Honeywell InternationalNASDAQ: HON

Honeywell reported better-than-expected profits in Q3 2024 but reduced its full-year sales and profit forecast due to cost pressures and weaker performance in Industrial Automation. Aerospace Technologies and Building Automation segments showed strong double-digit sales growth, helping to offset a 5% sales decline in Industrial Automation. Despite the sell-off, Honeywell remains appealing for passive income investors with a reliable 2% dividend yield and a lower valuation, especially with potential for long-term dividend growth.

CHARLOTTE, N.C., Nov. 1, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) has announced that it will take part in several investor conferences in the fourth quarter.

Honeywell announced its Q3 earnings, showing strong growth in Aerospace Technologies, even though Industrial Automation is facing some challenges. The company's strategies to improve profit margins are working well, leading to a positive forecast for earnings. HON stock may be undervalued if revenue growth picks up again in 2025 and later.

Nigel Coe from Wolfe Research has changed his rating on Honeywell stock from Buy to Hold and has taken away the $233 price target.

Honeywell announced that its yearly sales are expected to be lower than what Wall Street had predicted, and it also fell short of quarterly revenue forecasts. This comes as the large industrial company faces ongoing supply chain issues and challenges in its industrial automation sector.

HON's results for the third quarter of 2024 show improvement due to growth in the commercial aviation and defense & space sectors. However, ongoing weakness in the warehouse and workflow solutions area negatively impacts overall performance.

Honeywell International Inc. (NASDAQ:HON) will hold its Q3 2024 Earnings Conference Call on October 24, 2024, at 8:30 AM ET. The call will feature company representatives, including Sean Meakim, Vimal Kapur, and Greg Lewis, along with analysts from various financial institutions. Participants are currently in listen-only mode as the call begins.

While the revenue and earnings per share (EPS) for Honeywell International (HON) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

Honeywell International (HON) saw its shares drop on Thursday after the company fell short of sales expectations and reduced its revenue forecast due to a decrease in demand for its industrial automation products.