Honeywell International Inc. (HON) concluded its most recent trading day at $186.52, marking a notable 1.01% increase compared to the previous trading session. This performance exceeded that of the S&P 500, which recorded a daily gain of 0.63%. Meanwhile, the Dow saw an increase of 0.59%, and the technology-focused Nasdaq posted a 0.39% uptick.

In the month leading up to this day, Honeywell’s stock displayed a 0.08% increase. This growth outperformed the Conglomerates sector, which witnessed a 7.34% decline, and also outpaced the broader S&P 500, which registered a 3.39% decrease during the same timeframe.

Investors are eagerly anticipating the forthcoming financial results of Honeywell International Inc., set to be revealed on October 26, 2023. Projections propose the company may report an earnings per share (EPS) of $2.22, showcasing a 1.33% decline compared to the same quarter last year. Additionally, the most recent consensus estimate anticipates revenue of $9.21 billion, signaling a 2.93% increase from the corresponding quarter in the previous year.

HON’s annual Zacks Consensus estimates project earnings at $9.15 per share and revenue at $36.86 billion. These figures represent year-over-year changes of +4.45% and +3.93%, respectively.

It is important for investors to pay attention to any recent changes in analyst estimates for Honeywell International Inc. These revisions often reflect current short-term business trends, which can change frequently. Optimistic revisions to estimates are usually viewed as a favorable signal regarding the company’s business prospects.

Studies have shown a strong correlation between these estimate modifications and upcoming stock price performance. Investors can leverage the Zacks Rank, a creditable and externally validated rating system, to take advantage of these fluctuations.

The Zacks Rank ranges from #1 (Strong Buy) to #5 (Strong Sell), and historically, #1-ranked stocks have returned an average of +25% annually since 1988. In the last month, the Zacks Consensus EPS estimate for Honeywell International Inc. has experienced a gradual decline, resulting in the company currently holding a Zacks Rank of #3 (Hold).

Regarding its valuation, Honeywell International Inc. is presently trading at a Forward P/E ratio of 2019. In comparison, the industry’s typical Forward P/E stands at 15.72, indicating that Honeywell International Inc. is trading at a premium compared to its industry counterparts.

Moreover, it’s worth noting that HON has a PEG ratio of 2.34. This metric is similar to the well-known P/E ratio but also considers the stock’s expected earnings growth rate. As of the previous close, the industry’s average PEG ratio was 1.82.

The Diversified Operations industry, in which Honeywell operates, falls under the Conglomerates sector and currently holds a Zacks Industry Rank of 158, placing it in the lower 38% of all industries.

The Zacks Industry Rank assesses the strength of individual industry groups by calculating the average Zacks Rank of the constituent stocks within those groups. Historical data suggests that industries ranked in the top 50% tend to outperform those in the bottom half by a factor of 2 to 1.

To sum it up, Honeywell International Inc. (HON) has been doing well in the stock market, outperforming benchmarks and staying on a positive track. We’re waiting for its earnings report, and it’s crucial to keep an eye on how estimates, stock performance, and the Zacks Rank are connected. Although the stock is a bit more expensive, its growth predictions are positive. But remember, market conditions can change, so it’s essential for investors to stay informed and vigilant.