Honeywell International (HON) Hits New Lifetime High Today

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.

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 $367.2 million.
  • HON has traded 218,228 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 2%. HON has a PE ratio of 19. Currently there are 14 analysts that rate Honeywell International a buy, no analysts rate it a sell, and 4 rate it a hold.

The average volume for Honeywell International has been 2.8 million shares per day over the past 30 days. Honeywell International has a market cap of $80.0 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 0.90 and a short float of 0.8% with 1.57 days to cover. Shares are up 2.4% year-to-date as of the close of trading on Wednesday.

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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 increase in stock price during the past year, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:
  • 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. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • HONEYWELL INTERNATIONAL INC has improved earnings per share by 10.2% 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 $5.33 versus $4.92 in the prior year. This year, the market expects an improvement in earnings ($6.10 versus $5.33).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Aerospace & Defense industry average. The net income increased by 9.7% when compared to the same quarter one year prior, going from $1,017.00 million to $1,116.00 million.
  • The current debt-to-equity ratio, 0.55, is low and is below the industry average, implying that there has been successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.95 is somewhat weak and could be cause for future problems.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. In comparison to other companies in the Aerospace & Defense industry and the overall market on the basis of return on equity, HONEYWELL INTERNATIONAL INC has underperformed in comparison with the industry average, but has greatly exceeded that of the S&P 500.

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