Honeywell Int'l, Inc. (HON) Message Board

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Non-Tech : Honeywell Int'l, Inc. (HON)

HON 196.93

+0.7%

Dec 24 9:30 AM EST

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From: JakeStraw	3/10/2011 9:38:15 AM
	of 58

CEO Interview: Dave Cote, Honeywell (HON) Honeywell (HON) has had one of the most bullish analyst meetings in ages, said Cramer, where the company laid out a five year forecast whereas in the past, management was unable to outline a plan more than a few months down the road. Honeywell is a play on multiple bull markets, including aerospace and energy conservation. The one-time cyclical play is now seeing growth all year round and has turned into a world-class industry leader. Dave Cote saw the recession coming and cut costs before the onslaught. Because the company was prepared for the worst, it is coming back with a vengeance, and is inexpensive, selling at a multiple of 13 with a 13% growth rate. Dave Cote explained that the company is able to make such an aggressive forecast because it now has the institutional capability. "I feel good about the whole machine right now. It is really working. It is really humming. It feels pretty darn good." Cote explained that the company has incredible divisions that transcend the U.S. GDP. "There is no such thing as a company that is not in a cycle. The question is how well you perform when you are in that cycle," and the last recession proved that Honeywell could not only survive, it can prevail. With the growth in emerging markets and rise in energy prices, Honeywell has "a multiplicity of macro trends that are growing in our direction...we are in the absolute sweet spot of growth." Cote used the example of Turbocharged engines as an area where Honeywell is taking charge and saving the customer energy. The engine has a smaller size and uses 25% less energy, but the U.S. is behind the rest of the world in adopting such an engine on a massive scale. Cramer congratulated Cote on Honeywell's strong performance and called him "the most bankable large cap CEO in the world today." seekingalpha.com

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