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Honeywell Adjusts Full Year 2024 Guidance

publication date: Oct 24, 2024
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Image: Honeywell’s shares have traded sideways the past couple years. 

Honeywell has a lot of moving parts these days. The company closed its $1.9 billion acquisition of CAES Systems and $1.8 billion acquisition of Air Products’ LNG business, while it plans to spin off its Advanced Materials business and exit its PPE business. We’re big fans of Honeywell’s aerospace division, which recorded its ninth consecutive quarter of double-digit organic growth thanks to strong commercial original equipment and solid growth in commercial aftermarket. Though the firm reduced its revenue and free cash flow outlook for 2024, we like the long-term story at Honeywell, and the company remains a core holding in the Dividend Growth Newsletter portfolio. Our fair value estimate stands at $216 per share.


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