Honeywell International Inc (NASDAQ: HON) stock lost $0.75 of its trading prices on July 7, 2023. It opened trading at $202.88, lowering to $202.16, hit a high of $205.72 and closed trading at $203.26 with the intraday trading volume of 2.245 Million.
Since the past week, HON stock prices have reflected a steep degradation of 2.12%, and prices have moved in a positive direction and shown an upper trend of 3.20%. The monthly time frame moving average of HON stock suggests strong buying, but oscillators and suggest neutrality.
Rather than oscillators and moving averages, analysts also suggest that the ongoing movement might be suitable for buying the HON stock. Honeywell International Inc. has a market capitalization of $135.305 Billion, and the average volume of its stock is $2.325 Million.
The annual price target of HON stock is $221.70, which is around 9-10% greater than the current trading prices. In the past 52 weeks, Honeywell International Inc. stock traded around $220.96 and lowest traded at $166.63.
Data from TradingView states that 665.07 Million HON shares are free-floating and the remaining 607.098K are closely held either by financial backers of the company or by the board of members.
Recent News
Eos Management L.P. revealed in its recent SEC filing that it reduced its shareholdings in Honeywell International Inc. As per data, the management fund owns 16,348 shares after selling 18,232 shares in the first quarter of 2023.
Eos Management L.P.’s holdings in Honeywell International were worth $3,124,000 at the end of the most recent reporting period.
Honeywell International Inc (NASDAQ: HON) Earnings & Revenue
In Q1 2023, Honeywell International Inc impressed its investors and consumers by reporting 4.11% more revenue than the estimated figures. The company’s estimated revenue was $8.51 Billion, and the reported revenue was $8.86 Billion.
HON earnings per share surged more than 7.43% than the estimated EPS. It is essential to note that the company has been constantly reporting positive EPS since Q2 2022. In Q2 and Q3 2023, the company might report $9.17 Billion and $9.28 Billion in revenue. Moreover, the estimated EPS for Q2 and Q3 2023 are $2.21 and $2.23.
The revenue-to-profit conversion of Honeywell International Inc includes 38% of Earnings before interest, taxes, depreciation, and amortization (EBITDA), 24% of Earnings before interest and taxes (EBIT), and 14% net income.
The majority of Honeywell’s income is gathered from Aerospace, Performance Materials & Technology, Safety & Productivity Solutions, including Honeywell Building Technologies and Corporate. The company mainly serves consumers in the United States, Europe, and other regions.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/10/declining-hon-stock-price-is-luring-buyers-rather-than-sellers/