HON - Honeywell: A Cheap Dividend Growth Stock
2024-02-08 22:41:52 ET
Summary
- Honeywell International's profits beat estimates, but its sales forecast for 2024 disappointed, leading to a 5% stock price dip.
- The Aerospace segment is performing well, driven by strong demand from the commercial aviation industry.
- HON expects to grow its net income and add $1.3 billion to its free cash flow this year.
Profits of Honeywell International Inc. ( HON ) topped analysts' estimates last week by a small margin, but the industrial conglomerate's sales forecast for 2024 disappointed and triggered a 5% dip in the stock price, thereby creating a buying opportunity, particularly for passive income investors.
Robust demand from the commercial aviation industry has led, however, to decent momentum in Honeywell International's Aerospace business which is smashing it right now....
Honeywell: A Cheap Dividend Growth Stock