Honeywell International Inc. HON recently completed the acquisition of Performix Inc. The buyout is in sync with the company’s policy of creating a leading integrated software platform for the life sciences industry. The financial terms of the transaction were kept under wraps.The company’s shares lost 0.6% yesterday to eventually close the trading session at $217.90.Details of the BuyoutBased in Houston, TX, Performix specializes in offering manufacturing execution system (MES) software for use in the pharmaceutical, cosmetics, and specialty chemicals industries. The MES platform aids its customers to digitally transform their manufacturing process, thus allowing them to drive their manufacturing efficiency.Honeywell expects the acquisition to support its vision of connected life sciences that focuses on combining data from multiple systems into a manufacturing ecosystem. As noted, the addition of Performix’s MES software will complement and strengthen Honeywell's advanced portfolio of automation solutions that include the likes of enterprise quality management software and Experion Process Knowledge System. Together these offerings are expected to address its customers’ several challenges across product life cycles, ranging from automation project execution to optimal manufacturing.Performix will likely be integrated into Honeywell’s Performance Materials and Technologies segment. This segment is engaged in providing leading technologies and high-performance materials, including hydrocarbon processing technologies, catalysts, adsorbents, equipment and services. The segment generated revenues of $2,552 million, accounting for 29% of total revenues in the second quarter of 2021.Honeywell expects the acquisition to have no impact on its financial outlook.Other Inorganic MovesIn April 2021, Honeywell completed the acquisition of Sparta Systems, which has been strengthening its position in digital transformation, industrial automation, and enterprise performance management solutions space. Also, in December 2020, it acquired Sine Group, which has enhanced its Connected Buildings solution offerings. This apart, its buyout of Ballard Unmanned Systems in October 2020 has been boosting its prospects in the unmanned aerial systems market.Zacks Rank, Price Performance and Estimate TrendHoneywell, with approximately $150.4 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company stands to gain from strength in its warehouse and workflow solutions business, along with recovery in the commercial aerospace business and high backlog level in the quarters ahead. However, headwinds across its defense and space business are likely to affect its near-term performance.Image Source: Zacks Investment ResearchIn the past three months, the company’s share price has increased 0.9% compared with the industry’s growth of 4.6%.The Zacks Consensus Estimate for 2021 and 2022 earnings has been stable at $8.10 and $9.21, respectively, in the past 60 days.Stocks to ConsiderSome better-ranked stocks from the same space are Raven Industries, Inc. RAVN, Carlisle Companies Incorporated CSL, and Danaher Corporation DHR. While Raven currently sports a Zacks Rank #1 (Strong Buy), Carlisle and Danaher carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Raven pulled off an earnings surprise of 42.59%, on average, in the trailing four quarters.Carlisle pulled off an earnings surprise of 39.38%, on average, in the trailing four quarters.Danaher pulled off an earnings surprise of 27.52%, on average, in the trailing four quarters. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Honeywell International Inc. (HON): Free Stock Analysis Report Danaher Corporation (DHR): Free Stock Analysis Report Raven Industries, Inc. (RAVN): Get Free Report Carlisle Companies Incorporated (CSL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research