Today's Research Reports on Stocks to Watch: Honeywell International and General Electric Company
NEW YORK, NY / ACCESSWIRE / October 10, 2017 / Shares of Honeywell inched lower at the close on Monday, but still hit a new high during intra-day trading after encouraging news surfaced over the weekend about the company possibly selling off certain non-core assets and Honeywell forecasting 8,300 new business jet deliveries from 2017 to 2027. Shares of General Electric Company also slid after some senior management changes had traders concerned.
RDI Initiates Coverage on:
Honeywell International Inc.
http://www.rdinvesting.com/report/?ticker=HON
General Electric Company
http://www.rdinvesting.com/report/?ticker=GE
Honeywell International Inc.'s shares closed in the red, but it was a modest close down at -0.01%. Despite closing in red territory, the stock hit a brand new high of $145.30 during intra-day trading. It was revealed by Reuters over this past weekend that the company is planning to sell off certain non-core assets and will create at least two new publicly listed companies. It was on Sunday that the company revealed that it is expecting 8,300 new business jet deliveries worth $249 billion from this year to 2027. The company's president of Americas Aftermarket for Honeywell Aerospace, Ben Driggs, commented, "Declining used aircraft prices, continued low commodities prices, and economic and political uncertainties in many business jet markets remain as near-term concerns for new jet purchases, leading to a modest growth in 2018."
Access RDI's Honeywell International Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=HON
General Electric Company's shares closed down 3.94% on Monday with a little over 140 million shares traded. Shares were sinking after it was revealed that the company had some senior management shake-ups. General Electric's chief financial officer Jeff Bornstein surprisingly retired while Edward Garden, the founding partner of activist hedge fund Trian Partners, will be taking a seat on the company's board. He will be taking Robert Lane's place who is retiring from GE's board after 12 years. With the stock down 25% this year, and yesterday's drop the biggest in almost two years, traders couldn't help but be concerned with such a big departure of the company's CFO. A JPMorgan executive director, Stephen Tusa, commented, "While not an implausible event, we believe the management changes at GE reinforce our view that core fundamental challenges are worse than consensus is currently discounting, with a new wrinkle added around possible outcomes from events this fall, almost none of which are positive." Tusa has an "underweight" rating on GE shares. Volume for the stock was significant yesterday at 140 million compared to an average of just under 39 million shares.
Access RDI's General Electric Company Research Report at:
http://www.rdinvesting.com/report/?ticker=GE
Our Actionable Research on Honeywell International Inc. (NYSE: HON) and General Electric Company (NYSE: GE) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
