Honeywell International Inc. HON recently partnered with Qualcomm Technologies, Inc., a subsidiary of QUALCOMM Incorporated QCOM, to develop a Multi-Modal intelligent agent for Honeywell mobile devices. Powered by Qualcomm Technologies, the Artificial Intelligence (AI)-driven mobile assistant solution will boost workers’ efficiency in distribution centers and retail industries.
HON’s shares lost 0.7% on the last trading day to eventually close the trading session at $206.8.
Based in San Diego, CA, Qualcomm designs and manufactures semiconductors and telecommunications equipment. The company also focuses on areas like 5G connectivity, IoT (Internet of Things), automotive technology and AI, thereby enabling advanced capabilities across various applications and industries.
Inside the Headlines
This mobile assistant solution is a digital resource for the modern workforce, enabling workers to gain quick access to product information that enhances their efficiency by saving time and improving accuracy. Workers can input queries into the technology, such as stock availability or item location, to receive quick responses, which will be delivered through images, videos, voice responses or text. This will improve their productivity by allowing them to manage multiple tasks simultaneously. Workers will be able to use the solution through a software development kit, which can be integrated with an organization’s prevailing applications and systems.
Along with enhancing workers’ performance, the mobile assistant will help businesses improve their customer dealing capability. The Multi-Modal Intelligent Agent is anticipated to be launched early next year.
HON’s Zacks Rank
Strength in the commercial aviation and building automation businesses augurs well for Honeywell. The Aerospace segment is particularly strong, driven by robust demand in the aviation aftermarket.
In the past year, this Zacks Rank #3 (Hold) company’s shares have gained 10.1% compared with the industry’s 10.3% growth.
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However, weakness in the Industrial Automation segment due to lower demand for projects is worrisome. The weakened demand for personal protective equipment within the sensing and safety technologies business is also concerning.
Stocks to Consider
Some better-ranked companies from the same space are discussed below.
Vector Group Ltd. VGR currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
VGR delivered a trailing four-quarter average earnings surprise of 15.4%. In the past 60 days, the Zacks Consensus Estimate for Vector Group’s 2024 earnings has increased 5.2%.
Federal Signal Corporation FSS presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 12.3%.
In the past 60 days, the Zacks Consensus Estimate for FSS’ 2024 earnings has increased 2.9%.
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