Honeywell International Inc. [NYSE:HON] price is worthing noting Thursday. The current price is $173.62 with a high of $173.87 and $171.48. Analysts see the the current price target is $172.43.
To ground this price against the rest of the market, over the last two 52 weeks, the company is trading 8.72%, while the S&P 500 is trading 0.5%. Traders should note that the company’s next earning date is 10/16/2020. The company has price per sales of 3.49 and price per cash flow of 39.05.
The Bears are coming
Holding a Market Cap of $120.53 billion, Honeywell International Inc. has seen a trading range over the last year of $101.08-$184.06.
For the last five days, HON is up from its last closing price. The average shares trading hands each day is 3.16M, with average 10-day volume coming in at 2.24 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for HON. When we apply the Elder Force Index to Honeywell International Inc., we are seeing an Elder Force Indicator number of -138757.92.
The recent performance of the stock is another area that can tell traders how to proceed. HON is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 22.23. Moreover, the company’s enterprise value has gone from $108.79B to $100.19B quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, HON made a profit of 2.2 billion. Honeywell International Inc. also saw quarter revenue growth year over year of -12.21%. In addition, the company has operating cash flow of $6.5 billion.
Looking at popular technical indicators, the company’s 5-day moving average is 170.97 compared to the 50-day moving average of 165.42. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. HON currently holds a 9-day RSI of 70.49%, while 100-day RSI stands at 53.37%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. HON’s 9-day MACD is 4.94 and the company’s 100-day MACD stands at 17.71.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 0.16% by insiders and 78.18% by institutions.
Over the last six months, insiders have sold 20,000 with the most recent transaction from Adamczyk Darius, Chairman and CEO, with a sell at price 163.95 per share.
Overall, the recommended rating for HON is Moderate Buy. Currently, the company has 19 analysts watching the stock, and the average quarterly earnings estimate is 1.48. Quarterly revenue estimates are averaging 7.63B with the high estimate reaching 7.76B and the low at 7.51B.
To review, the current 1-year target estimate is sitting at 170.03, while the current price 173.62. Based on this, we expect some pullback on the stock over time given our above analysis.