In the latest trading session, Honeywell International Inc. (HON) closed at $215.99, marking a +1.12% move from the previous day. This change outpaced the S&P 500's 0.61% gain on the day. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 0.33%.

Prior to today's trading, shares of the company had gained 4.36% over the past month. This has lagged the Conglomerates sector's gain of 12.71% and the S&P 500's gain of 5.36% in that time.

Market participants will be closely following the financial results of Honeywell International Inc. in its upcoming release. The company plans to announce its earnings on October 24, 2024. The company is expected to report EPS of $2.51, up 10.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $9.9 billion, up 7.44% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.10 per share and revenue of $38.98 billion, indicating changes of +10.26% and +6.33%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for Honeywell International Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Honeywell International Inc. is currently sporting a Zacks Rank of #4 (Sell).

In the context of valuation, Honeywell International Inc. is at present trading with a Forward P/E ratio of 21.15. This denotes a premium relative to the industry's average Forward P/E of 18.31.

We can also see that HON currently has a PEG ratio of 2.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Diversified Operations industry currently had an average PEG ratio of 1.92 as of yesterday's close.

The Diversified Operations industry is part of the Conglomerates sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 41% of over 250 industries.