HON stock: buy or sell
Updated on:
Jul 29th, 2021
2
HON stock brief
- Honeywell slightly changed a 0.06% after marking all-time highs on July 22
- Last Friday, Honeywell posted its Q2 financial report
- With the recent gains, Honeywell is approaching to new all-time highs again, that are now just 1.61% above the current trading
- Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide.
Should I buy Honeywell stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $HON stock a buy?
Currently, Honeywell stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $HON will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Honeywell stock?
"To sell or not to sell", if you are holding Honeywell stock?. Trading strategies prevent us from making impulsive decisions based on our sentiments or the buzz that surrounds the market. When selling, as well as buying, our strategies are very easy to use but are only valid for selling stocks in your porfolio, not for selling short $HON stock
As a rule of thumb, you should never hold a trade that yields greater losses than those expected at the time of purchase. When to sell shares always has to be ruled by the stop-loss (automatic or manual)
Is it time to sell Honeywell stock?
In the current situation of Honeywell there is not any eligible sell setup, so Honeywell stock holders with operations in profit can keep their positions
Honeywell ratings
We don't have any rating posted in the last month for Honeywell
Honeywell stock analysis
$HON at new All-time Highs
Honeywell hit all-time highs (ATH) on July 22 at $234.25, and cleared the field for new highs as there are no further resistances. Previous highs were in early June
SMAs overview
Supports and resistances
The current resistance levels are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band on July 16, the price sliced by 1.44%. The price is trading very close to the upper Bollinger band, indicating some level of overbought in recent sessions. This is not a sell point, as price can trade in these levels for many days and weeks
Relative strength index
The RSI crossed up the oversold line of 30 in mid-June after just being in the oversold zone for a single day (what can be considered a strength signal). The RSI value on Wednesday was 56.77. Honeywell shares exploded a 8.47% since that level was surpassed
Honeywell stock price history
Honeywell went public priced at an adjusted price1 of $0.74 on Jan 1970. Since then, HON stock has risen by 31,047.30%, with an average of 608.77% per year. An investment of $1,000USD on the IPO would worth $311,472.97 today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Honeywell stock
Nobody can predict how much a stock will be priced in the future. However, many stock price forecasts are issued every day by banks, financial institutions and independent analysts.
The following table shows the price forecasts posted by brokerage institutions in the last 30 days. Again, these predictions are not direct recommendations for individual investors and must not be followed blindly.
In the previous 30 days we couldn't find any price target posted for Honeywell stock.
Earnings and financials
Honeywell International Inc. ($HON) published quarterly earnings of $2.02 per share last Friday, slightly upping the analysts consensus estimate of $1.94 per share. This Q2 report means an earnings surprise of 4.12%. On the contrary, the company said turnover for Q2 was $8.8 billion aligned with the market estimates.
This compares to Earnings of $1.26 per share a year ago, so reported EPS is a gain of 60.32%. Looking at revenue, figures exploded a 17.80% compared to $74.8B year over year.HON ($HON) is hosting the quarterly earnings call next October. Forecasted for this quarter is $1.97, compared to $2.02 that was reported for Q2.
Honeywell competitors
Honeywell is classified inside the Specialty Industrial Machinery industry, where it has industry peers.
Honeywell most relevant competitors are:
| Company | Market cap | Rating | Bullish ratings1 |
|---|---|---|---|
| Honeywell ($HON) | $152.0B | ||
| 3M ($MMM) | $112.9B | Neutral | 0 |
| General Electric ($GE) | $112.8B | Neutral | 0 |
| Johnson Controls International ($JCI) | $44.5B | Neutral | 0 |
| Garmin (GRMN) | $24.6B | Neutral | 0 |
1 In the last 30 days.
Honeywell performance
To better understand Honeywell stock performance you must compare its gains with other related stocks in same sector or industry.. For Honeywell, the benchmark is made against 3M, General Electric, Johnson Controls International and Garmin.
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Honeywell ($HON) | 6.20% | 3.50% | 15.90% |
| 3M ($MMM) | 2.40% | 3.60% | 14.80% |
| General Electric ($GE) | 0.50% | -0.30% | 15.30% |
| Johnson Controls International ($JCI) | 5.10% | 12.00% | 43.00% |
| Garmin (GRMN) | 7.90% | 12.80% | 34.60% |
Disclaimer:
The comments expressed in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this report does not know the specific conditions of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are expressed for education motives onlyHON summary
| Wednesday, July 28th, 2021 | |
|---|---|
| Open | $230.07 |
| Close | $230.49 |
| Day range | $229.37 - $232.28 |
| Previous close | $230.36 |
| Session gain | 0.06% |
| Average true range | $6.80 |
| 50d mov avg | $224.11 |
| 100d mov avg | $222.20 |
| 200d mov avg | $209.84 |
| Earnings date | October 28th, 2021 |