UPDATE: Honeywell Announces $5B Share Buyback Program

Honeywell

announced today that its Board of Directors has authorized the company to repurchase up to $5 billion of its common stock as part of its cash deployment strategy. The company has a track record of successfully redeploying its cash flow from operations through growth investments in each of its businesses, adding attractive adjacencies through acquisitions, increasing its dividend annually, as well as returning cash to shareholders by way of share repurchases.  Honeywell intends to repurchase outstanding shares from time to time in the open market using cash flow generated by its operations.