Honeywell sets added $3B buyback plan |
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Published
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Fri, 16 Feb 2007 14:38
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MORRIS TOWNSHIP, N.J. (AP) - Diversified industrial manufacturer Honeywell International Inc. said Friday it plans to buy back an additional $3 billion in company stock.Honeywell expects to repurchase outstanding shares from time to time in the open market using cash flow generated by its operations.As of Dec. 31, the company had 826 million shares outstanding.From the fourth quarter of 2003 through the end of 2006, Honeywell has bought back about 98 million shares valued at $3.8 billion under previously announced repurchase programs.Honeywell shares hit a 52-week high of $47.68 on Thursday and traded at a year low of $35.53 on July 21.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Honeywell to expand semiconductor unit 