Honeywell International Inc. anticipates a 1% drop in second-quarter revenue, falling short of Wall Street expectations, following a 0.5% reduction in the first quarter. Insiders have sold significant stakes in the company, sparking concerns about confidence in its future amid ongoing financial challenges. As it navigates this turbulent period, Honeywell is set to spin off its chemical business and quantum computing unit, Quantinuum, by June 30, prompting Jefferies to lower its price recommendation to $240 while maintaining a 'Hold' rating.
“Record Date: AUG 10, 2022”
“HONEYWELL · forecast · second-quarter revenue · below Wall Street estimates”
“HONEYWELL · reported · first quarter revenue reduction · 0.5%”
“HONEYWELL · expects · second quarter revenue drop · roughly 1%”
“Honeywell · provides actionable solutions and innovations for · aerospace, building automation, industrial automation, process automation, and process technology · to help make the world smarter, safer, more secure, and sustainable”
“Honeywell International Inc. · has · Quantitative Grade · D”
“Honeywell International Inc. · was · among the stocks on Jim Cramer’s Mad Money radar · true”
“Honeywell International Inc. · will split the company up · on June 30th · true”
“Honeywell International Inc. · has already split off · the chemical business · true”
“Cramer · thinks · people don’t respect Honeywell · true”
“HONEYWELL · forecast · second-quarter revenue · below Wall Street estimates”
“HONEYWELL · reported · revenue reduction · 0.5%”