Honeywell (HON) Stock Slides on Q2 Revenue Miss
NEW YORK (TheStreet) -- Shares of Honeywell (HON) - Get Report are down 2.96% to $115.15 in pre-market trade after the company reported lower-than-expected 2016 second quarter revenue.
The company reported revenue of $9.99 billion for the quarter. Wall Street had been looking for revenue of $10.13 billion.
Honeywell also reported earnings of $1.66 per share, topping analysts' estimates of $1.64 per share.
"Honeywell grew earnings 10% in the second quarter, capping off a strong first half of 2016," said CEO Dave Cote.
In the second quarter, Honeywell announced the acquisition of Intelligrated, a supply chain and warehouse technology company, for $1.5 billion. "This business complements our suite of transportation and logistics technologies," Cote said.
Honeywell is a Morris Plains, NJ-based technology and manufacturing company.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of A+.
The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: HON
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.