A flurry of activities are swirling around Honeywell International (HON), as seen in a plethora of market actions and shifts. The Georgia-based tech industrial giant has had multiple notable influencers and investors modify their positions in it. For instance, the companies Soros Fund Management LLC, Quarry LP, Investment Management Corp of Ontario, and many others have increased their stake in HON. On the other hand, firms like Edgestream Partners L.P and Point72 Asia Singapore Pte. Ltd have lessened their holdings.
Perhaps, the most influential event is, HON cutting its 2024 earnings guidance due to launch costs, which resulted in a significant plunge in the stock. However, RBC has reacted neutrally to slightly positively to this action. Subsequently, activist investor Elliott has taken a whopping $5 billion stake in the company, pushing for a significant split that they believe could boost the company's value by 75%.
Moreover, HON has also won a 25-year contract for Australia's first all-electric hospital automation system. The company partnered with Bombardier, announcing an update on its 2024 outlook.
Honeywell International HON News Analytics from Wed, 12 Jun 2024 07:00:00 GMT to Fri, 06 Dec 2024 12:07:20 GMT - Rating 5 - Innovation 7 - Information 8 - Rumor -3
