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Dave Cote Featured on “Mad Money” From Honeywell’s 2016 Annual Investor Conference


Honeywell Chairman and CEO, Dave Cote, sat down with CNBC's Jim Cramer prior to Honeywell’s Annual Investor Conference in New York City on March 2, 2016. During the 19-minute, two segment interview, Cote reaffirmed the Company’s 2016 guidance and discussed the latest action and future growth of the Company.

During the first segment, Cote discussed the proposed Honeywell-United Technologies merger, how it would have benefitted both companies shareowners, and why we are no longer pursuing the deal. Cote stated that the Company’s core organic growth is expected to accelerate up to 5% in 2017, and Cramer agreed Honeywell has a very bright future alone.

In the second segment, Honeywell’s Investor Day technology displays fueled the conversation of the ‘New Honeywell’, which Cramer stated as, “I see an internet of things – Honeywell – I see devices that we only dreamed about, in terms of being handheld and coordinating with our residential. I also see devices that are clearly about sustainability and energy. This is about a Honeywell that’s addressing climate change long-term.”

Focusing on software opportunities for the Company, Cote expressed his excitement in the value of the recently acquired Elster – a leading provider of gas heating, controls, metering, and advanced technologies. Honeywell is also the first large western company to be entirely CMMI Maturity Level 5 Compatible, which improves software quality, user experience, and predictability of schedule and cost.

Cote sees great opportunities within the turbocharger industry as well, stating, “I think we’re still in the early stages when it comes to turbo chargers – it offers V8 power with V6 energy usage … As the world becomes wealthier and people get more cars, people are going to say ‘how do we use less energy to do this?’. Electric cars are interesting, but it’s not going to take 100% of the stock that’s out there. It’s just not. So, turbo is going to be a great industry for a long time. And we’re advantaged because a turbo is really just an offshoot of a jet engine. We are the only turbo manufacturer that has a jet engine business.”

Key areas of the Company's global growth, such as building controls, refining technologies, and airplane connectivity were also highlighted.