Honeywell International Inc. HON has been chosen by Melton Hospital to manage the latter’s building automation systems to improve energy use and efficiency.
This Australia-based 274-bed hospital will be Victoria's first fully electric hospital and aligns with the region’s goal of achieving net-zero emissions by 2050. The facility will provide maternity, mental health, neonatal and radiology services as well as a 24-hour emergency department. It will also include an education hub for training healthcare professionals.
Per the 25-year deal, Honeywell will use its building management solutions, including Honeywell Forge Enterprise Performance Management software, to improve energy efficiency and security. The software uses machine learning to continuously monitor energy consumption, allowing the hospital to adjust settings for energy savings while maintaining air quality. By using Honeywell Forge, the Melton Hospital will be able to reduce unplanned energy expenses.
HON’s Zacks Rank & Price Performance
Honeywell currently carries a Zacks Rank #3 (Hold). The company is benefiting from strength in its commercial aviation aftermarket business, driven by solid demand in the air transport and business aviation markets.
In the past year, HON stock has gained 16.2% against the industry’s 5.1% decline.
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However, HON has been witnessing weakness in the warehouse and workflow solutions businesses due to lower demand for projects, which has been affecting the Industrial Automation segment's performance.
Stocks to Consider
Some better-ranked companies are discussed below.
Federal Signal Corporation FSS presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FSS delivered a trailing four-quarter average earnings surprise of 11.8%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal’s 2024 earnings has increased 3.1%.
Zurn Elkay Water Solutions Corporation ZWS presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 8.5%.
In the past 60 days, the Zacks Consensus Estimate for ZWS’ 2024 earnings has increased 2.5%.
Kadant Inc. KAI presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 17.2%.
The Zacks Consensus Estimate for KAI’s 2024 earnings has increased 1.8% in the past 60 days.
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Honeywell International Inc. (HON) : Free Stock Analysis Report
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Federal Signal Corporation (FSS) : Free Stock Analysis Report
Zurn Elkay Water Solutions Cor (ZWS) : Free Stock Analysis Report
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