Thread regarding Honeywell International Inc. layoffs

Dividen increase & now not planning to spin off its largest single business

Saw the below posted on Yahoo Finance today:

Sept 29 (Reuters) - U.S. industrial conglomerate Honeywell International Inc announced plans to increase its annual divided by 12 percent on Friday as it resists pressure from investors to part with its aerospace unit.

Sources told Reuters the company was now not planning to spin off its largest single business and would sell only some limited assets, potentially including its production of turbochargers for cars.

Activist investor Daniel Loeb and his hedge fund Third Point LLC have argued Honeywell is undervalued compared to peers in industrial automation and that spinning off all of the aerospace business would create $20 billion in shareholder value.

Honeywell, whose shares were little changed in morning trading, said in a statement it was increasing its regular cash dividend to $2.98 per common share, from $2.66 per common share, as of the fourth quarter but declined to comment further on any plans to sell assets.

by long gone
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Post ID: @OP+PvnvYFw
Comment! It's anonymous!

9 replies (most recent on top)

Wil turbos be a growth market when electric is the wave of the future? How long before they go down in value? Easy sell now?

Counter UTC by buying GE large engines?

Wonder what is on the block to sell and buy to keep CEO with 100M compamy?

Ego may matter .

by Anonymous
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Post ID: @5wsn+PvnvYFw

Upper management already sold their Grandparents for a nickel, so they are running low on assets to dump

by Anonymous
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Post ID: @5psv+PvnvYFw

Now that they're keeping AERO till it sinks completely, I expect some furloughs at a minimum but a RIF would be great too. I think furloughs are a great way to drive shareholder value and really show wall street that HON is a profitable, very productive company with a dedicated and driven workforce. That said, a furlough the week of or the week after Thanksgiving would be STELLAR. Please take note, HR or ALT. Please arrange a 1 week minimum furlough for us around the upcoming holiday season.

by Anonymous
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Post ID: @4eor+PvnvYFw

It is all about creating cash for buybacks and dividends. Fewer people more cash. Sell designs and businesses to raise cash. It's what a lot American companies do these days. Good for the top guys. They don't care about tomorrow, the future is now. Still seems like there is room for this game to go on for a while longer - into 2018. Can't go on forever.

by Anonymous
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Post ID: @2dtp+PvnvYFw

760 million shares outstanding times 32 cents = $243 million

by Anonymous
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Post ID: @1nml+PvnvYFw

This was probably all a calculated play from Third Point; rock the boat a little and Honeywell coughs up an increased dividend and all the share holders are happier. While all this is going on, we continue to loose talent and experience to other employers who pay better than Honeywell.

by Anonymous
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Post ID: @1toq+PvnvYFw

Don't sell turbo! Continue to have aero guys work with turbo guys and vice versa on how to have components run hotter and hotter and at higher compression economically. That's where true organic growth in the future will come from.

by Anonymous
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Post ID: @1tie+PvnvYFw

That's Honeywell. Increasing share dividends while forcing staff on Furlough. Would be good to see the savings from the Furloughs and the actual cost of increased dividends.

by Anonymous
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Post ID: @1rls+PvnvYFw

Look for Honeywell to keep the "software side" of Aerospace & sell the Engines and systems side otherwise known as ES&S

by Anonymous
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Post ID: @kkr+PvnvYFw

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