The Positive Signs That Drove Honeywell International Stock 23.6% Higher in November
Shares of Honeywell International (NYSE: HON) surged 23.6% in the month of November, according to data provided by S&P Global Market Intelligence. After a muted performance in October, the stock started to gain momentum after Honeywell released its third-quarter numbers on Oct. 30.
Honeywell's third-quarter organic sales dipped 14% year over year, but there were several green shoots. First, Honeywell's numbers improved sequentially, reflecting a slow yet visible recovery in end markets that were hit hard by the COVID-19 lockdowns.
Second, Honeywell used the COVID-19 crisis to shift focus to and ramp up production of timely products like personal protective equipment (PPE) kits. The move paid off, as evidenced by the 8% growth in Q3 sales from its safety and productivity solutions segment. All three of Honeywell's other segments -- aerospace, building technologies, and performance materials and technologies -- reported sales declines.
Source Fool.com
