One NASDAQ-Listed Electronic Technology Stock to Consider: Honeywell International Inc

Section 1: Company Overview and Fundamentals

Company Overview:

Honeywell International Inc. (NYSE: HON) is an integrated operating company. Its Aerospace Technologies segment supplies products, software, and services for aircraft that it sells to original equipment manufacturers and other customers in a variety of end markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, and others.

Kalkine’s American Tech Report covers the Company Overview, Key positives & negatives, Investment summary, Key investment metrics, Top 10 shareholding, Business updates and insights into company recent financial results, Key Risks & Outlook, Price performance and technical summary, Target Price, and Recommendation on the stock.

Stock Performance:

• The stock has given a return of 14.46% in the last three months, similarly a return of 14.13% in past nine months.
• The stock is leaning towards the higher band of its 52-week range of high USD 225.32 and 52-week low price of USD 185.71, with the current price near an important resistance zone of USD 225.00, with expectations of upward momentum as this level breaks.
• The price is currently above both its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of 69.56.

1.2 The Key Positives, Negatives, and Investment summary

1.3 Top 10 shareholders:

The top 10 shareholders together form ~33.63% of the total shareholding, signifying concentrated shareholding. The Vanguard Group, Inc., and State Street Global Advisors (US), are the biggest shareholders, holding the maximum stake in the company at ~9.32% and ~4.76%, respectively.

Section 2: Business Updates and Corporate Business Highlights

2.1 Recent Updates:

The below picture gives an overview of the recent updates:

 2.2 Insights of Q3FY24:

Section 3: Key Risks & Outlook:

Section 4: Stock Recommendation Summary:

4.1 Price Performance and Technical Summary:

Stock Performance:

• The stock has given a return of 14.46% in the last three months, similarly a return of 14.13% in past nine months.
• The stock is leaning towards the higher band of its 52-week range of high USD 225.32 and 52-week low price of USD 185.71, with the current price near an important resistance zone of USD 225.00, with expectations of upward momentum as this level breaks.
• The price is currently above both its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of 69.56.

4.2 Fundamental Valuation

Valuation Methodology: EV/Sales Multiple Based Relative Valuation

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is November 11, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.