Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, May 7, 2021

Article Excerpt

HONEYWELL INTERNATIONAL INC., $228.79, symbol HON on New York, is a diversified technology firm operating in four segments: Aerospace (31% of sales); Performance Materials (28%); Safety and Productivity (25%); and Building Technologies (16%). On January 25, 2021, Honeywell announced that it would sell its performance and lifestyle footwear business to Rocky Brands (symbol RCKY on Nasdaq) for $230 million. The brands divested by Honeywell include The Original Muck Boot Company, XTRATUF fishing boots and deck shoes, Ranger, NEOS overshoes and Servus protective rubber boots. Honeywell will continue to manufacture industrial safety footwear under the Oliver, MTS, and Honeywell Bacou brands. That’s part of the company’s offerings of head-to-toe personal protective equipment. The company’s safety offerings include respiratory, hearing, eye and fall protection solutions as well as advanced gas detectors for industrial applications. In the three months ended March 31, 2021, Honeywell’s revenue fell 0.1%, to $8.45 billion from $8.46 billion a year earlier. Revenue was lower due to reduced sales at its Aerospace…

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