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Honeywell Launches New Online Store

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Honeywell’s online store

In a press release today, Honeywell (HON) announced the launch of its online store, Honeywell Marketplace. This online store aims to help enterprises find and buy innovative software solutions, technologies, and other services that will help to increase productivity and efficiency.

The site not only features solutions from Honeywell but also from dozens of third-party software vendors. For example, the site includes asset tracking, push-to-talk communications, password management for mobile devices, point-of-sale software for retailers, and medical tracking for hospitals. The online store could help to improve HON’s sales, and at the same time, it aims to enhance the customer experience.

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Peter Howes, president of Honeywell’s productivity products business, said, “In the past, IT managers would spend countless hours researching and evaluating specific enterprise software solutions to solve their business challenges. Today, we have streamlined that entire process – from searching to purchasing and deployment. Our customers want the same easy-to-use shopping and downloading options that they experience with consumer-focused mobile app stores.”

Stock update

At noon, HON was up by ~0.15% and was trading at $154.74. On a year-to-date basis, HON has gained 18.25%. HON has managed to outperform the S&P 500 (SPY), which has gained 12.3%. HON’s peers United Technologies (UTX), Textron (TXT), and Boeing (BA) have gained 19.7%, 18.5%, and 36.6%, respectively. HON’s 14-day relative strength index (or RSI) is at 67, which is very close to being oversold. Thus, investors need to be careful, as there could be some sell-off that might bring the stock price down.

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