Honeywell International Inc. (Honeywell (HON)) reaffirmed its full-year 2026 financial outlook on Monday, just ahead of the planned June 29 spin-off of its aerospace business. The company also introduced a preliminary forecast for the business that will remain, which will operate as Honeywell Technologies.

Honeywell maintained its fiscal 2026 adjusted earnings per share outlook of $10.35 to $10.65, compared with the Wall Street consensus estimate of $10.51. The company also reaffirmed its sales guidance of $38.8 billion to $39.8 billion, versus analysts' expectations of $39.55 billion. Organic sales growth is still expected to come in at 3% to 6%. The guidance update comes ahead of the company's investor conference call and its June 11 Investor Day.

Honeywell also unveiled a preliminary 2026 outlook for Honeywell Technologies, the business that will remain after the aerospace separation. The company expects sales of $19.9 billion to $20.2 billion, with organic sales growth of 2% to 3%. Adjusted earnings per share are projected at $3.95 to $4.15, representing growth of 22% to 28%, while free cash flow is expected to be about $2 billion.

The forecast excludes the aerospace business and reflects Honeywell's ongoing portfolio reshaping. It incorporates the planned divestitures of Productivity Solutions and Services and Warehouse and Workflow Solutions, both expected to close by the fourth quarter, as well as the anticipated acquisition of Johnson Matthey Catalyst Technologies, which is expected to close in the third quarter.

Honeywell also said it will adjust the presentation of certain non-GAAP results by removing pension-related income and excluding Quantinuum Inc. (Quantinuum (QNT)) consolidated results following the quantum computing company's recent initial public offering. The company said the changes are intended to provide investors with a clearer view of the performance of its ongoing operations.

HON stock is trading modestly lower on Monday, lagging a risk-on tape and continuing to digest a pullback from its spring highs. The Nasdaq is up 2.51% while the S&P 500 has gained 0.99%.

Honeywell continues to face near-term technical pressure. The stock is trading about 4.5% below both its 20-day and 50-day simple moving averages and 6.4% below its 100-day moving average, signaling that momentum remains weak.

Shares are holding just above the 200-day simple moving average of $212.80, a level that could serve as important long-term support. The moving average convergence divergence indicator remains below its signal line, and the negative histogram suggests buying momentum has faded.

The longer-term outlook remains more constructive, with the 50-day moving average still above the 200-day moving average following a golden cross formed in February. However, the stock may need to regain the low-$220 range, where several moving averages converge, to improve sentiment.

Key resistance stands near $221, while support is around $208 if shares break below the 200-day average.

Because HON carries significant weight in several ETFs, any significant inflows or outflows for these funds will likely force automatic buying or selling of the stock. Notable ETFs with HON exposure include:

• Invesco Aerospace & Defense ETF (PPA): 4.68% Weight
• Themes Transatlantic Defense ETF (NATO): 5.39% Weight
• BrandywineGLOBAL-Dynamic US Large Cap Value ETF (DVAL): 4.22% Weight

Price Action: Honeywell shares were down 0.24% at $213.46 at the time of publication on Monday.