Summary
The Momentum Growth Quotient for the company is 11.52, which is 20.62% higher than the average for the S&P 100.
Shares present a forward rate of return of 11.24% at the current price.
ChartMasterPro upward target price of $154.00.
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Shares of Honeywell International Inc (HON) are down 8.20% since peaking on Oct. 1, 2018, and in my opinion, the shares of this consumer products, engineering, and aerospace conglomerate are an attractive buy at current price levels. The company has a solid history of generating impressive earnings growth, and the future growth ratios point to continued growth over the next twelve months. I lay out my bullish argument for the company below by reviewing some pertinent fundamental and technical aspects of the stock.
Momentum Growth Quotient
My Momentum Growth Quotient (MGQ) plays a critical part when it comes to determining if I am going to go long or short a stock. Generally, I only want to go long a stock with an MGQ higher than that of the S&P 100, and I want to go short a stock with an MGQ lower than that of the index (for a more detailed explanation of how I calculate the MGQ, please see my blog post).
As of the end of October 2018, the MGQ for the S&P 100 was 9.21.
The current MGQ for HON stands at 11.24, which implies a 20.62% higher growth rate compared to the S&P 100. This tells us that HON has strong future growth potential and is a good candidate for a long position.
