Market Update: Honeywell International Inc (NYSE:HON) – Honeywell Acquires Remaining 30 Percent Interest in UOP Russell LLC

[PR Newswire] – DES PLAINES, Ill., Jan. 6, 2016 /PRNewswire/ — Honeywell (HON) announced today that it has acquired the remaining 30 percent stake in UOP Russell LLC, which develops technology and manufactures modular equipment to process natural gas, for approximately $240 million. In 2012, Honeywell acquired a 70 percent stake in the Thomas Russell Co. to form UOP Russell, which became part of Honeywell UOP. The parties agreed to a mechanism for Honeywell to acquire the remaining stake within three years of closing. Read more on this. Honeywell International Inc. (HON) , currently valued at $78.45B, finished at $103.41. Looking at today’s trading action, the company’s one day range from $101.56 to $102.14 with a one year range of $87.00 to $107.41. HON shares are currently priced at 16.95x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.58x earnings multiple for the same period. The company pays shareholders $2.38 per share annually in dividends, yielding 2.30%. According to a consensus of 18 analysts, the earnings estimate of $1.59 per share would be $0.16 better than the year-ago quarter and a $0.05 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $6.10, which would be a $0.54 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $9.99 Billion. If reported, that would be a 2.73% decrease over the year-ago quarter. Recently, UBS Initiated HON at Neutral (Jan 22, 2015). Previously, Stifel Nicolaus Initiated HON at to Buy. The average price target for HON shares is $115.15, which is 11.35% above where the stock opened this morning. See more in (NYSE:HON) Similar Articles: Market Update: Honeywell International Inc (NYSE:HON) – Honeywell Completes Acquisition of Research Chemicals Business from Sigma-Aldrich Market Update: Honeywell International Inc (NYSE:HON) – Honeywell To Acquire COM DEV International’s Satellite Equipment Business Company Update: Honeywell International Inc (NYSE:HON) – PennTex Midstream Partners, LP Starts Second Honeywell UOP Russell Modular Gas Processing Plant