Dave Cote Appears on Mad Money From Honeywell's 2015 Annual Investor Conference
March 05, 2015
Honeywell Chairman and CEO Dave Cote appeared on CNBC’s Mad Money with host Jim Cramer from Honeywell’s Annual Investor Conference in New York City on March 4, 2015 to discuss Honeywell’s robust new product pipeline, our expertise in software, focus on connectivity throughout the portfolio and Honeywell’s robust capital deployment plan.
Referring to Honeywell as “one of the most clued-in companies on earth when it comes to the state of global economy,” Cramer spoke with Cote about the exciting times ahead for the company.
“When I go back 13 years ago, we had just an empty pipeline. Now every single business has great new products, and a lot of it is software based. Because, while we have 22,000 engineers in total, and you think of all of our stuff shopping in a box – you know, engines, turbochargers, chemicals - More than half of those 22,000 engineers are developing software. You’ll see there are a lot software-based products that we have coming that are really pretty cool I think,” Cote said
Addressing new trends in connectivity, Cote said, “At the end of the day, everything is going to be end up connected in some way. I think we’re being pretty smart about how we’re doing it, not just with the plane, but the home, building worker, factory. It’s the right kind of trend. I just think you have to be smart about it, which we’re doing.”
Dave also highlighted Honeywell’s new capital deployment plan and the company’s robust M&A strategy.
“Versus where we were a long time ago, we generate a lot of cash now,” he said. “We’re going to be increasing dividend greater than earnings rate, and we still have a lot of fire power left for M&A and stock repurchases.”
Watch the full video.