Honeywell International (NYSE:HON) Settles Legal Battle

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Honeywell International (NYSE:HON) has settled its patent dispute with BorgWarner. Honeywell International (NYSE:HON) Settles Legal Battle It has been reported that Honeywell International (NYSE:HON) will be paying $32.5 million to BorgWarner in order to resolve a four-year-old patent dispute. BorgWarner had said that Honeywell had infringed on three patents for the design of titanium compressor wheels used in turbochargers in commercial vehicle engines. Honeywell International (NYSE:HON) said that BorgWarner’s complaints were invalid. Timothy M. Manganello, BorgWarner Chairman and CEO said, "The Company is pleased with its return on this investment – both through the development and sale of innovative products and through the receipt of fees related to patent infringement lawsuits.” Honeywell International (NYSE:HON) shares were at 60.12 at the end of the last day’s trading. There’s been a 4.4% change in the stock price over the past 3 months. Honeywell International (NYSE:HON) Analyst Advice Consensus Opinion: Moderate Buy Mean recommendation: 1.55 (1=Strong Buy, 5=Strong Sell) 3 Months Ago: 1.64 Zack’s Rank: 4 out of 27 in the industry