Honeywell's EPS growth has not matched share price growth over the last three years, and EPS estimates do not support the present high P/E multiple. These shares are best suited as a nearterm play. Long-term appreciation prospects and the yield are now subpar due to the stock’s recent ascent in price. We believe a retracement of prices to more appropriate levels is necessary before investing. The green box could ultimately be just one of the first bearish targets.