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Honeywell’s Stock Performance since the Beginning of 2019



Honeywell’s stock performance

Since the beginning of 2019, Honeywell (HON) stock has remained positive. On a year-to-date basis, Honeywell has gained 17.0%. The company has outperformed the broad-based S&P 500 (SPY), which has gained 11.1% during the same period. Honeywell’s other industrial peers including 3M (MMM), General Electric (GE), and United Technologies (UTX) have also remained positive with gains of 9.4%, 33.4%, and 20.6%, respectively.

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Honeywell reported strong fourth-quarter earnings and managed to beat analysts’ expectations. Honeywell provided its 2019 earnings guidance of $7.80–$8.10, which represents 6%–10% growth. Looking at the trend, Honeywell has beat analysts’ expectations. Honeywell has continued to bag new client orders, which fueled its organic growth. The company has also acquired a few companies, which could drive its future growth. Honeywell’s growth could have a negative impact due to unfavorable foreign currency and an increase in the cost of raw materials.

If Honeywell manages to outperform its guidance, the stock could continue its upward trend.

Moving averages and relative strength index

Currently, Honeywell stock is trading 6.9% above its 100-day moving average of $144.56, which indicates the bullishness in the stock. However, investors need to be cautious. Honeywell’s 14-day RSI (relative strength index) is at 77, which suggests that the stock has temporarily moved into an overbought position. An RSI score below 30 indicates that a stock might be oversold, while an RSI score above 70 indicates that a stock might be overbought.


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