U.S. Markets closed

New Maintenance Contract for Honeywell

Zacks Equity Research

Honeywell International Inc. (HON) recently secured a three-year maintenance and training contract worth $72.4 million from the U.S. Army. According to the deal, the company will provide mission-capable vehicles and essential training to operate and maintain heavy tactical vehicles under the U.S. Army Tank-automotive and Armaments Command (:TACOM) Heavy Tactical Vehicles Program.

Over the past 18 years, Honeywell Technology Solutions Inc. (HTSI) has been providing support to the heavy tactical wheeled vehicles program.  As per the contract, the company is required to provide Total Package Fielding in army modernization training to the U.S. Army.

Over the years, HTSI has achieved significant expertise in maintenance, repair and overhaul, and fielding and training for all kinds of military vehicles. Additionally, Honeywell will provide certified instructors to train army drivers to operate the vehicles and train army mechanics to service the vehicles. Honeywell will also equip its own employees with electronic technical manuals and schematics, making it easier for them to repair any defect before they hand over the vehicles to the army. The HTSI team will take appropriate action for every situation, ensuring maximum operational efficiency.

Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals and energy efficient products and solutions for homes, business and transportation. In the last reported quarter, Honeywell’s revenues remained flat year over year at $9.3 billion due to the prevailing macroeconomic challenges.

Honeywell currently has a Zacks Rank #2 (Buy). Other stocks that look promising and are worth a look are ITT Corporation (ITT), Crane Co (CR) and Macquarie Infrastructure Company LLC, Inc (MIC), each carrying a Zacks Rank #2 (Buy)

Read the Full Research Report on ITT

Read the Full Research Report on HON

Read the Full Research Report on CR

Read the Full Research Report on MIC

Zacks Investment Research

More From Zacks.com