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Thursday, September 21, 2023

Honeywell International Inc. (NYSE:HON) on the Path to Ruin

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Honeywell International Inc. (HON) shares are trading at lower $197.24 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $181.21.

To add more color to this target, the company’s high over the last year is $210.00 and the low is $101.08. Over the last 52 weeks, HON is up 8.40% while the S&P 500 is up 14.27%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, HON reported a profit of $2.41 billion. Honeywell International Inc. also saw revenues increase to $7.8 billion. In addition, HON has free cash flow of $2.81 billion as of 09-2020. The company’s EBITDA came in at $1.57 billion which compares well with its peers.

HON booked profit margins of 15.00%, its Return on Equity (ROE) is 27.50%, and its Return on Assets is 8.20%. All told, it is clear that, HON needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. HON has a short ratio of 1.51 and outstanding shares of 702.60M.

Company Outlook

HON has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 4.59 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 6.73. Honeywell International Inc. HON also noted assets of $63.46 billion at the end of the last quarter. Investors should also keep an eye on sector updates as HON has historically followed its peers on positive news.

All told, Honeywell International Inc. HON has strung together solid data and demonstrated underlying fundamentals. At its current valuation, HON represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Honeywell International Inc. HON is now commanding a market cap of 137.66B and a float of 700.55M. HON is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of HON stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in HON, either long or short, and we have not been compensated for this article.

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