Why Honeywell International Inc. (HON) is a Top Growth Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Honeywell International Inc. (HON)
Honeywell International Inc. has solid footprints in the aerospace industry, with commercial aviation and defense being two major business sources. Opportunities within unmanned aerial systems (UAS) and urban air mobility (UAM) industries are encouraging too. The company’s unit — Unmanned Aerial Systems — is working to gain leverage from these promising markets. Launch of SATCOM — by far smallest and lightest satellite communication system for unmanned aerial vehicles — is a step forward in the direction.
HON boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 8.7% year-over-year for 2024, while Wall Street anticipates its top line to improve by 4.8%.
Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $9.96 per share for 2024. HON boasts an average earnings surprise of 2.7%.
Looking at cash flow, Honeywell International Inc. is expected to report cash flow growth of 1.5% this year; HON has generated cash flow growth of 0.4% over the past three to five years.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, HON should be on investors' short lists.
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Honeywell International Inc. (HON) : Free Stock Analysis Report
