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Company Update: Honeywell International Inc (NYSE:HON) – Honeywell Names Darius Adamczyk To Succeed Dave Cote As CEO On March 31, 2017; Cote To Serve As Executive Chairman Until Annual Shareowners Meeting In April 2018

[PR Newswire] – MORRIS PLAINS, N.J., June 28, 2016 /PRNewswire/ — Honeywell (HON) today announced that Darius Adamczyk, President and Chief Operating Officer, will succeed Dave Cote as Chief Executive Officer on March 31, 2017. Cote, who has been Chairman and CEO of Honeywell since 2002, will continue as Executive Chairman until the Company’s Annual Shareowners Meeting in April 2018. After that, Cote will start a five-year consulting and non-compete agreement with Honeywell. Read more on this. Honeywell International Inc. (HON) , with a current market cap of $86.93B, began trading this morning at $113.32. Looking at today’s trading action, the company’s one day range from $112.38 to $114.10 with its 52-week range being $87.00 to $118.53. HON shares are currently priced at 16.74x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.71x forward p/e ratio. And for passive income investors, the company pays shareholders $2.38 per share annually in dividends, yielding 2.11%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.64 per share, which would be $0.13 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $6.66 is a $0.56 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $10.13 Billion. If reported, that would be a 3.58% increase over the year-ago quarter. Recently, UBS Initiated HON at Neutral (Jan 22, 2015). Previously, Stifel Nicolaus Initiated HON at to Buy. When considering if the stock is under or overvalued, the average price target is $125.28, which is 10.55% above where the stock opened this morning. See more in (NYSE:HON) Similar Articles: Company Update (NYSE:HON): Honeywell Announces Plan To Spin Off Resins And Chemicals Business To Shareowners Company Update: Honeywell International Inc (NYSE:HON) – Honeywell Hosts Annual Investor Conference; Reaffirms First Quarter And Full-Year 2016 Outlook; Targets 2017 Core Organic Sales Up 4-5% Market Update: Honeywell International Inc (NYSE:HON) – Honeywell Completes Acquisition Of COM DEV International’s Space Hardware And Systems Business
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