Honeywell Stock Falls on Forecast Cut

Core Viewpoint - Honeywell International Inc's stock is experiencing a significant decline despite better-than-expected second-quarter earnings and sales growth, primarily due to a reduction in full-year guidance [1] Financial Performance - The company's industrial automation business saw an 8% year-over-year decline, while the aerospace business grew by 16%. Sales in building and energy-related sectors increased by 4% and 2%, respectively [1] Stock Movement - As of the latest check, Honeywell's stock was down 5.2% at $202.63, reaching a low of$199, marking its worst daily percentage loss since July 27, 2023. This decline has brought the stock to its lowest levels since late May, contributing to a negative performance in 2024 [2] Options Activity - In the options market, there were 3,750 calls and 3,073 puts exchanged, which is four times the average volume for that time. The most popular option was the August 230 call, followed by the September 210 put, with positions being sold to open at the weekly 7/26 205-strike call [3] Analyst Ratings - Following the earnings report, analysts have not made any adjustments. Among 17 brokerages covering the stock, 11 have a "strong buy" rating and six a "hold" rating. The 12-month consensus price target is $226.70, indicating a 12.2% premium to current stock levels [4]