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Company Update: Honeywell International Inc (NYSE:HON) – Honeywell UOP Opens New Catalyst Production Line At Shreveport, La. Facility

[PR Newswire] – SHREVEPORT, La., June 14, 2016 /PRNewswire/ — Honeywell (HON) UOP today opened a new production line at its catalyst manufacturing facility in Shreveport, La. The $150 million investment will enable Honeywell UOP to produce a new range of catalysts for the oil refining industry at the facility, which employs 290 people. The new production line will manufacture catalysts for hydroprocessing, which removes impurities from fractionated crude oil and also makes transportation fuels. “This is Honeywell UOP’s fourth production line at Shreveport, giving us new capacity to meet increased demand in the industry for hydroprocessing catalysts,” said Ken Stacherski, vice president and general manager for Honeywell UOP’s Catalysts, Adsorbents and Specialties business. Read more on this. Honeywell International Inc. (HON) , with a current value of $87.67B, began trading this morning at $115.06. A quick look at the market, the company’s stock traded between $114.91 and $115.46 with the price of the stock fluctuating between $87.00 to $117.51 over the last 52 weeks. Honeywell (HON) shares are currently priced at 17.29x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.23x earnings multiple for the same period. And for income investors, the company pays shareholders $2.38 per share annually in dividends, yielding 2.04%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $1.64 per share, which would be $0.13 better than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $6.66 is a $0.56 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $10.13 Billion. If realized, that would be a 3.58% increase over the year-ago quarter. More recently, UBS Initiated HON at Neutral (Jan 22, 2015). Previously, Stifel Nicolaus Initiated HON at to Buy. The average price target for HON shares by the analysts covering the stock is $125.63, which is 9.19% above where the stock opened this morning. See more in (NYSE:HON) Similar Articles: Market Update: Honeywell International Inc (NYSE:HON) – New Honeywell Production Capacity In China To Support Breakthrough Coal-To-Plastics Technology Market Update: Honeywell International Inc (NYSE:HON) – Honeywell Completes Acquisition Of COM DEV International’s Space Hardware And Systems Business Stock Update: Honeywell International Inc (NYSE:HON) – Honeywell to Present at Cowen and Company Aerospace/Defense Conference & Transport One-on-One Forum
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