Why Honeywell Stock Is Up Today
Honeywell International (NASDAQ: HON) reported first-quarter earnings that topped expectations and the company raised its full-year profit forecast. Investors were pleased, sending Honeywell shares up 5% as of 10:30 am ET.
Honeywell, an industrial conglomerate focused on aerospace, automation, and energy, earned $2.51 per share in the first quarter on revenue of $9.8 billion, topping Wall Street's expectation for $2.21 per share in earnings on sales of $9.6 billion. Earnings were up 7% year over year, while revenue was up 8% including acquisitions.
The company's backlog grew by 8%, led by strength in its building automation and energy units.
Source Fool.com
Honeywell International Stock
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
With a target price of 232 € there is a slightly positive potential of 19.5% for Honeywell International compared to the current price of 194.14 €.