Honeywell price target lowered to $235 from $253 at RBC Capital

RBC Capital lowered the firm’s price target on Honeywell (HON) to $235 from $253 and keeps a Sector Perform rating on the shares. The company delivered a clean Q3 operating beat-and-raise, driven by 19% growth in aerospace aftermarket, while its organic orders growth of 22% was another positive, the analyst tells investors in a research note. Honeywell management continues to orchestrate its transformative three-way breakup, smoothly stripping Solstice out of 2025 guidance as it positions for the October 30 spin, the firm added.