Why Honeywell International Inc. (HON) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
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 is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 1.5% over the past one week and up 0.3% over the past four weeks. HON has gained 7.1% in the last one-year period as well. Looking at trading volume, an average of 2,711,650.50 shares exchanged hands over the last 20 trading days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $9.96 per share. HON boasts an average earnings surprise of 2.7%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding HON to their portfolios.
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Honeywell International Inc. (HON) : Free Stock Analysis Report
