Industrials Weekly Review: Corning, Caterpillar and Honeywell
During the past week, Corning (NYSE: GLW) announced that Samsung will be using its latest Gorilla Glass on its newest smartphone. Caterpillar (NYSE: CAT) announced changes in its senior management positions, while Honeywell signed its first Middle East based maintenance plan for auxiliary power units on Boeing Business Jets. Below we give a quick rundown on the most notable events in the last week related to the companies.
Corning
On December 9, Corning announced that its Gorilla Glass 4 has been chosen by Samsung to be used as cover glass for its latest smartphone, the Galaxy Alpha. [1] Gorilla Glass 4 will add more durability to Galaxy Alpha’s display and, because of its 0.4mm thickness, will allow for a slimmer profile.
- Is An Earnings Beat In The Cards For Honeywell?
- Should You Pick Honeywell Stock After A 5% Fall This Year?
- Will Honeywell Stock See Higher Levels After A 15% Fall This Year?
- Which Is A Better Pick – Honeywell Stock Or Travelers?
- Which Is A Better Pick – Honeywell Stock Or Amgen?
- Which Is A Better Pick – Honeywell Or 3M Stock?
Corning’s stock declined by less than 1% over the week through Thursday. We currently have a price estimate of $20 for Corning, around 4% lower than its current market price. We estimate revenues of $10.1 billion and EPS of $1.53 for this year, about in line with consensus estimates.
Click here to see our complete analysis of Corning
Caterpillar
On December 10, Caterpillar announced that it will continue to maintain its quarterly cash dividend of 70 cents per share. [2] This helps reassure investors that despite its top line suffering from weakness in the mining equipment end market, the company has a strong bottom line and balance sheet.
On December 11, Caterpillar announced that Julie Lagacy will become the company’s Chief Information Officer and vice president for its Global Information Services division and Mike DeWalt will become vice president of its Finance Services division. [3] Caterpillar also appointed a new vice president, Doug Hoerr, for its Strategic Services division.
Caterpillar’s stock declined 6% over the week through Thursday. We currently have a price estimate of $110 for Caterpillar, around 19% higher than its current market price. We estimate revenues of $55.9 billion, compared to consensus estimates of $55 billion, and EPS of $6.43 for this year, compared to consensus estimates of $6.56.
Click here to see our complete analysis of Caterpillar
Honeywell International
On December 8, Honeywell’s Aerospace business unit signed an Auxiliary Power Unit Maintenance Plan (AMP) with an undisclosed Middle East based Boeing Business Jet operator. This is a first for Honeywell Aerospace in the region. [4] The AMP provides fixed rate servicing, repair and spares for Honeywell’s 131-9B Auxiliary Power Unit, which is the standard APU used on all Boeing 737NG aircraft.
Honeywell’s stock declined around 2% over the week through Thursday. We currently have a price estimate of $106 for Honeywell, around 8% higher than its current market price. We estimate revenues of $40.3 billion and EPS of $5.56 for this year, about in line with consensus estimates.
Click here to see our complete analysis of Honeywell
View Interactive Institutional Research (Powered by Trefis):
Global Large Cap | U.S. Mid & Small Cap | European Large & Mid Cap
More Trefis Research
- Corning Collaborates with Samsung to Slim the New Galaxy ALPHA Smartphone with Gorilla Glass 4, December 9, 2014, www.corning.com [↩]
- Caterpillar Inc. Maintains Dividend Rate, December 10, 2014, www.caterpillar.com [↩]
- Caterpillar Announces Officer Changes and Appointment of New Vice President, December 11, 2014, www.caterpillar.com [↩]
- Honeywell signs first boeing business Jet APU Maintenance Plan customer at MEBA 2014, December 8, 2014, www.zawya.com [↩]