Honeywell (HON) Said to Win Multibillion Cockpit Contract from Embraer
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Price: $223.90 -1.71%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.2%
Revenue Growth %: -8.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.2%
Revenue Growth %: -8.2%
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Honeywell (NYSE: HON) is bouncing off of session lows Monday following reports the it might have landed a large fly-by-wire cockpit systems contract.
The WSJ notes that Embraer SA may have awarded Honeywell a $3 billion contract for the systems. Embraer plans to add the technology onto its E-170 and E-190 regional aircraft.
Honeywell has been the lead supplier to the Brazilian outfit, but recent execution issues and contract delays have called that relationship into question. Embraer plans to stick with Honeywell to benefit from cockpit commonality and new features that the company has promised.
Garmin (Nasdaq: GRMN) was also vying to land the contract.
An announcement is expected sometime Monday. Honeywell shares are down just under one percent.
The WSJ notes that Embraer SA may have awarded Honeywell a $3 billion contract for the systems. Embraer plans to add the technology onto its E-170 and E-190 regional aircraft.
Honeywell has been the lead supplier to the Brazilian outfit, but recent execution issues and contract delays have called that relationship into question. Embraer plans to stick with Honeywell to benefit from cockpit commonality and new features that the company has promised.
Garmin (Nasdaq: GRMN) was also vying to land the contract.
An announcement is expected sometime Monday. Honeywell shares are down just under one percent.
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