Air Products & Chemicals Stock (NYSE: APD)

Air Products & Chemicals (NYSE:APD) Stock, Quote.Headers.trade-ideas

Air Products & Chemicals

Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. The company is the largest supplier of hydrogen and helium in the world. It has a unique portfolio serving customers in a number of industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated $12.6 billion in revenue in fiscal 2023.

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Air Products and Chemicals, Inc. (NYSE: APD) is expected to gain from its project investments, productivity actions and new business deals amid the softness in China and Europe.

The company&#39;s shares have lost 9.6% over a year compared with a 10.6% decline of its industry.

Here&#39;s Why You Should Hold Onto Air Products Stock for Now

Air Products and Chemicals, Inc.&#39;s (NYSE: APD) shares have popped 19.9% over the past six months. The company has also outperformed its industry&#39;s rise of 4.1% over the same time frame. APD has also topped the S&amp;P 500&#39;s roughly 11.2% rise over the same period.

Air Products Up 20% in 6 Months: What&#39;s Driving the Stock?

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Air Products Posts Upbeat Earnings, Joins Meta, Exact Sciences, Shake Shack, Clearwater Analytics And Other Big Stocks Moving Higher On Thursday

Air Products and Chemicals, Inc. Common Stock

Air Products & Chemicals Inc

Applied DNA Sciences, Inc. - Common Stock

Applied DNA Sciences Inc

Air Products and Chemicals, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/apd#NYSE">APD</a>) is expected to gain from its project investments, productivity actions and new business deals amid the softness in China and Europe.
The company&#39;s shares have lost 9.6% over a year compared with a 10.6% decline of its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/96/77101.jpg?v=847617279" />
Image Source: Zacks Investment Research
Let&#39;s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.
&nbsp;
<h2>High-return Projects and Productivity Actions Aid APD Stock</h2>
Air Products is well-placed to benefit from its investments in high-return industrial gas projects and productivity measures. It remains focused on its gasification strategy and is executing its growth projects. These projects are expected to be accretive to earnings and cash flows.
APD is realizing the benefits of the completion of the second phase of the Jazan project in Saudi Arabia. The company has a total available capacity to deploy (over fiscal 2024-2033) $30.8 billion in high-return investments aimed at creating significant shareholder value.
Air Products is also driving productivity to improve its cost structure. It is seeing the positive impacts of its productivity actions. Benefits from additional productivity and cost improvement programs are likely to support its margins moving ahead. The company also remains focused on improving pricing amid an inflationary environment.
The company also remains committed to maximizing returns to shareholders leveraging strong balance sheet and cash flows. Air Products&#39; board, in January 2024, increased its quarterly dividend to $1.77 per share. This marked the 42nd straight year of dividend increase. APD paid roughly $1.5 billion in dividends to shareholders in 2023. It expects to return roughly $1.6 billion to shareholders through dividends in 2024.
<h2>Softness in China &amp; Europe a Worry for Air Products</h2>
The slowdown in China and Europe may affect APD&#39;s business in these regions. The sluggish China economy is impacting volumes in the Industrial Gases - Asia segment. A slower economic recovery in China and the softness in electronics may continue to affect the segment&#39;s volumes.
Air Products is also seeing weak demand for merchant products in Europe. Its volumes in Europe rose modestly year-over-year in the fiscal third quarter as the contribution of the new assets in Uzbekistan offset weaker merchant volumes. The lack of growth in industrial output in Europe is a concern for the near term.
<div class="chart_embed">
<h3>Air Products and Chemicals, Inc. Price and Consensus</h3>
<img alt="Air Products and Chemicals, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/3f/1725958852.png" style="height:265px; width:590px" title="" />
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
</div>
<h2>Stocks to Consider</h2>
Better-ranked stocks in the Basic Materials space are, Hawkins, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hwkn#NASDAQ">HWKN</a>), Element Solutions Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/esi#NYSE">ESI</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), each sporting a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Hawkins&#39; current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from year-ago levels. The Zacks Consensus Estimate for HWKN&#39;s current fiscal-year earnings has increased 12.8% in the past 60 days. The stock has rallied around 101% in the past year.
The consensus estimate for Element Solutions&#39; current-year earnings has increased by 0.7% in the past 60 days. ESI beat the consensus estimate in three of the last four quarters while delivering in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of around 3.8%, on average.
The Zacks Consensus Estimate for Eldorado Gold&#39;s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 64% in the past year.
<a href="https://www.zacks.com/stock/news/2333874/here-s-why-you-should-hold-onto-air-products-stock-for-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2333874">To read this article on Zacks.com click here.</a>

Here's Why You Should Hold Onto Air Products Stock for Now

Avoiding CO2 Emissions Equivalent To 80,000 Households Over Agreement Duration

Air Products San Fu Signs 10-Year Solar Power Purchase Agreement With Tatung Forever Energy To Support Decarbonization Of Taiwan's Industrial Gases Sector

Air Products and Chemicals, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/apd#NYSE">APD</a>) shares have popped 19.9% over the past six months. The company has also outperformed its industry&#39;s rise of 4.1% over the same time frame. APD has also topped the S&amp;P 500&#39;s roughly 11.2% rise over the same period.
Let&#39;s take a look into the factors that are driving this Zacks Rank #3 (Hold) stock.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/bc/75500.jpg?v=555085295" />
Image Source: Zacks Investment Research
<h2>What&#39;s Going in APD&#39;s Favor?</h2>
Forecast-topping earnings performance in the fiscal third quarter and upbeat prospects have contributed to the rally in the company&#39;s shares. Air Products&#39; earnings from continuing operations for the third quarter rose to $3.13 per share from $2.67 in the year-ago quarter.
Adjusted earnings per share of $3.20 topped the Zacks Consensus Estimate of $3.04. APD continues to expect fiscal 2024 adjusted earnings per share of $12.20-$12.50, suggesting a 6-9% increase from the previous year.
Air Products is gaining from its investments in high-return industrial gas projects and productivity measures. It remains focused on its gasification strategy and is executing its growth projects. These projects are expected to be accretive to earnings and cash flows. The company has a total available capacity to deploy (over fiscal 2024-2033) $30.8 billion in high-return investments aimed at creating significant shareholder value.
APD is also driving productivity to improve its cost structure. It is seeing the positive impacts of its productivity actions. Benefits from additional productivity and cost improvement programs will likely support its margins. The company also remains focused on improving pricing amid an inflationary environment.
The company remains committed to maximizing returns to shareholders leveraging strong cash flows. Air Products&#39; board, in January 2024, increased its quarterly dividend to $1.77 per share. This marked the 42nd straight year of dividend increase. The company paid roughly $1.5 billion in dividends to shareholders in 2023. APD expects to return roughly $1.6 billion to shareholders through dividends in 2024.
<div class="chart_embed">
<h3>Air Products and Chemicals, Inc. Price and Consensus</h3>
<img alt="Air Products and Chemicals, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/42/1724758660.png" style="height:265px; width:590px" title="" />
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
</div>
<h2>Stocks to Consider</h2>
Better-ranked stocks in the Basic Materials space are Newmont Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>), Element Solutions Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/esi#NYSE">ESI</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), each sporting a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Newmont&#39;s current-year earnings is pegged at $2.82, indicating a rise of 75.2% from year-ago levels. The Zacks Consensus Estimate for NEM&#39;s earnings has increased 16% in the past 60 days. The stock has rallied around 34% in the past year.
The consensus estimate for Element Solutions&#39; current-year earnings has increased by 0.7% in the past 60 days. ESI beat the consensus estimate in three of the last four quarters while delivering in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of around 3.8%, on average.
The Zacks Consensus Estimate for Eldorado Gold&#39;s current-year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 93% in the past year.
<a href="https://www.zacks.com/stock/news/2327681/air-products-up-20-in-6-months-what-s-driving-the-stock?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2327681">To read this article on Zacks.com click here.</a>

Air Products Up 20% in 6 Months: What's Driving the Stock?

16 analysts have shared their evaluations of Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $297.75, along with a high estimate of $340.00 and a low estimate of $268.00. Observing a 8.35% increase, the current average has risen from the previous average price target of $274.81. 
<img src="https://www.benzinga.com/files/images/story/2024/1724158845_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Air Products &amp; Chemicals. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joshua Spector</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$281.00</td>
<td>$276.00</td>
</tr>
<tr>
<td>Duffy Fischer</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$295.00</td>
<td>$290.00</td>
</tr>
<tr>
<td>Duffy Fischer</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$330.00</td>
<td>$291.00</td>
</tr>
<tr>
<td>John McNulty</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$323.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Jeffrey Zekauskas</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$340.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Michael Sison</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$280.00</td>
<td>$240.00</td>
</tr>
<tr>
<td>David Begleiter</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$280.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Patrick Cunningham</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$305.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>John McNulty</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$300.00</td>
<td>$294.00</td>
</tr>
<tr>
<td>Joshua Spector</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$268.00</td>
<td>$257.00</td>
</tr>
<tr>
<td>David Begleiter</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$310.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Steve Byrne</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$312.00</td>
<td>$275.00</td>
</tr>
<tr>
<td>Duffy Fischer</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$290.00</td>
<td>$245.00</td>
</tr>
<tr>
<td>John McNulty</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$294.00</td>
<td>$276.00</td>
</tr>
<tr>
<td>Vincent Andrews</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$280.00</td>
<td>$240.00</td>
</tr>
<tr>
<td>John McNulty</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$276.00</td>
<td>$263.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Air Products &amp; Chemicals. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Air Products &amp; Chemicals compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Air Products &amp; Chemicals's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Air Products &amp; Chemicals's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/APD/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Air Products &amp; Chemicals analyst ratings.</a>
<h2>Unveiling the Story Behind Air Products &amp; Chemicals</h2>
Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. The company is the largest supplier of hydrogen and helium in the world. It has a unique portfolio serving customers in a number of industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated $12.6 billion in revenue in fiscal 2023.
<h3>Financial Insights: Air Products &amp; Chemicals</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Negative Revenue Trend: Examining Air Products &amp; Chemicals's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -1.6% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Materials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 23.33%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Air Products &amp; Chemicals's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.64% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.91%, the company showcases effective utilization of assets.
Debt Management: Air Products &amp; Chemicals's debt-to-equity ratio surpasses industry norms, standing at 0.97. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Air Products & Chemicals's Future

UBS analyst Joshua Spector maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Neutral and raises the price target from $276 to $281.

Price Target

UBS Maintains Neutral on Air Products & Chemicals, Raises Price Target to $281

Barclays analyst Duffy Fischer maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Equal-Weight and raises the price target from $290 to $295.

Barclays Maintains Equal-Weight on Air Products & Chemicals, Raises Price Target to $295

Goldman Sachs analyst Duffy Fischer maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Buy and raises the price target from $291 to $330.

Goldman Sachs Maintains Buy on Air Products & Chemicals, Raises Price Target to $330

BMO Capital analyst John McNulty maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Outperform and raises the price target from $300 to $323.

BMO Capital Maintains Outperform on Air Products & Chemicals, Raises Price Target to $323

Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) has outperformed the market over the past 20 years by 1.05% on an annualized basis producing an average annual return of 9.34%. Currently, Air Products &amp; Chemicals has a market capitalization of $62.63 billion. 
Buying $1000 In APD: If an investor had bought $1000 of APD stock 20 years ago, it would be worth $6,031.01 today based on a price of $281.74 for APD at the time of writing.
<h3>Air Products &amp; Chemicals's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722632421_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Air Products & Chemicals 20 Years Ago Would Be Worth Today

JP Morgan analyst Jeffrey Zekauskas maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Overweight and raises the price target from $300 to $340.

JP Morgan Maintains Overweight on Air Products & Chemicals, Raises Price Target to $340

Wells Fargo analyst Michael Sison maintains Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) with a Overweight and raises the price target from $240 to $280.

Wells Fargo Maintains Overweight on Air Products & Chemicals, Raises Price Target to $280

U.S. stocks were lower, with the Dow Jones index falling over 500 points on Thursday.
Shares of Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) rose sharply during Thursday's session after the company reported better-than-expected third-quarter <a href="https://www.benzinga.com/news/earnings/24/08/40100921/air-products-q3-win-eps-surge-and-margin-expansion-set-stage-for-promising-q4">adjusted EPS results</a>.
Air Products reported third-quarter 2024 adjusted EPS of $3.20, up 7% year-over-year, beating the consensus of $3.03. Sales declined 2% YoY to $2.986 billion, missing the consensus of $3.035 billion due to 2% unfavorable currency and 1% lower energy cost pass-through.
Air Products shares jumped 11.4% to $293.82 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares surged 26.2% to $3.9750. Corning and Lumen reached a supply agreement on next-generation fiber-optic cable to support data center AI demands.</li>
<li>Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>) jumped 24.3% to $56.80 after the company reported better-than-expected second-quarter financial results. Also, the company announced an exclusive license agreement with TwinStrand Biosciences.</li>
<li>Omnicell, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMCL#NASDAQ">OMCL</a>) gained 22.3% to $35.71 after the company reported better-than-expected second-quarter financial results and issued FY24 guidance above estimates.</li>
<li>Shake Shack Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) climbed 17.8% to $103.22 after the company reported better-than-expected second-quarter sales results.</li>
<li>Clearwater Analytics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWAN#NASDAQ">CWAN</a>) gained 17.5% to $22.97 after the company reported better-than-expected second-quarter sales results and issued FY24 revenue guidance above estimates..</li>
<li>Concord Medical Services Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) jumped 15.8% to $9.12.</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) gained 15.1% to $102.48 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Energy Recovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERII#NASDAQ">ERII</a>) gained 14.7% to $16.72 following upbeat quarterly results.</li>
<li>Frontdoor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTDR#NASDAQ">FTDR</a>) gained 14.2% to $45.06 following better-than-expected second-quarter financial results.</li>
<li>Hawkins, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWKN#NASDAQ">HWKN</a>) rose 14.1% to $118.53 following upbeat quarterly results.</li>
<li>Ranpak Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACK#NASDAQ">PACK</a>) gained 12.7% to $8.14 after the company reported better-than-expected second-quarter EPS results.</li>
<li>Zeta Global Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) rose 12.4% to $24.07 after the company reported better-than-expected quarterly financial results and raised its FY24 revenue guidance above estimates. Additionally, Morgan Stanley and Oppenheimer raised their respective price targets on the stock.</li>
<li>Acadia Healthcare Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) rose 12.2% to $72.73 after the company reported better-than-expected quarterly financial results..</li>
<li>FMC Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>) gained 12% to $65.34 following quarterly financial results..</li>
<li>Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) rose 10.6% to $262.60 after the company reported better-than-expected quarterly financial results.</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) gained 9.5% to $145.82 after the company reported better-than-expected quarterly financial results.</li>
<li>Aptiv PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) gained 5.8% to $73.46 after the company reported better-than-expected second-quarter adjusted EPS results and raised its FY24 adjusted EPS above estimates. Additionally, the company announced the authorization of a $5 billion share repurchase program..</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rose 5.8% to $502.20 following better-than-expected quarterly earnings.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40101200/top-3-health-care-stocks-that-are-set-to-fly-this-quarter"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40101200/top-3-health-care-stocks-that-are-set-to-fly-this-quarter">Top 3 Health Care Stocks That Are Set To Fly This Quarter</a></li>
</ul>

Air Products &amp; Chemicals Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40092845/air-products-reports-fiscal-2024-third-quarter-gaap-eps-of-3-13-and-adjusted-eps-of-3-20" rel="noreferrer noopener">third-quarter 2024 adjusted</a> EPS of $3.20, up 7% year-over-year, beating the consensus of $3.03.
Sales declined 2% YoY to $2.986 billion, missing the consensus of $3.035 billion due to 2% unfavorable currency and 1% lower energy cost pass-through.
Sales by segments: Americas $1.235 billion (-2% Y/Y), Europe $693 million (-2% Y/Y), and Asia $790 million (-4% Y/Y).
Operating profit rose 14.5% Y/Y to $737.6 million, and margin expanded by 347 bps to 24.7%
Adjusted EBITDA rose 5% Y/Y to $1.3 billion, with margins expanding 260 basis points to 42.4%.
Air Products' operating cash flow for the nine months ended June 30 totaled $2.689 billion, up from $2.203 billion in 2023.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39709835/honeywells-1-81b-power-play-acquires-air-products-lng-tech-to-lead-energy-transition" rel="noreferrer noopener">Honeywell&#8217;s $1.81B Power Play: Acquires Air Products&#8217; LNG Tech to Lead Energy Transition</a>
Q4 Guidance: Air Products sees Adjusted EPS Of $3.33 to $3.63 versus consensus Of $3.53.
2024 Guidance: Air Products reaffirmed its Adjusted EPS outlook of $12.20-$12.50 versus the consensus of $12.23 and capital expenditures outlook of $5.0 billion-$5.5 billion.
Price Action: APD shares are trading higher by 6.88% at $282.00 premarket at the last check Thursday.

Equities

Guidance

Air Products' Q3 Win: EPS Surge and Margin Expansion Set Stage for Promising Q4

WIIM

Air Products And Chemicals shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results.

Air Products Sees Q4 Adj. EPS $3.33-$3.36 vs $3.53 Est.

Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) reported quarterly earnings of $3.20 per share which beat the analyst consensus estimate of $3.03 by 5.61 percent. The company reported quarterly sales of $2.986 billion which missed the analyst consensus estimate of $3.035 billion by 1.64 percent. This is a 1.60 percent decrease over sales of $3.034 billion the same period last year.

Earnings Misses

Air Products & Chemicals Q3 2024 Adj. EPS $3.20 Beats $3.03 Estimate, Sales $2.986B Miss $3.035B Estimate

Deutsche Bank analyst David Begleiter downgrades Air Products &amp; Chemicals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) from Buy to Hold and lowers the price target from $310 to $280.

Downgrades

Deutsche Bank Downgrades Air Products & Chemicals to Hold, Lowers Price Target to $280

Air Products shares are trading lower after the company announced management changes.

Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) shares are trading slightly higher after United Airlines Holdings, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) chose the company to supply a variety of avionics for its upcoming 737 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39876623/honeywell-selected-by-united-airlines-to-provide-wide-array-of-cockpit-technology-for-new-737-max-" rel="noreferrer noopener">MAX aircraft over the next decade</a>.
This includes the industry&#8217;s only 3D weather radar, new 25-hour flight data recorders, and advanced traffic avoidance systems.
United Airlines initially chose Honeywell avionics in 2018 for 161 737 MAX aircraft.
This new agreement further reinforces Honeywell&#8217;s reputation for delivering top-tier aerospace technology.
Heath Patrick, President, Americas Aftermarket, Honeywell Aerospace Technologies said, &#8220;We are proud to continue our long-standing relationship with United Airlines to provide advanced avionics for its growing 737 MAX fleet.&#8221;
Earlier this month, Honeywell agreed to acquire&nbsp;Air Products And Chemicals, Inc.'s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>)&nbsp;liquefied natural gas (LNG) process technology and equipment&nbsp;business for $1.81 billion<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39709835/honeywells-1-81b-power-play-acquires-air-products-lng-tech-to-lead-energy-transition" rel="noreferrer noopener"> in an all-cash transaction</a>.
Honeywell stock has gained more than 2% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Gabelli Commercial Aerospace And Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>) and&nbsp;Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>).
Price Action: HON shares are up 0.12% at $214.87 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Contracts

GCAD

Honeywell Gears Up United Airlines' New 737 MAX with Cutting-Edge Avionics: Details

That strategy is to optimize and grow Air Products&#39; core industrial gases business while advancing the energy transition through clean hydrogen.

Air Products Reports Formation Of Management Board, Effective Immediately, To Execute Two-Pillar Growth Strategy

The machinery industry is advancing in automation and smart manufacturing to boost productivity, efficiency, and precision. In this evolving landscape, one could invest in industrial machinery giants Eaton Corp. (ETN), Caterpillar Inc. (CAT), and Honeywell International (HON), which are well-positioned to dominate the next decade. Keep reading… Technological advancements like artificial intelligence (AI) are reshaping the machinery industry in today's rapidly evolving world. As the industry sprints toward a digital future, companies are reconsidering their production strategies to meet the soaring demand. This shift is driving competition among industry leaders to establish new manufacturing centers and capitalize on the growing opportunities.
Investors looking to tap into the potential of this transformation could consider investing in fundamentally sound industrial machinery giants like Eaton Corporation plc (<a href="https://stocknews.com/stock/ETN/">ETN</a>), Caterpillar Inc. (<a href="https://stocknews.com/stock/CAT/">CAT</a>), and Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>). These companies are well-positioned to dominate the next decade thanks to their strategic initiatives and strong market presence.
A combination of technologies, such as robotics, artificial intelligence, and machine learning, is being utilized to automate a broader range of tasks, enhancing productivity and reducing costs. With the increasing adoption of automation and smart technologies, the industrial machinery market is anticipated to grow $1.3 trillion by 2032, exhibiting a <a href="https://www.gminsights.com/industry-analysis/industrial-machinery-market">CAGR of 7.5%</a>. This wave of innovation makes the market attractive for investors seeking long-term gains.
AI, in particular, is <a href="https://praxie.com/ai-optimization-in-manufacturing/#:~:text=Predictive%20maintenance%20is%20one%20of,extends%20the%20lifespan%20of%20machinery.">revolutionizing the manufacturing industry</a> by introducing smart solutions that improve efficiency and reduce costs. From predictive maintenance to inventory management, AI optimizes operational processes and is now a critical component of Industry 5.0, enabling hyper-personalized, human-centric smart factories. The global AI in manufacturing market is expected to reach <a href="https://appinventiv.com/blog/ai-in-digital-transformation/#:~:text=AI%20in%20Manufacturing%20and%20Industry%205.0,-AI%20has%20become&amp;text=According%20to%20the%20report%20from,with%20a%20CAGR%20of%2045.6%25.">$20.80 billion by 2028</a>, growing at a CAGR of 45.6%.
Let's evaluate the fundamental aspects of the three<a href="https://stocknews.com/category/industrial-machinery/"> Industrial - Machinery</a> stocks mentioned above, starting with the third choice.
Stock #3: Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>)
HON engages in aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses globally. It operates through four segments: Aerospace; Honeywell Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions.
On July 26, the company's Board of Directors declared a quarterly <a href="https://www.investopedia.com/terms/d/dividend.asp">dividend</a> of $1.08 per share. This dividend will be paid on September 6, 2024, to shareholders on record as of August 16, 2024. HON pays an annual dividend of $4.32, which translates to a yield of 2.18% at the current share price. Its four-year average dividend yield is 2.08%.
On July 10, HON announced the acquisition of Air Products and Chemicals, Inc. (<a href="https://stocknews.com/stock/APD/">APD</a>)'s liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash deal. This purchase will enhance HON's energy transition capabilities, providing a comprehensive end-to-end solution for global customers.
The acquisition is expected to drive diversified growth and innovation in aftermarket services and software and will immediately accret to the company's sales growth, segment margin, and adjusted EPS in the first full year of ownership.
For the second quarter of 2024, which ended on June 30, HON's net sales increased 4.7% year-over-year to $9.58 billion, while the operating income margin improved by 10 basis points to 20.7%. Its operating income stood at $1.98 billion, up 5% year-over-year, while its attributable net income amounted to $1.54 billion, representing an increase of 3.8% from the last year. Also, the company's adjusted EPS for the quarter increased 8.3% year-over-year to $2.49.
Building on this quarter's momentum and successful acquisitions, the company updated its 2024 outlook. HON anticipates full-year sales to range between $39.10 billion and $39.70 billion, with 5% to 6% organic growth. It also forecasts adjusted EPS in the range of $10.05 to $10.25, reflecting a solid increase of 6% to 8%.
Street expects HON's revenue and EPS for the fiscal third quarter (ending September 2024) to increase 7.8% and 10.2% year-over-year to $9.93 billion and $2.50, respectively. In addition, it surpassed the consensus EPS estimates in each of the trailing four quarters, which is excellent.
Shares of HON have gained 6.4% over the past year to close the last trading session at $198.50.
HON's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
HON has a B grade for Stability. It is ranked #34 out of 78 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry. <a href="https://stocknews.com/stock/HON/">Click here</a> to access the other HON ratings for Growth, Value, Momentum, Sentiment, and Quality.
Stock #2: Caterpillar Inc. (<a href="https://stocknews.com/stock/CAT/">CAT</a>)
CAT is a manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates through its four segments: Construction Industries; Resource Industries; Energy &amp; Transportation; and Financial Products.
On August 13, CAT announced plans to expand its Lafayette Engine Center, enhancing its capacity to build and test new engines, genset packages and provide aftermarket components. The expansion involves increasing the campus' footprint, refurbishing equipment, and investing in additional equipment. This move aims to meet the rising global demand for backup and prime power in data centers, fueled by the growing adoption of cloud computing and generative AI.
On May 16, the company announced a $90 million investment to upgrade its facilities in Schertz and Seguin, Texas, to produce the new Cat&#xAE; C13D industrial engine. The plan includes $70 million for new equipment installations in Schertz to manufacture C13D engine components and $20 million for assembling the engines in Seguin. This investment positions CAT to enhance its industrial engine production capabilities, supporting future growth and maintaining its competitive edge in the market.
CAT's total sales and revenue for the fiscal second quarter (ended June 30, 2024) amounted to $16.69 billion, while its revenue from financial products stood at $849 million, up 9.8% over the prior year quarter. The company's adjusted profit and adjusted profit per share increased by 2% and 7.9% year-over-year to $3.76 billion and $5.99, respectively.
Analysts expect CAT's revenue for the fiscal year ending December 2025 to grow 3.5% year-over-year to $67.74 billion, while its EPS for the same period is expected to increase 3.3% year-over-year to $22.76.
Over the past nine months, the stock has gained 38.4%, closing the last trading session at $343.48.
It's no surprise that CAT has an overall rating of B, equating to a Buy in our POWR Ratings system. It also has a B grade for Stability and Quality. Out of 78 stocks in the same A-rated industry, CAT is ranked #29.
Beyond what is stated above, we've also rated CAT for Growth, Value, Momentum, and Sentiment. Get all CAT ratings <a href="https://stocknews.com/stock/CAT/">here</a>.
Stock #1: Eaton Corporation plc (<a href="https://stocknews.com/stock/ETN/">ETN</a>)
Headquartered in Dublin, Ireland, ETN operates as a power management company through five segments: Electrical Americas; Electrical Global; Aerospace; Vehicle; and eMobility. It is also engaged in providing thermal monitoring for critical electrical equipment globally.
On July 24, the company declared a quarterly dividend of $0.94 per ordinary share, payable on August 23, 2024, to shareholders of record as of August 5, 2024.
ETN's annual dividend of $3.76 translates to a 1.27% yield on the prevailing prices, while its four-year average dividend yield is 1.92%. Its dividend payouts have grown at CAGRs of 6.9% and 5.7% over the past three and five years, respectively. Also, ETN has a record of 9 years of consecutive dividend growth.
On July 2, ETN and Jebel Ali Free Zone agreed to build a new sustainable campus. The project will extend ETN's research, engineering, and manufacturing capacity and aims to significantly boost Dubai's capabilities in advanced electrical and electronic components manufacturing. The construction of the facility will begin in 2025 and is anticipated to be completed in 2026.
In the fiscal second quarter that ended on June 30, 2024, ETN's net sales increased 8.3% year-over-year to $6.35 billion. Its adjusted earnings came in at $1.09 billion, up 23.7% year-over-year, while its adjusted earnings per share grew 23.5% from the prior-year quarter to $2.73. In addition, the company's free cash flow rose 9.8% from the year-ago value to $759 million.
For the third quarter of fiscal 2024, the company expects adjusted EPS to be between $2.73 and $2.83. Organic growth is forecasted to range between 8% to 9%. The segment margins are anticipated to grow in the range of 23.5% to 23.9%.
The consensus revenue estimate of $6.37 billion for the fiscal third quarter (ending September 2024) represents an 8.3% increase year-over-year. The consensus EPS estimate of $2.80 for the ongoing quarter indicates a 13.2% improvement year-over-year. The company has an excellent earnings surprise history; it surpassed the consensus EPS estimates in each of the trailing four quarters.
ETN shares have surged 37.3% over the past year and 30.8% over the past nine months to close the last trading session at $296.68.
ETN's POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Sentiment and Quality. Within the same industry, ETN is ranked #14. <a href="https://stocknews.com/stock/ETN/">Click here</a> to access the additional ratings for ETN (Growth, Value, Momentum, and Stability).
What To Do Next?
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<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
CAT shares were trading at $343.86 per share on Monday afternoon, up $0.38 (+0.11%). Year-to-date, CAT has gained 17.74%, versus a 18.00% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/cat-hon-etn-apd-3-industrial-machinery-giants-set-to-dominate-the-next-decade/>3 Industrial Machinery Giants Set to Dominate the Next Decade</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Industrial Machinery Giants Set to Dominate the Next Decade

Why Air Products & Chemicals Deserves A Spot In Your Portfolio

The robotics industry's long-term growth is fueled by rapid technological advancements and automation across several sectors. Thus, it could be wise to keep an eye on fundamentally solid robotics stocks Stryker (SYK), Honeywell International (HON), and Medtronic (MDT) to capitalize on the automation revolution. Keep reading… With the increasing demand for automation systems across several sectors, including industrial machinery, healthcare, manufacturing, and logistics, coupled with the rapid adoption of emerging technologies such as AI and machine learning, the robotics industry continues to grow and innovate significantly.
Amid this backdrop, fundamentally sound robotics stocks Stryker Corporation (<a href="https://stocknews.com/stock/SYK/">SYK</a>), Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>), and Medtronic plc (<a href="https://stocknews.com/stock/MDT/">MDT</a>) could be ideal watchlist additions.
The ongoing market transformation with cutting-edge technologies continuously extends its reach beyond tech into fields like industrial machinery and medical devices and equipment. Currently, <a href="https://www.coolest-gadgets.com/robots-statistics#:~:text=By%202024%2C%20the%20global%20robots,robot%20for%20every%2071%20humans.">over 3.4 million industrial robots are in use</a> worldwide, and industrial companies plan to spend over 25% of their capital on robots in the next five years.
Driven by rapid industrialization, increasing demand for manufacturing automation, enhanced efficiency, cost reduction, and improved product quality, the global industrial robotics market is expected to experience robust growth. The market is expected to grow over $51.78 billion by 2032, expanding at a <a href="https://www.globenewswire.com/news-release/2024/08/19/2932237/0/en/Global-Industrial-Robotics-Market-Report-2024-2032-with-Competitive-Analysis-of-KUKA-iRobot-Intuitive-Surgical-Panasonic-Fanuc-ABB-and-Stryker.html">CAGR of 7.7%</a> during the forecast period (2024-2032).
Further, robotics has revolutionized patient care and operational efficiency. Automated systems can <a href="https://www.restack.io/p/robotics-knowledge-answer-2024-news-cat-ai">process vast amounts of medical data</a>, enabling healthcare professionals to make informed decisions quickly, resulting in enhanced surgery precision, improved patient monitoring, and streamlined administrative tasks.
The global medical service robotics market generated a <a href="https://www.statista.com/forecasts/1321270/worldwide-medical-robotics-market-size#:~:text=In%202024%2C%20the%20global%20medical,billion%20U.S.%20dollars%20by%202028.">revenue of $11.20 billion in 2024</a>, and the market is anticipated to grow to nearly $21 billion by 2028.
Given the industry's bright prospects, watching fundamentally strong robotics stocks SYK, HON, and MDT could be wise now.
Let's discuss the fundamentals of these stocks in detail:
Stryker Corporation (<a href="https://stocknews.com/stock/SYK/">SYK</a>)
SYK operates as a medical technology company. The company operates in two segments: MedSurg and Neurotechnology and Orthopaedics and Spine. The company provides implants for use in total joint replacements, like hip, knee, and shoulder, as well as trauma and extremities surgeries.
On August 22, SYK entered a definitive agreement to acquire Vertos Medical Inc., a privately held company offering a minimally invasive solution for treating chronic lower back pain. The strategic acquisition strengthens SYK's minimally invasive pain management portfolio with differentiated treatments and expands its reach across ambulatory surgery centers.
On August 12, SYK entered into a definitive agreement to acquire care.ai, a privately held company that delivers AI-assisted virtual care workflows, smart room technology, and ambient intelligence solutions. The strategic acquisition strengthens SYK's growing healthcare IT offering and wirelessly connected medical device portfolio.
During the second quarter that ended on June 30, 2024, SYK's net sales increased 8.5% year-over-year to $5.42 billion. Its adjusted <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 9.1% from the year-ago value to $3.48 billion. The company's adjusted operating income of $1.33 billion indicates growth of 9.7% from the prior year's quarter.
In addition, the company's adjusted net earnings and adjusted EPS came in at $1.08 billion and $2.81, up 11.2% and 10.6% year-over-year, respectively.
Analysts expect SYK's revenue for the third quarter (ending September 2024) to grow 9.4% year-over-year to $5.37 billion, and its EPS for the same period is expected to increase 12.6% year-over-year to $2.77. Furthermore, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
SYK's shares have gained 7.8% over the past month and 25.5% over the past year to close the last trading session at $360.42.
SYK's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Growth, Sentiment, and Stability. Within the <a href="https://stocknews.com/category/medical-devices-equipment/">Medical – Devices &amp; Equipment</a> industry, SYK is ranked #31 out of 132 stocks.
<a href="https://stocknews.com/stock/SYK/">Click here</a> to access additional ratings of SYK for Value, Momentum, and Quality.
Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>)
HON engages in aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses internationally. It operates through Aerospace; Honeywell Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions segments.
On August 14, HON launched INNCOM Direct, an easy-to-install energy management system that uses automation to help improve energy efficiency in mid-market hotel properties. Its launch supports HON's alignment of business around three compelling megatrends, including automation and the energy transition.
On July 22, HON was selected by United Airlines to provide a wide range of avionics for new 737 MAX aircraft set up to enter service over the next decade, including technologies such as the industry's only 3D weather radar, flight recorders, and advanced traffic avoidance systems.
Also, on July 10, HON acquired the liquefied natural gas (LNG) process technology and equipment business of Air Products and Chemicals, Inc. (<a href="https://stocknews.com/stock/APD/">APD</a>) for $1.81 billion in an all-cash transaction. The acquisition enhances HON's energy transition capabilities, providing a comprehensive end-to-end solution for customers globally.
For the second quarter which ended on June 30, 2024, HON's net sales increased 4.7% year-over-year to $9.58 billion. Its operating income of $1.98 billion reflects a growth of 5% from the prior year's quarter. The company's net income attributable to Honeywell and EPS stood at $1.54 billion and $2.36, up 3.8% and 6.3% year-over-year, respectively.
According to the company's updated 2024 outlook, HON expects its sales to range between $39.10 billion and $39.70 billion. It also anticipates adjusted EPS in the range of $10.05 to $10.25, reflecting a solid increase of 6% to 8%. And its free cash flow has been raised to $5.50 billion - $5.90 billion for the full year.
Street expects HON's revenue and EPS for the third quarter (ending September 2024) to increase 7.8% and 10.2% year-over-year to $9.93 billion and $2.50, respectively. Moreover, the company surpassed the consensus EPS estimates in all four trailing quarters, which is impressive.
HON's stock has increased 4.6% over the past six months and 10.3% over the past year to close the last trading session at $207.91.
HON's sound fundamentals are reflected in its POWR Ratings. The stock has a B grade for Stability. Within the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry, HON is ranked #34 out of 78 stocks.
In addition to the POWR Ratings we've stated above, we also have HON ratings for Growth, Momentum, Sentiment, Value, and Quality. Get all HON ratings <a href="https://stocknews.com/stock/HON/">here</a>.
Medtronic plc (<a href="https://stocknews.com/stock/MDT/">MDT</a>)
MDT develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients globally. The company operates through Cardiovascular Portfolio; Neuroscience Portfolio; Medical Surgical Portfolio; and Diabetes Operating Unit segments.
On August 15, MDT's Board of Directors approved a cash dividend of $0.70 per share for the second quarter of fiscal year 2025. The quarterly declaration is consistent with the dividend increase announced by MDT in May 2024. The dividend is payable on October 11, 2024, to shareholders of record at the close of business on September 27, 2024.
MDT pays an annual dividend of $2.80, which translates to a yield of 3.16% at the current share price. Its four-year average dividend yield is 2.74%. Moreover, the company's dividend payouts have increased at a CAGR of 6.3% over the past five years. Furthermore, its annual dividend payment has increased for the past 47 consecutive years.
On August 7, MDT announced that the FDA approved its Simplera&#x2122; continuous glucose monitor (CGM). It is MDT's first disposable, all-in-one CGM, which is half the size of previous models and easier to use. The company expanded CGM offerings to meet more people where they are in their diabetes journey.
The company also announced a global partnership with Abbott to create an integrated CGM based on Abbott's most advanced CGM platform, which will work exclusively with MDT's smart insulin device. The strategic collaboration bodes well with the company and is expected to boost its Diabetes revenue.
MDT's net sales increased 2.8% year-over-year to $7.92 billion for the first quarter, which ended July 26, 2024. Its non-GAAP operating profit grew 2.3% from the year-ago value to $1.95 billion. Net income attributable to Medtronic and EPS came in at $1.04 billion and $0.80, up 31.7% and 35.6% from the prior year's quarter, respectively.
The company raised its fiscal year 2025 guidance, increasing its revenue growth projection to a range of 4.5% to 5%. It has also adjusted its non-GAAP EPS guidance to a new range of $5.42 to $5.50, slightly higher than the prior forecast of $5.40 to $5.50. This revised guidance suggests a 4% to 6% growth in non-GAAP EPS.
Street expects MDT's revenue and EPS for the third quarter (ending January 2025) to increase 3.9% and 5.6% year-over-year to $8.41 billion and $1.37, respectively. Also, the company has topped the consensus EPS and revenue estimate in all four trailing quarters, which is remarkable.
Shares of MDT have surged 10.1% over the past month and 7.6% over the past year to close the last trading session at $88.58.
MDT's POWR Ratings reflect its sound fundamentals. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
MDT has a B grade for Stability and Value. It is ranked #17 out of 132 stocks in the Medical – Devices &amp; Equipment industry.
In addition to the POWR Ratings we've stated above, we also have MDT ratings for Quality, Growth, Momentum, and Sentiment. Get all MDT ratings <a href="https://stocknews.com/stock/MDT/">here</a>.
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SYK shares were trading at $360.42 per share on Monday morning, up $2.49 (+0.70%). Year-to-date, SYK has gained 20.92%, versus a 19.34% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/syk-hon-mdt-apd-3-robotics-stocks-to-watch-for-the-automation-revolution/>3 Robotics Stocks to Watch for the Automation Revolution</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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