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Company Update: Honeywell International Inc (NYSE:HON) – Honeywell To Acquire Intelligrated, A Leader In Supply Chain And Warehouse Automation Technologies

[PR Newswire] – FORT MILL, S.C., July 1, 2016 /PRNewswire/ — Honeywell (HON) announced it has signed an agreement to acquire privately held, supply chain and warehouse automation leader Intelligrated for $1.5 billion from a company backed by the Permira funds. The purchase price translates to approximately 12 times Intelligrated’s estimated 2016 earnings before interest, taxes, depreciation and amortization (EBITDA). Upon approval, Intelligrated will be part of Sensing and Productivity Solutions (S&PS) in Honeywell’s Automation and Control Solutions business. Read more on this. Honeywell International Inc. (HON) , valued at $89.55B, started the session at $116.65. Looking at the equity, the company’s one day range is $116.57 to $117.62 and has traded between $87.00 and $118.53 over the past year. HON shares are currently priced at 17.47x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.71x earnings multiple. And for dividend hunters, the company pays shareholders $2.38 per share annually in dividends, yielding 2.09%. According to a consensus of 19 analysts, the earnings estimate of $1.64 per share would be $0.13 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $6.66, which would be a $0.56 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $10.13 Billion. If realized, that would be a 3.58% increase over the year-ago quarter. In terms of ratings, UBS Initiated HON at Neutral (Jan 22, 2015). Previously, Stifel Nicolaus Initiated HON at to Buy. With the above information in mind, readers should note that the average price target is $125.18, which is 7.31% above where the stock opened this morning. See more in (NYSE:HON) Similar Articles: Stock Update: Honeywell International Inc (NYSE:HON) – Empire Aviation Group Enhances Its In-Flight Wi-Fi Services With Honeywell Technologies Stock Update (NYSE:HON): Honeywell Names President And Chief Operating Officer And New Leader Of Performance Materials And Technologies Market Update: Honeywell International Inc (NYSE:HON) – Vietnam’s PV Gas Selects Honeywell Modular Gas Processing Plant And Automation To Produce Liquefied Petroleum Gas (LPG)
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