Honeywell’s stock performance
Since the beginning of 2019, Honeywell (HON) stock has remained positive. On a year-to-date basis, Honeywell has gained ~26%. The company has outperformed the broad-based S&P 500 (SPY), which has gained 12.6% during the same period. Honeywell’s other industrial peers including General Electric (GE), Textron (TXT) and United Technologies (UTX) have gained 31.3%, 3.1%, and 22.5%, respectively.
Continuing with the success of spin-offs, Honeywell reported strong first-quarter earnings and managed to beat analysts’ expectations. Honeywell also made an upward revision to its 2019 earnings. The company expects its EPS to be $7.90–$8.15 compared to the earlier guidance of $7.80–$8.10. Honeywell expects its organic sales to grow 3%–6% due to continued growth in new client orders. Honeywell’s acquisitions could drive its revenue growth. However, the company could face the challenge of a strong dollar, which could have a negative impact on its revenues and earnings per share.
Moving averages and relative strength index
Currently, Honeywell stock is trading 7.1% above its 100-day moving average of $155.35, which indicates bullishness in the stock. Honeywell’s 14-day RSI (relative strength index) is at 45, which suggests that the stock isn’t overbought or oversold. An RSI score below 30 indicates that the stock might be oversold, while an RSI score above 70 indicates that stock might be overbought.