(3) HON stock is fully valued We estimate Honeywell’s Valuation to be $208 per share, which aligns with the current market price of $206. This represents a 22x P/E multiple based on our EPS estimate of $9.42 for 2023, compared to the last four-year average of 23x, implying that HON stock is appropriately priced. Despite higher inflation and the Fed raising interest rates, HON stock has risen 1% in the last twelve months, compared to an 11% fall for the broader S&P500 index.