In the latest close session, Honeywell International Inc. (HON Quick QuoteHON - Free Report) was up +2.6% at $211.85. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, added 0.45%.

Shares of the company have depreciated by 3.86% over the course of the past month, outperforming the Conglomerates sector's loss of 5.68%, and lagging the S&P 500's gain of 1.27%.

The upcoming earnings release of Honeywell International Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $2.16, marking a 61.7% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.05 billion, down 51.45% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.29 per share and revenue of $20.31 billion. These totals would mark changes of -57.62% and -49.64%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Honeywell International Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Honeywell International Inc. presently features a Zacks Rank of #3 (Hold).

Investors should also note Honeywell International Inc.'s current valuation metrics, including its Forward P/E ratio of 24.92. For comparison, its industry has an average Forward P/E of 13.73, which means Honeywell International Inc. is trading at a premium to the group.

Meanwhile, HON's PEG ratio is currently 3.46. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 1.4.

The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 39, this industry ranks in the top 16% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.