A proxy for the coming Internet of Things and software used in industrial settings
Just a few weeks ago, on Aug. 31, Honeywell International
Inc. (NYSE:HON) joined the ranks of the Dow Jones Industrial Average (DJI), the
index that is supposed to reflect the broader market of all stocks traded in
the United States.
It's a prestigious move, but one that doesn't necessarily
mean much to the share price. Three-month price chart, the stock got an
immediate boost after Aug. 31 and then promptly got back to normal.
Honeywell describes itself in its 10-K for 2019 as a diversified
technology and manufacturing company that "invents and commercializes
technologies that address some of the world's most critical challenges around
energy, safety, security, air travel, productivity and global
urbanization."
Further, it states it is committed to becoming one of the
world's top software-industrial companies. To that end, it has undergone some
transitional events. Since 2016 it has spun off three companies that are no
longer considered a fit with the company's new direction.
It also has been investing in new growth. As management
noted in the 10-K, "In 2019 we deployed capital of $7.8 billion, including
capital expenditures, dividends, share repurchases, mergers and acquisitions,
and venture investments."
The firm operates through four divisions:
Aerospace
Honeywell Building
Technologies
Performance
Materials and Technologies
Safety and
Productivity Solutions
Using its innovative strengths, including $1.5 billion spent
on research and development last year, it is developing new products that
address Covid-19 problems, as well as the Internet of Things and other issues
of the day.
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