Honeywell‘s decision to halt business activities in Russia following the country’s invasion of Ukraine is unlikely to cause problems for the company’s balance sheet, CEO Darius Adamczyk told CNBC on Monday.

“It has some implications, but it’s the right thing to do, it’s a little bit north of 1% of our overall shares, and our manufacturing presence there is relatively small,” Adamczyk said in an interview on “Mad Money.”

“We’ll see what happens. We’re monitoring the situation,” he added.

The technology firm is one of hundreds of companies that have stopped or curtailed operations in Russia including Adidas, McDonald’s and Apple. The company announced its decision to “substantially” suspend its activities on March 8.

As for the company’s other possible headwinds, Adamczyk said that Honeywell’s supply chain and raw material costs have been manageable. Honeywell’s fourth quarter revenue fell short of expectations last month due to supply chain issues, among other factors. 

“We’ve actually done a good job of protecting that business. Titanium is something we watch very closely and some of the components there, but we’ve been a little bit ahead of the game and secured sources of supply, so we’re in pretty good shape there.”

Honeywell stock was up 0.53% at the end of Monday’s trading session.

When asked about future plans, Adamczyk said that the company plans to buy $4 billion worth of shares, which he considers to currently be a “bargain,” and look toward making acquisitions.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

Disclaimer

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money TwitterJim Cramer TwitterFacebookInstagram

Questions, comments, suggestions for the “Mad Money” website? madcap@cnbc.com

You May Also Like
Warren Buffett’s Berkshire trims Bank of America stake for the first time since 2019 after strong rally

Warren Buffett’s Berkshire trims Bank of America stake for the first time since 2019 after strong rally

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders…
AMC completes 0 million stock sale during meme rally, shares jump 30%

AMC completes $250 million stock sale during meme rally, shares jump 30%

Victor J. Blue | Getty Images News | Getty Images AMC Entertainment…

There’s a lot of financial aid available to women pursuing STEM careers

In this article AMZN MSFT PLTR Women are significantly underrepresented in STEM…
China’s top securities regulator to crack down on market manipulators

China’s top securities regulator to crack down on market manipulators

Wu Qing, Chairman of the China Securities Regulatory Commission, answers a question…