Anne Madden who is currently Senior Vice President and General Counsel. In this role, Lu will lead Honeywell's global legal, government relations and security teams. She will report to Vimal Kapur, Chairman and CEO of Honeywell. Madden will transition to an evolved role as Senior Vice President of Portfolio Transformation and Senior Advisor; she will continue reporting to Kapur. Honeywell recently announced the planned separation of its Aerospace Technologies business along with the previously announced spin of Advanced Materials, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. In her new role, Madden will lead both efforts through to completion. Lu currently serves as Vice President and Corporate Secretary and General Counsel for International. Lu joined Honeywell in 2009 as Vice President and General Counsel, Aerospace Technologies in Asia Pacific leading legal and contracts support for Honeywell Aerospace's business and operational activities across the Asia Pacific region. Since that time, she has served in increasingly senior roles on Honeywell's legal team and was promoted to her current position in January 2024. Lu began her legal career with Wilson Sonsini, Goodrich & Rosati and Shearman & Sterling. She holds a B.A. in international relations and economics from Stanford University and a J.D. from Columbia University. Anne joined Honeywell's predecessor AlliedSignal in 1996 as General Counsel of Fluorine Products and subsequently held positions of increasing seniority across Honeywell's Specialty Chemical and Performance Materials and Technologies business. Prior to taking on her duties as Honeywell's General Counsel in 2017, Anne was Vice President of Corporate Development and Global Head of M&A. During her 16-year tenure as Global Head of M&A, Honeywell made around 100 acquisitions, representing about $15B in revenue and divested about 70 businesses, representing close to $9B of non-core revenues. Announcement • Apr 02
Honeywell International Inc., Annual General Meeting, May 20, 2025 Honeywell International Inc., Annual General Meeting, May 20, 2025. Announcement • Mar 04
Honeywell International Inc. (NasdaqGS:HON) agreed to acquire Sundyne LLC from Warburg Pincus LLC for $2.2 billion. Honeywell International Inc. (NasdaqGS:HON) agreed to acquire Sundyne LLC from Warburg Pincus LLC for $2.2 billion on March 4, 2025. A cash consideration of $2.16 billion will be paid by Honeywell International Inc. As part of consideration, $2.16 billion is paid towards common equity of Sundyne LLC. This represents approximately 14.5x 2024 EBITDA on a tax-adjusted basis. Honeywell’s acquisition of Sundyne is expected to close in Q2 2025, subject to customary closing conditions, including receipt of certain regulatory approvals. The acquisition is expected to be immediately accretive to Honeywell’s sales growth and segment margin, as well as to adjusted EPS in the first full year of ownership. Declared Dividend • Feb 18
Fourth quarter dividend of US$1.13 announced Shareholders will receive a dividend of US$1.13. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 
