Honeywell International Inc. (NYSE:HON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $154.00 target price on the conglomerate’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.12% from the stock’s previous close.
According to Zacks, “Honeywell’s diversified business portfolio has the potential to earn consistent above-average returns and mitigate operating risks through a balanced organic and inorganic model. A diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positives. The company’s balanced mix of long- and short-cycle businesses, along with a decent organic growth in new products and expansion in high-growth regions augur well on a long-term perspective. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. The company also outperformed the industry year to date. However, adverse foreign currency translations, high R&D expenses to fend off competition and volatility in commodity prices are likely to peg back its growth momentum to some extent.”
HON has been the subject of several other reports. BidaskClub downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $155.00 target price on shares of Honeywell International in a research note on Tuesday, August 22nd. Royal Bank Of Canada upped their target price on shares of Honeywell International from $145.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Morgan Stanley restated an “overweight” rating and issued a $141.00 target price (up from $137.00) on shares of Honeywell International in a research note on Thursday, June 22nd. Finally, Credit Suisse Group restated a “neutral” rating and issued a $139.00 target price (up from $131.00) on shares of Honeywell International in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $141.24.
Shares of Honeywell International (HON) traded up 1.57% during midday trading on Friday, hitting $139.37. 1,852,174 shares of the stock were exchanged. The firm has a 50 day moving average of $137.47 and a 200 day moving average of $132.06. Honeywell International has a 12-month low of $105.25 and a 12-month high of $140.21. The firm has a market cap of $106.00 billion, a P/E ratio of 21.61 and a beta of 0.94.
Honeywell International (NYSE:HON) last announced its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.02. The business had revenue of $10.08 billion during the quarter, compared to the consensus estimate of $9.89 billion. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 earnings per share. Equities analysts forecast that Honeywell International will post $7.09 EPS for the current fiscal year.
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In other Honeywell International news, VP Jennifer H. Mak sold 420 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $136.66, for a total transaction of $57,397.20. Following the sale, the vice president now directly owns 1,363 shares of the company’s stock, valued at $186,267.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy O. Mahoney sold 341,701 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total transaction of $47,182,074.08. Following the sale, the insider now directly owns 294,155 shares in the company, valued at $40,616,922.40. The disclosure for this sale can be found here. Insiders sold 354,108 shares of company stock worth $48,886,463 over the last ninety days. 1.56% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its holdings in shares of Honeywell International by 80.2% during the second quarter. Acadian Asset Management LLC now owns 33,290 shares of the conglomerate’s stock worth $4,436,000 after purchasing an additional 14,816 shares during the period. FTB Advisors Inc. raised its holdings in shares of Honeywell International by 24.9% during the first quarter. FTB Advisors Inc. now owns 2,122 shares of the conglomerate’s stock worth $272,000 after purchasing an additional 423 shares during the period. Mason Street Advisors LLC raised its holdings in shares of Honeywell International by 0.9% during the first quarter. Mason Street Advisors LLC now owns 105,191 shares of the conglomerate’s stock worth $13,135,000 after purchasing an additional 936 shares during the period. Swiss National Bank raised its holdings in shares of Honeywell International by 27.4% during the first quarter. Swiss National Bank now owns 2,565,473 shares of the conglomerate’s stock worth $320,351,000 after purchasing an additional 552,100 shares during the period. Finally, Schmidt P J Investment Management Inc. raised its holdings in shares of Honeywell International by 2.1% during the second quarter. Schmidt P J Investment Management Inc. now owns 30,540 shares of the conglomerate’s stock worth $4,071,000 after purchasing an additional 627 shares during the period. 75.91% of the stock is currently owned by institutional investors.
Honeywell International Company Profile
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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