Honeywell Stock Stumbles as Analysts Stick to Bullish Outlook

Honeywell International Inc., a Charlotte-based company with a market cap of $77 billion, has seen its stock underperform the broader market over the past year. While the S&P 500 Index ($SPX) surged 19.9% and the State Street Industrials Select Sector SPDR ETF (XLI) rose 23.5%, HON's stock grew only 7.1%. This trend continued in 2026, with XLI outpacing HON by a wider margin.

On June 29, Honeywell announced the completion of its spin-off of its Aerospace Technologies business and introduced a new ticker for the spin-off company, trading on NASDAQ as HONA. However, investors did not react positively to the split, leading to a 6.8% decline in its stock value that day.

Despite this setback, analysts remain bullish on HON's prospects. Among the 23 analysts covering the company, the consensus is a 'Moderate Buy', with 14 'Strong Buy' ratings and a mean price target of $266.90 offering a 16% upside from current levels. J.P. Morgan analyst Chigusa Katoku maintained a 'Buy' rating on HON and set a price target of $262, while the Street-high target of $299.79 implies a robust 30.3% upside.