Strength Seen in Honeywell International (HON): Can Its 3.7% Jump Turn into More Strength?

Honeywell International Inc. HON shares rallied 3.7% in the last trading session to close at $229.86. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 50.3% loss over the past four weeks.HON's shares got a boost from growing investor optimism following the successful completion of its Aerospace Technologies spin-off. The separation completed Honeywell's portfolio transformation, creating three independent companies—Honeywell Technologies, Honeywell Aerospace and Solstice Advanced Materials. As a standalone company, Honeywell Technologies is now focused on industrial automation, offering automation solutions, software and services that strengthen its long-term growth prospects.This company is expected to post quarterly earnings of $4.83 per share in its upcoming report, which represents a year-over-year change of -12.2%. Revenues are expected to be $9.55 billion, down 7.7% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Honeywell International, the consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HON going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Honeywell International belongs to the Zacks Diversified Operations industry. Another stock from the same industry, Posco PKX, closed the last trading session 4.2% higher at $52.12. Over the past month, PKX has returned -27%.Posco's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.85. Compared to the company's year-ago EPS, this represents a change of +142.9%. Posco currently boasts a Zacks Rank of #3 (Hold).Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks