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Also traded in: Argentina, Brazil, Chile, Germany, Mexico, UK

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash-to-Debt 0.60
HON's Cash-to-Debt is ranked lower than
62% of the 1872 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.05 vs. HON: 0.60 )
Ranked among companies with meaningful Cash-to-Debt only.
HON' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.09  Med: 0.39 Max: 1.05
Current: 0.6
0.09
1.05
Equity-to-Asset 0.37
HON's Equity-to-Asset is ranked lower than
76% of the 1837 Companies
in the Global Diversified Industrials industry.

( Industry Median: 0.53 vs. HON: 0.37 )
Ranked among companies with meaningful Equity-to-Asset only.
HON' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.2  Med: 0.33 Max: 0.42
Current: 0.37
0.2
0.42
Debt-to-Equity 0.81
HON's Debt-to-Equity is ranked lower than
77% of the 1470 Companies
in the Global Diversified Industrials industry.

( Industry Median: 0.38 vs. HON: 0.81 )
Ranked among companies with meaningful Debt-to-Equity only.
HON' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.43  Med: 0.61 Max: 1.17
Current: 0.81
0.43
1.17
Debt-to-EBITDA 2.08
HON's Debt-to-EBITDA is ranked higher than
52% of the 1450 Companies
in the Global Diversified Industrials industry.

( Industry Median: 2.24 vs. HON: 2.08 )
Ranked among companies with meaningful Debt-to-EBITDA only.
HON' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.23  Med: 1.62 Max: 2.2
Current: 2.08
1.23
2.2
Interest Coverage 21.06
HON's Interest Coverage is ranked lower than
57% of the 1611 Companies
in the Global Diversified Industrials industry.

( Industry Median: 37.14 vs. HON: 21.06 )
Ranked among companies with meaningful Interest Coverage only.
HON' s Interest Coverage Range Over the Past 10 Years
Min: 5.34  Med: 10.01 Max: 22.03
Current: 21.06
5.34
22.03
Piotroski F-Score: 6
Altman Z-Score: 3.87
Beneish M-Score: -2.62
WACC vs ROIC
7.46%
19.34%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating Margin % 17.23
HON's Operating Margin % is ranked higher than
88% of the 1861 Companies
in the Global Diversified Industrials industry.

( Industry Median: 6.26 vs. HON: 17.23 )
Ranked among companies with meaningful Operating Margin % only.
HON' s Operating Margin % Range Over the Past 10 Years
Min: 7.05  Med: 10.9 Max: 17.7
Current: 17.23
7.05
17.7
Net Margin % 12.68
HON's Net Margin % is ranked higher than
85% of the 1860 Companies
in the Global Diversified Industrials industry.

( Industry Median: 4.58 vs. HON: 12.68 )
Ranked among companies with meaningful Net Margin % only.
HON' s Net Margin % Range Over the Past 10 Years
Min: 5.01  Med: 7.71 Max: 12.68
Current: 12.68
5.01
12.68
ROE % 25.45
HON's ROE % is ranked higher than
92% of the 1819 Companies
in the Global Diversified Industrials industry.

( Industry Median: 7.12 vs. HON: 25.45 )
Ranked among companies with meaningful ROE % only.
HON' s ROE % Range Over the Past 10 Years
Min: 19.25  Med: 25.08 Max: 34.03
Current: 25.45
19.25
34.03
ROA % 9.27
HON's ROA % is ranked higher than
84% of the 1880 Companies
in the Global Diversified Industrials industry.

( Industry Median: 3.71 vs. HON: 9.27 )
Ranked among companies with meaningful ROA % only.
HON' s ROA % Range Over the Past 10 Years
Min: 4.33  Med: 7.81 Max: 10.06
Current: 9.27
4.33
10.06
ROC (Joel Greenblatt) % 91.59
HON's ROC (Joel Greenblatt) % is ranked higher than
96% of the 1875 Companies
in the Global Diversified Industrials industry.

( Industry Median: 12.63 vs. HON: 91.59 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
HON' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 39.97  Med: 67.95 Max: 92.79
Current: 91.59
39.97
92.79
3-Year Revenue Growth Rate 1.10
HON's 3-Year Revenue Growth Rate is ranked lower than
51% of the 1738 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.60 vs. HON: 1.10 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
HON' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -11.2  Med: 2.6 Max: 19.6
Current: 1.1
-11.2
19.6
3-Year EBITDA Growth Rate 6.10
HON's 3-Year EBITDA Growth Rate is ranked higher than
52% of the 1552 Companies
in the Global Diversified Industrials industry.

( Industry Median: 5.30 vs. HON: 6.10 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
HON' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -72.7  Med: 11.7 Max: 257.2
Current: 6.1
-72.7
257.2
3-Year EPS without NRI Growth Rate 8.00
HON's 3-Year EPS without NRI Growth Rate is ranked higher than
55% of the 1423 Companies
in the Global Diversified Industrials industry.

( Industry Median: 4.70 vs. HON: 8.00 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
HON' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -14.5  Med: 14.1 Max: 31.4
Current: 8
-14.5
31.4
GuruFocus has detected 5 Warning Signs with Honeywell International Inc HON.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» HON's 30-Y Financials

Financials (Next Earnings Date: 2017-10-20)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

HON Guru Trades in Q4 2016

NWQ Managers 2,300 sh (New)
Daniel Loeb 1,375,000 sh (New)
Jim Simons 187,600 sh (New)
Diamond Hill Capital 367,493 sh (New)
Joel Greenblatt 252,789 sh (+2701.92%)
Paul Tudor Jones 123,933 sh (+725.83%)
Pioneer Investments 1,395,635 sh (+251.53%)
Murray Stahl 11,654 sh (+13.21%)
Jeremy Grantham 1,209,313 sh (+10.12%)
Mairs and Power 2,245,259 sh (+1.86%)
First Eagle Investment 750 sh (unchged)
Dodge & Cox 7,531 sh (unchged)
David Carlson 160,000 sh (unchged)
John Burbank Sold Out
Scott Black 10,128 sh (-0.53%)
Ken Fisher 378,371 sh (-2.55%)
Mario Gabelli 1,714,312 sh (-4.59%)
Barrow, Hanley, Mewhinney & Strauss 7,930,644 sh (-6.11%)
PRIMECAP Management 4,280,845 sh (-9.55%)
Manning & Napier Advisors, Inc 11,492 sh (-53.87%)
Steven Cohen 230,200 sh (-55.29%)
» More
Q1 2017

HON Guru Trades in Q1 2017

George Soros 2,200 sh (New)
Ray Dalio 8,753 sh (New)
Signature Select Canadian Fund 14,050 sh (New)
Diamond Hill Capital 909,967 sh (+147.61%)
Jim Simons 459,200 sh (+144.78%)
Joel Greenblatt 420,699 sh (+66.42%)
Mairs and Power 2,265,739 sh (+0.91%)
First Eagle Investment 750 sh (unchged)
Dodge & Cox 7,531 sh (unchged)
NWQ Managers 2,300 sh (unchged)
Daniel Loeb 1,375,000 sh (unchged)
Steven Cohen 250,000 sh (unchged)
Manning & Napier Advisors, Inc Sold Out
David Carlson Sold Out
Scott Black 10,071 sh (-0.56%)
PRIMECAP Management 4,251,115 sh (-0.69%)
Murray Stahl 11,404 sh (-2.15%)
Mario Gabelli 1,632,586 sh (-4.77%)
Ken Fisher 356,550 sh (-5.77%)
Jeremy Grantham 1,135,960 sh (-6.07%)
Barrow, Hanley, Mewhinney & Strauss 7,312,872 sh (-7.79%)
Pioneer Investments 1,084,244 sh (-22.31%)
Paul Tudor Jones 80,000 sh (-35.45%)
Steven Cohen 135,000 sh (-41.36%)
» More
Q2 2017

HON Guru Trades in Q2 2017

Manning & Napier Advisors, Inc 116,057 sh (New)
Caxton Associates 55,000 sh (New)
Jim Simons 1,269,100 sh (+176.37%)
Ray Dalio 12,996 sh (+48.47%)
Paul Tudor Jones 101,390 sh (+26.74%)
Murray Stahl 11,577 sh (+1.52%)
Mairs and Power 2,266,094 sh (+0.02%)
First Eagle Investment 750 sh (unchged)
Dodge & Cox 7,531 sh (unchged)
NWQ Managers 2,300 sh (unchged)
George Soros Sold Out
Scott Black Sold Out
Jeremy Grantham 1,135,233 sh (-0.06%)
PRIMECAP Management 4,216,490 sh (-0.81%)
Diamond Hill Capital 901,945 sh (-0.88%)
Mario Gabelli 1,603,696 sh (-1.77%)
Daniel Loeb 1,275,000 sh (-7.27%)
Steven Cohen 110,000 sh (-18.52%)
Joel Greenblatt 325,096 sh (-22.72%)
Pioneer Investments 787,240 sh (-27.39%)
Barrow, Hanley, Mewhinney & Strauss 4,346,761 sh (-40.56%)
Ken Fisher 149,974 sh (-57.94%)
» More
Q3 2017

HON Guru Trades in Q3 2017

Diamond Hill Capital 898,971 sh (-0.33%)
» More
» Details

Insider Trades

Latest Guru Trades with HON

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Barrow, Hanley, Mewhinney & Strauss 2017-06-30 Reduce -40.56%0.56%$122.5 - $135.84 $ 145.1611%4,346,761
Mario Gabelli 2017-06-30 Reduce -1.77%0.02%$122.5 - $135.84 $ 145.1611%1,603,696
Joel Greenblatt 2017-06-30 Reduce -22.72%0.15%$122.5 - $135.84 $ 145.1611%325,096
Ken Fisher 2017-06-30 Reduce -57.94%0.04%$122.5 - $135.84 $ 145.1611%149,974
George Soros 2017-06-30 Sold Out 0.01%$122.5 - $135.84 $ 145.1611%0
Barrow, Hanley, Mewhinney & Strauss 2017-03-31 Reduce -7.79%0.11%$116.18 - $127.25 $ 145.1619%7,312,872
Mario Gabelli 2017-03-31 Reduce -4.77%0.06%$116.18 - $127.25 $ 145.1619%1,632,586
Joel Greenblatt 2017-03-31 Add 66.42%0.27%$116.18 - $127.25 $ 145.1619%420,699
Ken Fisher 2017-03-31 Reduce -5.77%$116.18 - $127.25 $ 145.1619%356,550
George Soros 2017-03-31 New Buy0.01%$116.18 - $127.25 $ 145.1619%2,200
Barrow, Hanley, Mewhinney & Strauss 2016-12-31 Reduce -6.11%0.08%$105.78 - $118.09 $ 145.1629%7,930,644
Mario Gabelli 2016-12-31 Reduce -4.59%0.06%$105.78 - $118.09 $ 145.1629%1,714,312
Ken Fisher 2016-12-31 Reduce -2.55%$105.78 - $118.09 $ 145.1629%378,371
Joel Greenblatt 2016-12-31 Add 2701.92%0.37%$105.78 - $118.09 $ 145.1629%252,789
NWQ Managers 2016-12-31 New Buy$105.78 - $118.09 $ 145.1629%2,300
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Business Description

Industry: Industrial Products » Diversified Industrials    NAICS: 333999    SIC: 3999
Compare:XTER:SIE, NYSE:MMM, XSWX:ABBN, NYSE:ITW, OSTO:ATCO B, XPAR:SU, NYSE:EMR, TSE:6954, XAMS:PHIA, TSE:6594, NYSE:ETN, NYSE:CMI, OHEL:KNEBV, NYSE:ROP, TSE:6273, NYSE:PH, XSWX:SCHN, NYSE:ROK, NYSE:IR, OSTO:SAND » details
Traded in other countries:HON.Argentina, HONB34.Brazil, HON.Chile, ALD.Germany, HON.Mexico, HON.UK,
Headquarter Location:USA
Honeywell International Inc is a diversified technology and manufacturing company serving customers with aerospace products and services, energy efficient products and solutions, specialty chemicals, electronic, refining and petrochemicals.

Honeywell is a diversified industrial manufacturer that operates four main business segments: aerospace, home and building technologies, safety and productivity solutions, and performance materials. The company sells into a variety of end markets, including energy, automotive, aerospace, commercial building systems, and specialty chemicals. It derived more than half of its sales outside of the United States in 2016.

Guru Investment Theses on Honeywell International Inc

Mario Gabelli Comments on Honeywell International Inc. - Aug 18, 2017

Honeywell_International,_Inc._(1.4%)_(NYSE:HON)(HON__$133.29__NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth is acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric, and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.


From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2017 shareholder letter.

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Mario Gabelli Comments on Honeywell International Inc. - May 10, 2017

Honeywell International Inc. (1.4%) (HON – $124.87 – NYSE) (NYSE:HON) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth is acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric, and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.

From Mario Gabelli (Trades, Portfolio)'s Gabelli Equity Income Fund 2017 first quarter shareholder commentary.

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Daniel Loeb Comments on Honewell - Apr 28, 2017

TheFirstQuarter of 2017 markeda turning point in both capital and credit in European financials. As the reflation trade has picked up steam, European banks have maintained lower valuations than US banks (0.7x vs. 1.2x book), driven by a lack of confidence in capital and an inadequate clearing mechanism for legacy non-performing loans (NPLs). The ECB recently noted there were still € 921 billion of NPLs at significant EU financial institutions. However, its guidance on NPLs, released with NPL in ratios March, >3x offered the level a firm of US but and pragmatic Japanese pproach banks to accelerate NPL resolutions and Q1 2017 was the second biggest quarter for announced capital issuance in over five years. While at home the opportunity in financials is linked closely to rising rates, banks in Europe offer a different hook: tangible progress on balance sheet clarity.

Third Point recently made an investment in UniCredit SpA (MIL:UCG), which raised €13 billion in fresh capital in March, the largest rights issue in European financials since 2009. UniCredit is the second largest listed bank in Italy and has a significant presence in Germany and Austria. We invested in their last rights issue in early 2012, similarly taking advantage of significant volatility during the rights period to establish our position.

We view UniCredit’s current recapitalization as a definitive clean -up. UniCredit has raised almost two times the capital that was the “consensus” view in mid-2016 and is raising another €6+ billion from selling its stake in Bank Pekao and Pioneer Asset Management. This combination of almost €20 billion of fresh capital puts the bank at ~12.6% pro forma CET1. UniCredit also cleaned up almost half the NPLs in its Non -Core Bank and took significant upfront charges related to its restructuring plan, which will see headcount reduced by 14% and branches reduced by 25%, all by 2019.

We were drawn to UniCredit by its low valuation and the rights issue. We believe in the medium-term story because of its new CEO, Jean Pierre Mustier. Mustier had an over 20 year career at SocGen, where he contributed to building its leading equity derivatives and asset management businesses. He then ran UniCredit’s Corporate and Investment Bank from 2011 – 2015, where it was consistently one of the financial industry’s most efficient businesses on a cost/income basis (<45%). While UniCredit shares have appreciated since the rights issue, we still see significant upside for UniCredit with shares trading at just 0.65x tangible book, <9.0x our 2018E EPS estimate and <7.5x our 2019E estimate. These forecasts exclude additional potential upside from rising interest rates or better asset quality, despite the significant progress on NPL resolutions and property transactions we have seen in recent quarters.

From Daniel Loeb (Trades, Portfolio)'s first quarter 2017 Third Point shareholder letter.

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Mario Gabelli Comments on Honeywell International Inc. - Nov 02, 2016

Honeywell International Inc. (NYSE:HON) (1.3%) (HON $116.59 – NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth is acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric, and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.

From Mario Gabelli (Trades, Portfolio)'s Equity Income Fund 3rd quarter 2016 commentary.

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GAMCO Investors Comments on Honeywell International Inc. - Oct 28, 2016

Honeywell International Inc. (NYSE:HON) (2.8%) (HON – $116.59 – NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth is acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric, and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.



The Gabelli Value 25 Fund third quarter 2016 commentary.



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Mario Gabelli Comments on Honeywell International Inc. - Jul 27, 2016

Honeywell International Inc. (NYSE:HON) (3.1%) (HON – $116.32 – NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth are acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.

From Mario Gabelli (Trades, Portfolio)'s Value 25 Fund second quarter commentary.

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Mario Gabelli Comments on Honeywell International Inc. - May 12, 2016

Honeywell International Inc. (NYSE:HON)(3.9%) (HON – $112.05 – NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth are acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.



From the Gabelli 25 Value Fund first quarter 2016 shareholder commentary.



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Mario Gabelli Comments on Honeywell International Inc. - Feb 10, 2016

Honeywell International Inc. (3.9%) (HON – $103.57 – NYSE) (NYSE:HON) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth are acquisitions that increase the company’s growth profile globally, creating both organic and inorganic opportunities. The company recently acquired Elster Industries, a leading provider of thermal gas solutions, smart meters, software and data analytics for the commercial, industrial and residential heating market. Elster’s gas business offers products in high demand among natural gas customers and brings a strong, global distribution network and numerous cross-selling opportunities for existing HON technologies to new customers. Elster’s gas, electric and water meters are highly valued for their reliability, safety and accuracy. The company maintains an installed base of more than 200 million meter modules deployed over the course of the last 10 years that generate significant recurring revenues. We believe acquisitions such as Elster should drive meaningful and sustained growth for HON spurred by global energy efficiency initiatives and natural resource management.



From Mario Gabelli (Trades, Portfolio)'s Value 25 Fund fourth quarter 2015 commentary.

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GAMCO Investors Comments on Honeywell International Inc. - Dec 22, 2015

Honeywell International Inc. (NYSE:HON)(3.3%) (HON – $94.69 – NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth is that the company is constantly developing new products and services for the marketplace. One new product the company has developed is Solstice, a fluorocarbon with zero depleting ozone qualities and negligible global warming contribution. The product will be used in various aerosol applications and in the air conditioning systems of vehicles. Driven by consumer demand and European Union regulation, demand for Solstice is expected to increase significantly. A new service that the company is providing is connectivity in airplanes, as well as residential, commercial, and industrial buildings. In airplanes, HON has products across the entire connectivity chain, from hardware to apps and data services, which can provide high speed Internet service. In buildings, the company has a large installed base of devices, including security and fire systems, room controls, and smoke detectors that can be connected with smart devices to increase productivity, efficiency, and safety. These products and services should continue to drive HON’s future earnings higher.





From the Gabelli Dividend Growth Fund third quarter 2015 commentary.



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Mario Gabelli Comments on Honeywell International Inc. - Oct 21, 2015

Honeywell International Inc. (NYSE:HON)(3.3%) (HON – $94.69 – NYSE) operates as a diversified technology company with highly engineered products, including turbine propulsion engines, auxiliary power units, turbochargers, brake pads, environmental and combustion controls, sensors, security and life safety products, resins and chemicals, nuclear services, and process technology for the petrochemical and refining industries. One of the key drivers of HON’s growth is that the company is constantly developing new products and services for the marketplace. One new product the company has developed is Solstice, a fluorocarbon with zero depleting ozone qualities and negligible global warming contribution. The product will be used in various aerosol applications and in the air conditioning systems of vehicles. Driven by consumer demand and European Union regulation, demand for Solstice is expected to increase significantly. A new service that the company is providing is connectivity in airplanes, as well as residential, commercial, and industrial buildings. In airplanes, HON has products across the entire connectivity chain, from hardware to apps and data services, which can provide high speed Internet service. In buildings, the company has a large installed base of devices, including security and fire systems, room controls, and smoke detectors that can be connected with smart devices to increase productivity, efficiency, and safety. These products and services should continue to drive HON’s future earnings higher.



From GAMCO's third quarter 2015 Value 25 Fund shareholder commentary.



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Ratios

vs
industry
vs
history
PE Ratio 22.51
HON's PE Ratio is ranked higher than
52% of the 1478 Companies
in the Global Diversified Industrials industry.

( Industry Median: 23.05 vs. HON: 22.51 )
Ranked among companies with meaningful PE Ratio only.
HON' s PE Ratio Range Over the Past 10 Years
Min: 6.82  Med: 18.55 Max: 23.14
Current: 22.51
6.82
23.14
Forward PE Ratio 18.42
HON's Forward PE Ratio is ranked higher than
57% of the 167 Companies
in the Global Diversified Industrials industry.

( Industry Median: 18.98 vs. HON: 18.42 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 22.51
HON's PE Ratio without NRI is ranked higher than
52% of the 1482 Companies
in the Global Diversified Industrials industry.

( Industry Median: 23.00 vs. HON: 22.51 )
Ranked among companies with meaningful PE Ratio without NRI only.
HON' s PE Ratio without NRI Range Over the Past 10 Years
Min: 6.82  Med: 18.6 Max: 25.81
Current: 22.51
6.82
25.81
Price-to-Owner-Earnings 21.52
HON's Price-to-Owner-Earnings is ranked higher than
53% of the 883 Companies
in the Global Diversified Industrials industry.

( Industry Median: 22.57 vs. HON: 21.52 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
HON' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 5.51  Med: 16.3 Max: 26.04
Current: 21.52
5.51
26.04
PB Ratio 5.42
HON's PB Ratio is ranked lower than
85% of the 1820 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.94 vs. HON: 5.42 )
Ranked among companies with meaningful PB Ratio only.
HON' s PB Ratio Range Over the Past 10 Years
Min: 1.92  Med: 4.04 Max: 5.82
Current: 5.42
1.92
5.82
PS Ratio 2.84
HON's PS Ratio is ranked lower than
72% of the 1817 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.32 vs. HON: 2.84 )
Ranked among companies with meaningful PS Ratio only.
HON' s PS Ratio Range Over the Past 10 Years
Min: 0.49  Med: 1.36 Max: 2.84
Current: 2.84
0.49
2.84
Price-to-Free-Cash-Flow 22.63
HON's Price-to-Free-Cash-Flow is ranked lower than
57% of the 633 Companies
in the Global Diversified Industrials industry.

( Industry Median: 19.42 vs. HON: 22.63 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
HON' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 6.08  Med: 18.64 Max: 26.38
Current: 22.63
6.08
26.38
Price-to-Operating-Cash-Flow 18.77
HON's Price-to-Operating-Cash-Flow is ranked lower than
66% of the 792 Companies
in the Global Diversified Industrials industry.

( Industry Median: 13.12 vs. HON: 18.77 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
HON' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 4.76  Med: 14.4 Max: 18.77
Current: 18.77
4.76
18.77
EV-to-EBIT 17.03
HON's EV-to-EBIT is ranked higher than
51% of the 1537 Companies
in the Global Diversified Industrials industry.

( Industry Median: 16.85 vs. HON: 17.03 )
Ranked among companies with meaningful EV-to-EBIT only.
HON' s EV-to-EBIT Range Over the Past 10 Years
Min: 5.9  Med: 13.4 Max: 19.3
Current: 17.03
5.9
19.3
EV-to-EBITDA 14.74
HON's EV-to-EBITDA is ranked lower than
55% of the 1607 Companies
in the Global Diversified Industrials industry.

( Industry Median: 12.77 vs. HON: 14.74 )
Ranked among companies with meaningful EV-to-EBITDA only.
HON' s EV-to-EBITDA Range Over the Past 10 Years
Min: 4.9  Med: 11.1 Max: 14.8
Current: 14.74
4.9
14.8
EV-to-Revenue 2.97
HON's EV-to-Revenue is ranked lower than
72% of the 1836 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.40 vs. HON: 2.97 )
Ranked among companies with meaningful EV-to-Revenue only.
HON' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.7  Med: 1.5 Max: 3
Current: 2.97
0.7
3
PEG Ratio 1.38
HON's PEG Ratio is ranked higher than
68% of the 749 Companies
in the Global Diversified Industrials industry.

( Industry Median: 2.22 vs. HON: 1.38 )
Ranked among companies with meaningful PEG Ratio only.
HON' s PEG Ratio Range Over the Past 10 Years
Min: 0.32  Med: 1.25 Max: 63.85
Current: 1.38
0.32
63.85
Shiller PE Ratio 32.14
HON's Shiller PE Ratio is ranked lower than
55% of the 409 Companies
in the Global Diversified Industrials industry.

( Industry Median: 28.39 vs. HON: 32.14 )
Ranked among companies with meaningful Shiller PE Ratio only.
HON' s Shiller PE Ratio Range Over the Past 10 Years
Min: 11.85  Med: 26.72 Max: 32.64
Current: 32.14
11.85
32.64
Current Ratio 1.34
HON's Current Ratio is ranked lower than
74% of the 1747 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.86 vs. HON: 1.34 )
Ranked among companies with meaningful Current Ratio only.
HON' s Current Ratio Range Over the Past 10 Years
Min: 1.06  Med: 1.33 Max: 1.86
Current: 1.34
1.06
1.86
Quick Ratio 1.08
HON's Quick Ratio is ranked lower than
62% of the 1745 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.32 vs. HON: 1.08 )
Ranked among companies with meaningful Quick Ratio only.
HON' s Quick Ratio Range Over the Past 10 Years
Min: 0.54  Med: 0.91 Max: 1.28
Current: 1.08
0.54
1.28
Days Inventory 62.03
HON's Days Inventory is ranked higher than
73% of the 1808 Companies
in the Global Diversified Industrials industry.

( Industry Median: 98.05 vs. HON: 62.03 )
Ranked among companies with meaningful Days Inventory only.
HON' s Days Inventory Range Over the Past 10 Years
Min: 50.26  Med: 54.83 Max: 62.03
Current: 62.03
50.26
62.03
Days Sales Outstanding 78.29
HON's Days Sales Outstanding is ranked higher than
52% of the 1453 Companies
in the Global Diversified Industrials industry.

( Industry Median: 80.49 vs. HON: 78.29 )
Ranked among companies with meaningful Days Sales Outstanding only.
HON' s Days Sales Outstanding Range Over the Past 10 Years
Min: 61.2  Med: 69.3 Max: 79.75
Current: 78.29
61.2
79.75
Days Payable 80.75
HON's Days Payable is ranked higher than
58% of the 1408 Companies
in the Global Diversified Industrials industry.

( Industry Median: 65.99 vs. HON: 80.75 )
Ranked among companies with meaningful Days Payable only.
HON' s Days Payable Range Over the Past 10 Years
Min: 49.19  Med: 62.62 Max: 80.75
Current: 80.75
49.19
80.75

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.84
HON's Dividend Yield % is ranked higher than
64% of the 1889 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.31 vs. HON: 1.84 )
Ranked among companies with meaningful Dividend Yield % only.
HON' s Dividend Yield % Range Over the Past 10 Years
Min: 1.57  Med: 2.07 Max: 4.81
Current: 1.84
1.57
4.81
Dividend Payout Ratio 0.40
HON's Dividend Payout Ratio is ranked higher than
51% of the 1202 Companies
in the Global Diversified Industrials industry.

( Industry Median: 0.31 vs. HON: 0.40 )
Ranked among companies with meaningful Dividend Payout Ratio only.
HON' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.29  Med: 0.38 Max: 0.59
Current: 0.4
0.29
0.59
3-Year Dividend Growth Rate 13.40
HON's 3-Year Dividend Growth Rate is ranked higher than
67% of the 910 Companies
in the Global Diversified Industrials industry.

( Industry Median: 6.30 vs. HON: 13.40 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
HON' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: -17.8  Med: 8.1 Max: 17.1
Current: 13.4
-17.8
17.1
Forward Dividend Yield % 2.07
HON's Forward Dividend Yield % is ranked higher than
55% of the 1801 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.75 vs. HON: 2.07 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 3.31
HON's 5-Year Yield-on-Cost % is ranked higher than
74% of the 2315 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.99 vs. HON: 3.31 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
HON' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 2.79  Med: 3.68 Max: 8.55
Current: 3.31
2.79
8.55
3-Year Average Share Buyback Ratio 1.00
HON's 3-Year Average Share Buyback Ratio is ranked higher than
87% of the 1066 Companies
in the Global Diversified Industrials industry.

( Industry Median: -2.20 vs. HON: 1.00 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
HON' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -13.4  Med: 0.1 Max: 4.3
Current: 1
-13.4
4.3

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 2.16
HON's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
60% of the 992 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.60 vs. HON: 2.16 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
HON' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.53  Med: 1.64 Max: 3.34
Current: 2.16
0.53
3.34
Price-to-Median-PS-Value 2.10
HON's Price-to-Median-PS-Value is ranked lower than
85% of the 1629 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.24 vs. HON: 2.10 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
HON' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.22  Med: 0.84 Max: 2.1
Current: 2.1
0.22
2.1
Price-to-Peter-Lynch-Fair-Value 1.62
HON's Price-to-Peter-Lynch-Fair-Value is ranked lower than
52% of the 462 Companies
in the Global Diversified Industrials industry.

( Industry Median: 1.54 vs. HON: 1.62 )
Ranked among companies with meaningful Price-to-Peter-Lynch-Fair-Value only.
HON' s Price-to-Peter-Lynch-Fair-Value Range Over the Past 10 Years
Min: 0.37  Med: 1.09 Max: 4.31
Current: 1.62
0.37
4.31
Earnings Yield (Greenblatt) % 5.86
HON's Earnings Yield (Greenblatt) % is ranked higher than
60% of the 1878 Companies
in the Global Diversified Industrials industry.

( Industry Median: 4.52 vs. HON: 5.86 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
HON' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 5.2  Med: 7.5 Max: 16.9
Current: 5.86
5.2
16.9
Forward Rate of Return (Yacktman) % 17.39
HON's Forward Rate of Return (Yacktman) % is ranked higher than
78% of the 1089 Companies
in the Global Diversified Industrials industry.

( Industry Median: 6.55 vs. HON: 17.39 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
HON' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 0.9  Med: 18.5 Max: 34
Current: 17.39
0.9
34

More Statistics

Revenue (TTM) (Mil) $39,359.00
EPS (TTM) $ 6.45
Beta0.98
Short Percentage of Float1.12%
52-Week Range $107.41 - 145.30
Shares Outstanding (Mil)760.57

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 39,930 41,687 43,077
EPS ($) 7.06 7.86 8.43
EPS without NRI ($) 7.06 7.86 8.43
EPS Growth Rate
(Future 3Y To 5Y Estimate)
11.60%
Dividends per Share ($) 2.71 3.09 3.38

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAY
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyN
Higher Current Ratio yoyY
Less Shares Outstanding yoyY
Higher Gross Margin yoyY
Higher Asset Turnover yoyN

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