Latest news with #HoneywellAerospace
Associated Press
19-03-2025
- Business
- Associated Press
Ron J. Rich, Former Honeywell Aerospace Executive, Joins Board of Directors at BrooQLy (BRQL) DBA Dynamic Aerospace Systems (DAS)
PHOENIX, ARIZONA / ACCESS Newswire / March 19, 2025 / BrooQLy Inc. (OTC:BRQL) DBA Dynamic Aerospace Systems is proud to announce the appointment of Ron J. Rich to its Board of Directors. Mr. Rich brings decades of aerospace and engineering leadership experience, with a distinguished career at Honeywell Aerospace, where he played a pivotal role in advancing propulsion systems, engineering solutions, and strategic industry partnerships. At Honeywell Aerospace, Mr. Rich held multiple leadership positions, including Vice President of Propulsion Systems, where he spearheaded initiatives to enhance engine performance and reliability. His tenure at Honeywell also included driving research collaborations, such as the landmark agreement with the University of Arizona, designed to streamline aerospace research and development. His dedication to advancing aerospace technology and engineering education earned him the Circle of Excellence Award from the university's Engineering Design Program in 2019. Currently serving as Vice President of the Engineering Solutions Business at Intertec International, Mr. Rich continues to lead innovation in engineering services, bringing valuable insight and expertise to Dynamic Aerospace Corporation. In a group statement, the Board of Directors announced, 'The addition of Ron's extensive experience in aerospace innovation, strategic leadership, and industry academic partnerships will be an invaluable asset to our company. Further, his background in propulsion systems and engineering excellence aligns with our mission to advance aerospace technologies. We are thrilled to have him join our Board as we continue to drive innovation and growth.' Mr. Rich's appointment underscores Dynamic Aerospace System's commitment to assembling an industry-leading board that brings together deep aerospace expertise and forward-thinking leadership. About BrooQLy Inc. DBA Dynamic Aerospace Systems BrooQLy Inc. DBA Dynamic Aerospace Systems (DAS) is a pioneering aerospace company focused on cutting-edge technology, autonomous systems, and next-generation aerospace solutions. With a commitment to excellence, collaboration, and innovation, DAS aims to redefine the future of aerospace and aviation technologies. For media inquiries, please contact: Shannon Rigney VP Forward-Looking Statements: Certain statements and information in this press release may constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words 'will,' 'plans,' 'intends,' 'targets,' 'expects,' 'outlook,' 'believes,' 'anticipates' or similar expressions. Forward-looking statements may include, without limitation, financing plans; business strategies and expectations; operating plans;; capital and other expenditures; competitive positions; and growth opportunities for existing products. Actual results could differ materially from the views expressed. The information disclosed in this press release is made as of the date hereof and reflects BrooQLy's most current assessment of its historical performance and future plans. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although management of BrooQLy believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The Company expressly disclaims any obligation or intention to update or alter any forward-looking statements, whether as a result of new information, future events, or otherwise.
Yahoo
13-03-2025
- Business
- Yahoo
The Nasdaq Just Hit Correction Territory: 2 Pullback Stocks to Buy and Hold for a Decade
Broad-based market sell-offs are often great times to initiate long-term investing positions. In fact, they can give investors just the nudge they needed to buy stocks that already looked like great values before the market declined. With the Nasdaq Composite (NASDAQINDEX: ^IXIC) falling into correction territory, I think blue-chip industrial conglomerate Honeywell International (NASDAQ: HON) and advanced materials company Hexcel (NYSE: HXL) are terrific stocks to buy now. Having already announced plans to spin off one segment, Honeywell management went a step further last month and said the company would split into three separate businesses, all of which will be publicly traded. There's a case for all of them to outperform in the future as individual companies -- not based on a sum-of-the-parts evaluation, but because some of Honeywell's peers have already set a profitable example. With the advanced materials spinoff already announced, the focus is on the two other businesses, Honeywell Aerospace and Honeywell Automation. Management names GE Aerospace, RTX, and TransDigm as its peers, and it's noticeable that all three have undergone significant corporate activity in recent years. GE Aerospace became an independent company last year, and RTX's commercial aerospace businesses are the result of mergers of the former United Technologies aerospace business, Rockwell Collins, and the commercial aerospace businesses of Raytheon. TransDigm's business model relies heavily on its strategy of acquiring other companies. As a stand-alone company, Honeywell Aerospace will have much more flexibility to pursue acquisitions that will build scale like its peers. As such, it can add complementary solutions to its portfolio of aerospace solutions, including avionics, auxiliary power units, communications, and propulsion systems. It's a similar story with Honeywell Automation, a combination of industrial automation and building automation. Emerson Electric, pure-play automation company Rockwell Automation, and Johnson Controls are cited as peers. Emerson has been fundamentally restructured in recent years to focus on automation and adjacent markets in industrial software and automated test and measurement. Management sold its climate technologies business, acquired NI (test and measurement systems) in 2023, and will acquire the remaining shares it doesn't own in industrial company AspenTech this year. In building automation, Johnson Controls is selling its residential and light commercial HVAC business to Bosch as it looks to focus on its core commercial HVAC and building controls business. The pattern is clear, and Honeywell's big breakup will create an opportunity for each new company to have its own access to capital and management resources, so its leadership can create more focused companies in the manner of their peers without being encumbered as part of a conglomerate. The sell-off in the stock gives investors a better opportunity to buy into the long-term value creation opportunity. Speaking of Honeywell Aerospace and potential acquisition targets, I've long felt that the aerospace-focused advanced materials company Hexcel would be an ideal fit for Honeywell. That said, the stock is highly desirable to buy in its own right. It's no secret that Hexcel's advanced graphite composites (lighter and stronger than traditional materials like aluminum) are the future of the aerospace industry. Each generation of new airplanes developed by Boeing, Airbus, and other airplane manufacturers (including business jets) has more composite content. Consequently, Hexcel has long-term growth prospects from an increase in the number of new airplanes produced and the increasing composite content on every newer plane. It's a compelling mix, and it's also why Hexcel stock has historically tended to command a valuation premium. However, it's been a difficult few years for the company as both Boeing and Airbus have fallen behind their intended production schedules. This has hit Hexcel's revenue and margin lines precisely at a time when the company was gearing up to increase production. As CEO Tom Gentile noted on the recent earnings call, "production levels in 2024 were only 68% of 2018 levels." That said, this is a temporary delay, and Boeing and Airbus will do everything they can to ramp up production over time. Moreover, the decline in the valuation is such that investors can buy into the stock at 19 times its estimated 2025 free cash flow -- an excellent valuation for a company with such superb long-term growth prospects. Before you buy stock in Honeywell International, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Honeywell International wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $655,630!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 163% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of March 10, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Emerson Electric and Rockwell Automation. The Motley Fool recommends GE Aerospace, Hexcel, RTX, and TransDigm Group. The Motley Fool has a disclosure policy. The Nasdaq Just Hit Correction Territory: 2 Pullback Stocks to Buy and Hold for a Decade was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Honeywell splits into 3 companies; aerospace headquarters to stay in Phoenix
Honeywell Aerospace will become a separate company with its headquarters still in Phoenix, officials confirmed after details of its parent company's breakup were announced Thursday morning. Honeywell International Inc. planned to spin off its aerospace and automation technologies, the company said. The industrial conglomerate already had announced it would spin off its advanced materials arm. The moves would create three separate companies. Honeywell International Inc. has 7,111 employees in Arizona, according to The Arizona Republic's Republic 100 data of the largest employers in the state, making it the 25th largest employer here. The company plans to complete the separation by the second half of 2026, and it will be done in a manner that is tax-free to Honeywell shareholders, Vimal Kapur, chairman and CEO announced. Each of the three companies would be publicly listed. "The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies, and unlock significant value for shareholders and customers," Kapur said in a statement. "Our simplification of Honeywell has rapidly advanced over the past year, and we will continue to shape our portfolio to create further shareholder value. We have a rich pipeline of strategic bolt-on acquisition targets, and we plan to continue deploying capital to further enhance each business as we prepare them to become leading, independent public companies," he added. Honeywell Aerospace creates technology used in commercial and defense aircraft, including propulsion, cockpit and navigation systems and auxiliary power systems. According to Honeywell, it had $15 billion in revenue in 2024. The spinoff could create future job opportunities for employees as the individual companies grow, a company representative said. This is a developing story. Check back here for updates. Reach the reporter at cvanek@ Follow her on X, formerly Twitter: @CorinaVanek. This article originally appeared on Arizona Republic: Honeywell to split into 3 companies with Phoenix aerospace HQ to stay
Yahoo
06-02-2025
- Business
- Yahoo
Why legendary industrial giant Honeywell is breaking up
Industrial giant Honeywell (HON) will be getting smaller. Honeywell ended months of speculation on Thursday by announcing it would split into three listed companies: Honeywell Automation, Honeywell Aerospace and Advanced Materials. The automation business will stay focused on building that technology, while aerospace is dedicated to tech for plane cockpits, and advanced materials covers solutions for sectors such as healthcare. The separation is expected to happen in the second half of 2026. "The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies, and unlock significant value for shareholders and customers,' Honeywell chair and CEO Vimal Kapur said in a statement. Honeywell shares fell almost 3% in pre-market trading as investors digested the news. For Kapur and Honeywell, the news is a defining moment. Kapur joined Honeywell in 1989, rising through the ranks of the building automation business and assuming the CEO position in June 2023. He added the role of chairman in June 2024. He has been jumping headfirst into a complete overhaul of a company with roots in the thermostat business, dating back to 1886. Honeywell has become a huge enterprise through decades of acquisitions, starting with the 1999 merger with Allied Signal. At a time when industrial conglomerates with economy of scale are no longer rewarded with high valuations, Kapur said in October 2024 that Honeywell would spin off its advanced material business. The new pubic company is slated to begin trading at the end of 2025 or early 2026. It counts about $3.8 billion in annual revenue. This came after an otherwise successful breakup of industrial legend General Electric (GE) in 2024 into three independent companies. "I think the biggest change I'm driving is how we make it a growth-oriented company. Part of that is how we transform our portfolio so that it's naturally pivoted towards end markets — products which are growth-oriented, but also change our own capabilities on new product development and innovation," Kapur told me at the World Economic Forum (WEF) in late January. He said at the time a decision on Honeywell's fate would be revealed on Feb. 6. The operational upheaval at Honeywell comes amid pressure from activist investor Elliott Management, which has a stake of about $5 billion. The firm disclosed its investment in November. "With today's action, Honeywell will be separating its Automation and Aerospace businesses into two market-leading enterprises poised for sustained growth and value creation,' said Elliott partner Marc Steinberg and managing partner Jesse Cohn in a statement. 'The enhanced focus, alignment, and strategic agility enabled by this separation will allow Honeywell to realize the opportunity for operational improvement and valuation upside. We look forward to continuing to support Vimal and the management team as they execute on the separation and deliver significant long-term value to Honeywell's shareholders.' While the Elliott did lean on Honeywell, interactions between the two were friendly from the get-go, according to a source. For example, Elliott didn't put forth board members, as it did in its campaign against airline Southwest (LUV). JPMorgan industrials analyst Stephen Tusa estimates Honeywell could be worth $330 a share if broken up. The stock currently trades at about $212. A source familiar with the transaction tells me the aerospace business alone could fetch a $100 billion market cap. Honeywell's total market cap stands at $144 billion, according to Yahoo Finance data. "So our processes and operating system works, but everything at a certain point gets mature, and there's an opportunity to relook at things, which I think is a fair question," Kapur said at WEF. Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Sign in to access your portfolio
