HONEYWELL INTERNATIONAL INC.

(HON)
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Delayed Nasdaq  -  05/16 04:00:00 pm EDT
193.96 USD   +0.22%
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GE split could nudge other big companies to become leaner, simpler

11/10/2021 | 11:06am EDT
General Electric logo is seen through magnifier in front of displayed Aviation, Energy, Healthcare words in this illustration taken

(Reuters) - Large U.S. companies may be compelled to simplify their structure by splitting or offloading a particular unit following General Electric Co's bold move to break off into three companies, at least three Wall Street analysts said.

There is a growing call from investors for companies to present a clear picture of their operations as factors like climate change become a cornerstone of investment decision making. The effects of the COVID-19 pandemic have added to the pressure.

"I think there's definitely a strong tolling of the bell for conglomerates," William Blair & Company analyst Nicholas Heymann said.

GE said on Tuesday that it will split into three public companies seeking to simplify its business, pare down debt and breathe life into a battered share price.

The move could embolden the boards of several other multi-industry companies, such as Emerson Electric Co, Roper Technologies Inc and 3M, to move ahead on more aggressive portfolio simplification moves, RBC Capital Markets analyst Deane Dray said.

3M declined to comment. Roper and Emerson did not immediately respond to a request for comment.

"The simple reality is that companies are permissioned to conglomerate so long as they promise to de-conglomerate as soon as the prior strategy stops working," Scott Davis, an analyst at Melius Research said.

Davis also pointed out that complete or partial breakups have been successful for companies like Illinois Tool Works and Honeywell International Inc.

Citigroup analyst Martin Wilkie said GE's proposed split could heap the pressure on rival Siemens AG to become leaner.

Siemens last year spun-off its turbine business Siemens Energy, a move to help it transform itself to a more focused industrial technology company.

(Reporting by Aniruddha Ghosh and Kannaki Deka in Bengaluru; Editing by Bernard Orr)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. -0.38% 47.46 Delayed Quote.-21.41%
EMERSON ELECTRIC CO. 0.92% 84.45 Delayed Quote.-9.99%
GENERAL ELECTRIC COMPANY -0.56% 74.63 Delayed Quote.-21.00%
HONEYWELL INTERNATIONAL INC. 0.22% 193.96 Delayed Quote.-6.98%
ILLINOIS TOOL WORKS INC. -0.27% 207.07 Delayed Quote.-16.10%
ROPER TECHNOLOGIES, INC. -0.11% 429.86 Delayed Quote.-12.61%
S&P 500 -0.39% 4008.01 Real-time Quote.-15.91%
SIEMENS AG 3.03% 117.04 Delayed Quote.-25.60%
All news about HONEYWELL INTERNATIONAL INC.
05/13INSIDER SELL : Honeywell International
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05/12HONEYWELL INTERNATIONAL INC. : Ex-dividend day for
FA
05/10U.S. FAA shifts gears on certifying future 'flying taxi' pilots
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Financials (USD)
Sales 2022 36 054 M - -
Net income 2022 5 814 M - -
Net Debt 2022 8 253 M - -
P/E ratio 2022 22,7x
Yield 2022 2,04%
Capitalization 132 B 132 B -
EV / Sales 2022 3,89x
EV / Sales 2023 3,66x
Nbr of Employees 99 000
Free-Float 71,0%
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 193,96 $
Average target price 221,63 $
Spread / Average Target 14,3%
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Managers and Directors
Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Suresh Venkatarayal Chief Technology Officer
Victor J. Miller Secretary, Chief Compliance Officer & VP
D. Scott Davis Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
HONEYWELL INTERNATIONAL INC.-6.98%132 035
BERKSHIRE HATHAWAY INC.3.02%682 584
SIEMENS AG-25.60%94 420
3M COMPANY-15.27%85 643
GENERAL ELECTRIC COMPANY-21.00%82 143
ILLINOIS TOOL WORKS INC.-16.10%64 490