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The most recent trading session ended with Honeywell International Inc. (HON) standing at $214.85, reflecting a +0.17% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 1.95%.

Shares of the company have appreciated by 2.87% over the course of the past month, outperforming the Conglomerates sector's loss of 6.42% and lagging the S&P 500's gain of 5.11%.

The investment community will be paying close attention to the earnings performance of Honeywell International Inc. in its upcoming release. The company is slated to reveal its earnings on July 25, 2024. In that report, analysts expect Honeywell International Inc. to post earnings of $2.40 per share. This would mark year-over-year growth of 7.62%. Simultaneously, our latest consensus estimate expects the revenue to be $9.4 billion, showing a 2.8% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.17 per share and a revenue of $38.66 billion, signifying shifts of +11.03% and +5.45%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Honeywell International Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.09% rise in the Zacks Consensus EPS estimate. Honeywell International Inc. is currently sporting a Zacks Rank of #3 (Hold).

Looking at valuation, Honeywell International Inc. is presently trading at a Forward P/E ratio of 21.1. For comparison, its industry has an average Forward P/E of 18.43, which means Honeywell International Inc. is trading at a premium to the group.

Investors should also note that HON has a PEG ratio of 2.23 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 1.69.

The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 27% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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