Honeywell International Inc. (NYSE:HON) recently announced that it has entered into an agreement with SmartSky Networks, a provider of air-to-ground network solutions for business aviation.
With the help of 5G technologies, SmartSky’s air-to-ground network offers a reliable and secured IFC solution for airlines, supporting inflight connectivity for aircraft. Notably, the SmartSky network sends a low-latency signal to each aircraft in the network, which supports high performance irrespective of network loading.
Per the agreement, Honeywell will serve as an authorized value-added reseller for SmartSky’s air-to-ground services, using 5G technologies for North American airlines. Notably, it will allow Honeywell to expand its inflight connectivity services, along with boosting its diverse connectivity solutions portfolio.
This will also offer Honeywell customers an additional option for Internet connectivity with the help of SmartSky’s new air-to-ground connectivity. As a matter of fact, the collaboration will enable airlines to cater to the increasing network requirements for passengers like conducting data transfers, running cloud-based applications, surfing the web and streaming videos.
Existing Business Scenario
Strength in the commercial aftermarket and sensing businesses is likely to boost Honeywell’s Aerospace revenues. Also, the company believes that solid demand for warehouse automation, sensing and IoT businesses will drive the Safety and Productivity Solutions’ revenues. Further, strong demand for commercial fire and security products, particularly in India and China, is likely to support the Building Technologies segment.
In the past three months, the Zacks Rank #2 (Buy) company's shares have gained 11.8% against 1% decline of the industry.
Moving ahead, Honeywell expects that greater operational excellence and share buybacks will drive profitability. For 2019, it anticipates earnings in the range of $7.90-$8.15 per share compared with previous guidance of $7.80-$8.10.
Other Key Picks
Some other top-ranked stocks from the same space are Carlisle Companies Incorporated (NYSE:CSL) , Federal Signal Corporation (NYSE:FSS) and United Technologies Corporation (NYSE:UTX) . While Carlisle sports a Zacks Rank #1 (Strong Buy), Federal Signal and United Technologies carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carlisle outpaced estimates thrice in the preceding four quarters, the average positive earnings surprise being 19.07%.
Federal Signal surpassed estimates in each of the preceding four quarters, the average positive earnings surprise being 21.75%.
United Technologies beat estimates in each of the preceding four quarters, the average positive earnings surprise being 12.85%.
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