Featured Company News - Honeywell and Lear Announce Collaboration; Set to Build Automotive Software Technology for Autonomous Vehicles
LONDON, UK / ACCESSWIRE / September 14, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Honeywell International Inc. (NYSE: HON) ("Honeywell"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=HON. The Company announced on September 12, 2017, a partnership with Lear Corp. (NYSE: LEA) pursuant to which the Companies will provide automotive software technology and infrastructure solutions to address the threats associated with emerging connected and autonomous vehicle development. Honeywell is a diversified technology and manufacturing leader, while Lear is one of the world's leading supplier of automotive seating systems and electrical distribution systems. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Announcement
Under the terms of the agreement and being global tier-1 suppliers to the automotive industry, the Companies will pair Honeywell's intrusion detection technology software and security operations centers with Lear's automotive electrical distribution systems and connected gateway expertise. The collaboration between Honeywell and Lear aims to provide automakers with an architecture to address vehicle prognostics and help ensure passenger safety and security.
The two Companies have developed an effective system to identify and validate software commands and data generated by more than 100 million lines of code, governing modern vehicle operation. Honeywell's software and global security centers monitor in-vehicle network communications. Similarly, Lear's portfolio includes electrical gateways and security modules which can be an effective solution to detect and report anomalies preceding a mechanical failure or the intentional hack of a vehicle.
According to Honeywell, there are more than a dozen attack surfaces which could act as point of entry for hacking into a passenger vehicle. Honeywell is a leading software developer that enables safety and cybersecurity solutions for a number of industries and is now extending its portfolio to connected and autonomous vehicle development. Approximately half of Honeywell's 23,000-strong global engineering team develops software. Honeywell's software enables real-time vehicle performance diagnostics that can deliver increased vehicle reliability and up to 5% reduction in warranty costs.
The Connected Vehicle Team
Honeywell recently announced the launch of its Connected Vehicle business enterprise to help global automakers with automotive connectivity, while ensuring vehicle integrity, safety, and security. The Company announced on September 12, 2017, that it has hired Cristina Segal, 51, as VP and General Manager of the Connected Vehicle team. Cristina will lead the Company's Connected Vehicle team in the development and implementation of end-to-end monitoring and development of management platforms to enable cybersecurity features and integrated vehicle health management.
Also, the Connected Vehicle team will offer global automakers and fleet managers with real-time health monitoring, diagnosis, and predictive maintenance solutions for connected and autonomous vehicle development. Segal holds a doctorate in Computer Science and AI (artificial intelligence) and an Engineering degree in Electronics and Communications from Bucharest Polytechnic University. Cristina, according to the Company, will leverage Honeywell's unmatched ability to link advanced software with hardware products to deliver enormous value to the original equipment manufacturers and aftermarket customers.
Last Close Stock Review
On Wednesday, September 13, 2017, the stock closed the trading session at $137.90, slightly down 0.56% from its previous closing price of $138.68. A total volume of 2.04 million shares have exchanged hands. Honeywell's stock price surged 2.73% in the last three months, 8.61% in the past six months, and 24.27% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 19.03%. The stock is trading at a PE ratio of 21.37 and has a dividend yield of 1.93%. At Wednesday's closing price, the stock's net capitalization stands at $105.38 billion.
At the closing bell, on Wednesday, September 13, 2017, Lear's stock climbed 1.13%, ending the trading session at $157.35. A total volume of 712.32 thousand shares have exchanged hands, which was higher than the 3-month average volume of 687.14 thousand shares. The Company's stock price soared 7.18% in the last three months, 6.17% in the past six months, and 37.52% in the previous twelve months. Moreover, the stock surged 18.87% since the start of the year. The stock is trading at a PE ratio of 10.46 and has a dividend yield of 1.27%. The stock currently has a market cap of $10.68 billion.
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