Growth ConcernsHoneywell's 2.5% cross-cycle organic growth has trended well below peers.
Market ValuationTrading at a lower multiple compared to the EEMI group indicates challenges in achieving a better valuation.
Operational ChallengesUnexpected issues in the company's longer cycle businesses, such as customer and shipment delays in Commercial Aero, HPS, and UOP, have lowered operational expectations for the fourth quarter.