How do you explain this? HON stock will be at $250 before EOD, if you hold stock you should be in a very good position. We are adding headcount, sales are going up, etc. And yet, people are not happy - why is this happening? One would asssume that the stock price should reflect all the misery you find on employee discussion boards... I am confused?
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Thats because through your mandatory overtime and great efforts (which will be uncompensated and result in you being laid off anyways) Honeywell was able to buy back shares of its stock! Now that the stock price has gone up, the board will be handsomely rewarded while you will lose your job. You have 30 minutes to clear your desk. Security is on its way to escort you out.
And what did employees sacrifice for. I’ll tell you. Furloughs at the slightest hint of missing a quarter. No pay raises for a year are not the exception. You never make up the loss of a raise. The 401k lump sum means you miss any increase during the year. Add in the 9 box cr-p and I got out. (And how much of the stock increase was due to buy backs and not a well run business)
As you are not very bright let me explain.
The business is being sucked to the bones and manipulated to short term pump the stock price.
This in turn delivers very high rewards to the Executive Officers, it is not sustainable, they know this but what do they care they will be gone with colossal retirement pots.
I have never known this company to be as bad as it is now, customers hate us, I hate us! Other companies new and established know it and are quickly seeing the opportunities we are giving them. It is just the sheer size and legacy of Honeywell allowing it to survive for and unfortunately that alone will carry it another decade or two.
Employee happiness isn't correlated with nor influences an upward stock price. The upward stock price is caused by slashing headcount especially in the US and cannibalizing certain business units.
Just when you thought the HR Karens didn't have enough to do.....
You're not confused, you're clueless. Stock price doesn't have anything to do with low pay, pi$$ poor "benefits", greedy fools in management, and no opportunities to advance unless you're in the clique, and constant excuses for why people are treated like anything more than expendable numbers on a spreadsheet while the CEO slurps his $500 per bottle wine.
@1wpe+1blJOrQy Correct. I remember flipping Dot-Com IPOs in an E-Trade account. Those were the days.
The stock price has little to do with employees happiness.
I worked at Aero for 14 years and left 3 years ago after being told our group could no longer work from home. Even though most of us were hired to work from home.
The reasons I was not happy at HON were:
- no raises many a year. Lots of excuses for this.
- no bonus for engineers at all. I have worked at other big companies and HON was the only one not to offer a bonus.
- horrible 9 block evaluation system. Most demeaning and moral ki----g process I have ever seen.
- ridiculously expensive health insurance options and even more expensive if you and your spouse did not get blood work and body fat measurements done.
- the few times I visited a plant the offices, rest rooms and cafeterias were old and dirty. Everything looked stuck in the 70s.
- constant layoffs. Everyone was nervous all the time.
LOL. A "2nd wave" in the US would mean that the vaccine doesn't work, and that billions of $ were wasted, and we were lied to. That "2nd wave" in India and China started swelling before the vaccines were available, and in a lot of cases still is not available to the masses.
Stock price has no correlation with general employee happiness or enjoyment of their work - just how much perceived value the company has in generating revenue, the cogs in the machine be damned.
Look at Amazon. I hear it's a miserable place to work for the packers and delivery people, which is a considerable portion of their work force.
Honeywell was the only place I've worked where the 401k match was doled out in company stock, and only accessible if you hung around for 3 years, then they pulled the gotcha of a lump sum match if you were still employed on December 15.
As soon as I hit my 3 year anniversary, I immediately converted my Honeywell 401k stock to an s&p500 index fund.
My month to month income was dependent on Honeywell, there was no way in he-l I was going to wager my retirement money on the questionable behavior I saw from my coworkers and management.
To this day, I'm ashamed that even a portion of my s&p500 index fund has Honeywell stock in it - I am that pessimistic about the quality of Honeywell as a company and as a long term investment.
Get out as soon as you can, whether it's Honeywell stock or your job at Honeywell.
Honeywell PE = 34, Forward looking based on estimates = 27
Historical average PE for the SP500 roughly 15. Reversion to the mean will come some day.
Just a thought. Covid is pretty much gone, everything opening back up and looking good. Bear in mind that at the beginning they were talking about the 2nd wave. That may hit in the fall or maybe not. However, it is starting again in the UK , china and a couple of other places, and they say it is a stronger strain.
May be a good idea to keep your head down and start putting away some money in case it hits this fall, which may be what the old boys are doing. If you have some years with the company you have a better chance of staying employed. If you are a new hire you would probably be one of the first let go at another company. Haters will hate, but just putting out some food for thought.
Fall is a few months away and you may be in a good place to ride it out until it is clear whether a 2nd wave is coming or not.
things are just as great as you say. Just like 1999. Just like 2007. Just like 2018. The old timers remember when things were great. Until they weren't. They are smart enough to save for the downturn because once they retire there's no going back, and they are smart enough to save some extra for when that happens. Old timers, wise men....
Bottom line: as stock prices have gone up (with the help of heavy stock buy-backs), total compensation has steadily gone down. Few employees own substantial stock positions, matches in stock have decreased, and management has refused to give employee stock discounts. If you work for HON, there really isn’t much to celebrate.
Honeywell is ge.
Look at the max chart for ge and you can predict the future. We are in the first run up where acquisitions and cost cutting made everyone a genius. For ge it was the financial services business. For Honeywell it was oil. Then they sucked those business so thin they could not take a shock. We haven’t seen the shock yet. Government stimulus saved everyone this time around.
Personally I think inflation is the real disruption and COVID will be the trigger not the cause of the shakeup. Current stock prices are just showing the expectation that the dollar is going to be worth a lot less in the future. Company didn’t get better.. money got worse.
@xzw, aren't you a genius. No, just an ageist.
SS pays around 3k a month, for $36k a year, and it's taxed. Medicare ain't bad with a good supplement, but you still have to pay premiums. Half a mil house...almost becoming the norm these days. You gotta live somewhere, and rents are often higher than mortgages. And only half a mil in the 401k...not enough to live decently for the next 30 years, esp. if the economy tanks according to some predictions.
I hope you're not in a position that deals with money.
Dear Clueless,
HON, like much of the Fortune 500, is only riding the tsunami of free fiat $ being pumped into the system via the Feds over the last year. As many money managers are predicting, the game of musical chairs will be over soon enough and those in the middle income range will be burned badly -- as usual.
As for sales and headcount, what is that compared to? Last month or pre-COVID? If you have never heard of actual/true inflation or Jimmy Carter's "Misery Index" then you a lot of homework ahead of you. Anyone measuring their happiness and stability on their 401k is in for a serious wakeup call. The Roaring 20s are back and will soon turn into the next Great Depression...
*scroll
You ARE confused. That is not why we complain. Instead of dropping and running, acroll around for a while and see what the problems actually are.
I’m confused why the old timers haven’t retired considering they have pension and a 401k full of HON shares. Housing has recovered well beyond housing bubble prices. Why put up with the abuse when you’re a millionaire ($500K house + $500K 401K + Social Security + Medicare + Honeywell Pension)?
All time high???? Stock price has went down about $10 in the last week or so.
StockJury.com/HON
enter your opinion on the stock, it's anon