Notable Price Action: Some Traders Are Very Bearish on Honeywell International Inc. After Today’s Gap Down

Notable Price Action: Some Traders Are Very Bearish on Honeywell International Inc. After Today's Gap Down

The stock of Honeywell International Inc. (NYSE:HON) gapped down by $7.44 today and has $100.54 target or 6.00% below today’s $106.96 share price. The 9 months technical chart setup indicates high risk for the $81.61B company. The gap down was reported on Oct, 7 by If the $100.54 price target is reached, the company will be worth $4.90 billion less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 18.19 million shares traded hands or 529.41% up from the average. Honeywell International Inc. (NYSE:HON) has risen 6.90% since March 4, 2016 and is uptrending. It has underperformed by 1.14% the S&P500.

Analysts await Honeywell International Inc. (NYSE:HON) to report earnings on October, 21. They expect $1.70 EPS, up 8.28% or $0.13 from last year’s $1.57 per share. HON’s profit will be $1.30B for 15.73 P/E if the $1.70 EPS becomes a reality. After $1.66 actual EPS reported by Honeywell International Inc. for the previous quarter, Wall Street now forecasts 2.41% EPS growth.

Honeywell International Inc. (NYSE:HON) Ratings Coverage

Out of 16 analysts covering Honeywell International Inc. (NYSE:HON), 11 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 69% are positive. Honeywell International Inc. has been the topic of 36 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Argus Research maintained Honeywell International Inc. (NYSE:HON) on Tuesday, October 20 with “Buy” rating. Argus Research maintained the shares of HON in a report on Tuesday, July 21 with “Buy” rating. The stock of Honeywell International Inc. (NYSE:HON) earned “Overweight” rating by Morgan Stanley on Monday, April 25. The rating was initiated by Robert W. Baird with “Outperform” on Thursday, October 6. As per Tuesday, October 20, the company rating was maintained by S&P Research. The stock has “Strong-Buy” rating given by Vetr on Friday, August 28. RBC Capital Markets maintained Honeywell International Inc. (NYSE:HON) on Monday, October 19 with “Outperform” rating. The stock of Honeywell International Inc. (NYSE:HON) has “Buy” rating given on Tuesday, August 25 by Deutsche Bank. Argus Research maintained the shares of HON in a report on Tuesday, July 26 with “Buy” rating. The company was maintained on Tuesday, April 19 by Citigroup.

According to Zacks Investment Research, “Honeywell International is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control technologies for buildings, homes and industry, automotive products, power generation systems, specialty chemicals, fibers, plastics and electronic and advanced materials. Its operations are conducted by strategic business units, which have been aggregated under four reportable segments: Aerospace Solutions, Automation & Asset Management, Performance Materials and Power & Transportation Products.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.06, from 1.03 in 2016Q1. The ratio turned negative, as 52 funds sold all Honeywell International Inc. shares owned while 466 reduced positions. 85 funds bought stakes while 418 increased positions. They now own 570.07 million shares or 2.94% less from 587.36 million shares in 2016Q1.
Aqr Cap Mngmt holds 0.07% of its portfolio in Honeywell International Inc. (NYSE:HON) for 324,566 shares. State Board Of Administration Of Florida Retirement, a Florida-based fund reported 1.07M shares. Hm Payson & holds 0.05% or 8,725 shares in its portfolio. Moon Cap Ltd Liability last reported 0% of its portfolio in the stock. Klingenstein Fields & Lc owns 353,850 shares or 1.92% of their US portfolio. Victory Capital owns 48,389 shares or 0.02% of their US portfolio. Piedmont Advisors Limited Liability holds 174,018 shares or 0% of its portfolio. Federated Inc Pa has invested 0.01% of its portfolio in Honeywell International Inc. (NYSE:HON). Arrowgrass Cap Prns (Us) Ltd Partnership holds 0.12% or 98,922 shares in its portfolio. Parsons Inc Ri, a Rhode Island-based fund reported 68,016 shares. Gabelli Funds Limited Liability Corporation accumulated 1.54M shares or 1.06% of the stock. Coho Prns Ltd holds 31,392 shares or 0.13% of its portfolio. Regentatlantic Lc last reported 31,490 shares in the company. Papp L Roy & Assocs last reported 2,908 shares in the company. Intact Inv has 0.03% invested in the company for 6,800 shares.

Insider Transactions: Since April 18, 2016, the stock had 0 buys, and 17 insider sales for $137.84 million net activity. 74,010 Honeywell International Inc. (NYSE:HON) shares with value of $8.51M were sold by Kramvis Andreas. Shares for $12.62 million were sold by Adams Katherine L.. Mak Jennifer H had sold 277 shares worth $32,005 on Friday, July 29. 38,630 shares were sold by Mahoney Timothy O., worth $4.45M on Tuesday, May 10. 188,420 shares with value of $21.69M were sold by FRADIN ROGER on Monday, April 18. James Mark R. sold $12.53 million worth of stock or 109,150 shares. 13,000 shares were sold by Mikkilineni Krishna, worth $1.48M on Friday, May 27.

More notable recent Honeywell International Inc. (NYSE:HON) news were published by: which released: “Honeywell CEO Addresses Surprise Shortfall” on October 07, 2016, also with their article: “Relative Strength Alert For Honeywell International” published on October 07, 2016, published: “3 Stocks to Watch on Friday: Gap Inc (GPS), Honeywell International Inc (HON …” on October 07, 2016. More interesting news about Honeywell International Inc. (NYSE:HON) were released by: and their article: “Honeywell International Enters Oversold Territory” published on September 09, 2016 as well as‘s news article titled: “Buzz Stocks: Honeywell International Inc., ArcelorMittal SA (ADR), and Silicon …” with publication date: October 07, 2016.

HON Company Profile

Honeywell International Inc. (Honeywell), incorporated on November 24, 1999, is a technology and manufacturing company. The Firm offers aerospace services and products; turbochargers; control, sensing and security technologies for buildings, homes and industry; chemicals, electronic and materials, and process technology for refining and petrochemicals, and energy products and solutions for homes, business and transportation. The Firm operates in three divisions: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT).

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