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Honeywell International (HON) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Honeywell International ( HON) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Honeywell International as such a stock due to the following factors:

  • HON has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $313.3 million.
  • HON has traded 1,200 shares today.
  • HON is trading at a new lifetime high.

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More details on HON:

Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. The stock currently has a dividend yield of 1.9%. HON has a PE ratio of 19.1. Currently there are 14 analysts that rate Honeywell International a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Honeywell International has been 2.6 million shares per day over the past 30 days. Honeywell International has a market cap of $75.5 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 1.28 and a short float of 0.6% with 1.48 days to cover. Shares are up 4.2% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

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

Highlights from the ratings report include:

  • HON's revenue growth has slightly outpaced the industry average of 3.1%. Since the same quarter one year prior, revenues slightly increased by 3.8%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The current debt-to-equity ratio, 0.52, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.03, which illustrates the ability to avoid short-term cash problems.
  • The stock has risen over the past year as investors have generally rewarded the company for its earnings growth and other positive factors like the ones we have cited in this report. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
  • HONEYWELL INTERNATIONAL INC has improved earnings per share by 5.8% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, HONEYWELL INTERNATIONAL INC increased its bottom line by earning $4.92 versus $3.70 in the prior year. This year, the market expects an improvement in earnings ($5.55 versus $4.92).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Aerospace & Defense industry average. The net income increased by 5.3% when compared to the same quarter one year prior, going from $966.00 million to $1,017.00 million.

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