Honeywell International Inc. (HON): Today's Featured Industrial Goods Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Honeywell International (HON) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods laggard. The sector as a whole closed the day down 2.1%. By the end of trading, Honeywell International fell $1.28 (-2.1%) to $59.96 on average volume. Throughout the day, 3.6 million shares of Honeywell International exchanged hands as compared to its average daily volume of 3.4 million shares. The stock ranged in price between $59.83-$61.49 after having opened the day at $61.31 as compared to the previous trading day's close of $61.24. Other companies within the Industrial Goods sector that declined today were: Guanwei Recycling (GPRC), down 14.8%, LSB Industries (LXU), down 13.4%, Astrotech Corporation (ASTC), down 12.6%, and Aerosonic Corporation (AIM), down 11.7%.

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Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Honeywell International has a market cap of $48.13 billion and is part of the aerospace/defense industry. The company has a P/E ratio of 20.5, above the S&P 500 P/E ratio of 17.7. Shares are up 13% year to date as of the close of trading on Tuesday. Currently there are 16 analysts that rate Honeywell International a buy, no analysts rate it a sell, and four rate it a hold.

TheStreet Ratings rates Honeywell International as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

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For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR (XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 (DOG).

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• Honeywell International Inc. Income Statement