Honeywell Partners With SAMSUNG E&A to Offer Carbon Capture Solution

Honeywell International Inc. HON recently announced its partnership with SAMSUNG E&A to mutually market a solution designed for minimizing carbon emissions in the power plant sector throughout the world. The collaboration is in line with Honeywell’s commitment to expanding its portfolio to keep up with the energy transition megatrend.HON’s share price inched down 0.2% yesterday, eventually closing the session at $204.24.More on HON’s PartnershipThe collaboration will involve SAMSUNG E&A leveraging Honeywell's advanced solvent carbon capture technology to enable power plants to meet environmental regulatory compliances. The deployment of HON’s carbon capture technologies will enable SAMSUNG E&A to offer a viable and sustainable solution for reducing greenhouse gas emissions.Honeywell’s carbon capture, utilization and storage (CCUS) technologies help users to minimize carbon dioxide emissions during the transition from fossil fuels to lower-carbon energy sources. Between 2023 and 2030, HON expects its CCUS technologies to mitigate 320 million metric tons of carbon dioxide on a global basis.HON’s Zacks Rank & Price PerformanceHoneywell, with approximately $131.5 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is set to gain from strength in its commercial aviation aftermarket and original equipment. However, softness in its Industrial Automation segment remains a concern.Image Source: Zacks Investment ResearchIn the past six months, the company’s shares have gained 2.6% against the industry’s 4.5% decline.The Zacks Consensus Estimate for earnings is pegged at $10.14 per share for 2024, indicating a decrease of a penny from the 30-day-ago figure.Stocks to ConsiderSome better-ranked companies from the same space are discussed below.Federal Signal Corporation FSS currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Federal Signal delivered a trailing four-quarter average earnings surprise of 12.3%. In the past 60 days, the Zacks Consensus Estimate for FSS’ 2024 earnings has increased 5.2%.Vector Group Ltd. VGR presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 15.4%.In the past 60 days, the Zacks Consensus Estimate for VGR’s 2024 earnings has increased 5.2%.Parker-Hannifin Corporation PH currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 11.2%.In the past 60 days, the consensus estimate for Parker-Hannifin’s fiscal 2025 earnings has increased 1.3%.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Honeywell International Inc. (HON): Free Stock Analysis Report Parker-Hannifin Corporation (PH): Free Stock Analysis Report Federal Signal Corporation (FSS): Free Stock Analysis Report Vector Group Ltd. (VGR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks