In common with its peer and sometime acquisition target, United Technologies (NYSE:UTX), Honeywell International (NYSE:HON) has had a good 2016 so far. But can the good times continue? Let's take a look at the updated investment thesis for buying the stock in the light of Honeywell's recently released first-quarter results.
The case for buying Honeywell International stock With a trailing P/E ratio of nearly 19, Honeywell isn't an obviously cheap stock, but upon closer inspection, it has plenty of upside potential. In fact, if it merely hits its long-term targets, the case for buying the stock is a strong one. The best argument in its favor rests on its underlying free cash flow generation.
The case for buying Honeywell International stock With a trailing P/E ratio of nearly 19, Honeywell isn't an obviously cheap stock, but upon closer inspection, it has plenty of upside potential. In fact, if it merely hits its long-term targets, the case for buying the stock is a strong one. The best argument in its favor rests on its underlying free cash flow generation.
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