GE), Danaher (DHR) and United Technologies (UTX).’ data-reactid=”19″>Honeywell’s stock has popped 28% this year, almost two times greater than the return for the Dow Jones Industrial Average. The stock has also narrowly outperformed the industrial-minded companies that Honeywell is normally compared to on Wall Street: General Electric (GE), Danaher (DHR) and United Technologies (UTX).
The company’s second quarter organic sales rose a solid 5%, with gains across all business segments. Operating profit margins rose in every segment except for safety and productivity solutions. In almost all cases, new technologies in each segment were highlighted by executives as the drivers of the strong quarter.
Honeywell slightly lifted its full year organic sales and earnings per share guidance.
“Bottom line is that this quarter typifies why you buy Honeywell,” Goldman Sachs analyst Joe Ritchie wrote after the quarter. “At a time when the Multis [industrials] are facing a challenging backdrop as we previewed in second quarter EPS preview: shuffling ratings for rocky road ahead, Honeywell delivered a beat-and-raise. In our view, this highlights the strength of the Honeywell business model and supports Honeywell’s status as one of the best executors in this space.”
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