Honeywell International Inc. (HON) shares rallied 3.7% in the last trading session to close at $236. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% loss over the past four weeks.

Shares of Honeywell rallied as the company announced that it has been actively following its business transformation strategy that aims to unlock values for its shareholders. The company recently declared that it has made significant progress on the possible spinoff of its Aerospace business. It will provide an update on the same when it reports its fourth-quarter 2024 earnings.

In October 2023, HON announced its plan to realign its business segments to three megatrends, which are automation, the future of aviation and energy transition. The company believes that its realignment plan will enable it to optimize its business portfolio and deliver sustained growth.

This company is expected to post quarterly earnings of $2.49 per share in its upcoming report, which represents a year-over-year change of -4.2%. Revenues are expected to be $9.9 billion, up 4.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Honeywell International, the consensus EPS estimate for the quarter has been revised 16.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HON going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Honeywell International is part of the Zacks Diversified Operations industry. Carlisle (CSL), another stock in the same industry, closed the last trading session 0.9% lower at $416.24. CSL has returned -5.7% in the past month.

Carlisle's consensus EPS estimate for the upcoming report has changed -2.5% over the past month to $4.51. Compared to the company's year-ago EPS, this represents a change of +8.2%. Carlisle currently boasts a Zacks Rank of #3 (Hold).

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