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Put Honeywell on Your Radar

Tickers in this article: HON LUV

So far only Southwest Airlines (LUV) has purchased the new technology, equipping around 15 of its planes, according to the Bloomberg story.

The Director for Compliance and Flight Operations at Southwest was quoted as saying, "The system allows our pilots to fly more efficient, smoother, more accurate routes around weather cells which is essential to operating as safely as possible."

Sounds like all airlines need this HON technology.

To help us to see how safe it is to get on board Honeywell shares as an investment vehicle, let's look at a one-year chart that tracks the stock's price and cash from quarterly operations. HON ChartHON data by YCharts

It's been a fairly robust year for both the stock price and HON's profitability. In the quarter ending Sept. 30, year-over-year quarterly earnings growth was a healthy 10.2%. The trailing 12-month gross profit came in at almost $8 billion on slightly higher quarterly revenue growth.

Based on a share price of $60, the dividend yield is currently 2.73%, which represents a payout ratio of 50% of earnings. That price-per-share reflects a forward (one-year) PE ratio of only 12.23, and a price-to-earnings-to-growth (PEG) ratio of only 0.97. These ratios suggest the potential for share price growth.

Honeywell is in fairly good shape when it comes to its balance sheet. As of its most recent quarter it reported total cash of $5.4 billion and total debt of $7.99 billion. Operating cash flow was $3.64 billion with levered free cash flow (TTM) of $1.8 billion.

The best way to learn about Honeywell , what it manufactures and the multiple ways it generates business and profits is to examine the company's easy-to-navigate Web site . Notice the video on the home page from company Chairman Dave Cote on the importance of resolving the U.S. debt crisis.

With a $47.43 billion market cap and growing, Honeywell International is a stock worth accumulating. I'm especially interested if the share price were to pull back to below $59, which it last did on Nov. 16. We might have another opportunity if the "fiscal cliff" rhetoric continues in the weeks ahead.

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

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