Honeywell International Inc. (HON) Earns “Buy” Rating from Jefferies Group
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reissued by Jefferies Group in a research note issued to investors on Friday. They presently have a $130.00 price objective on the stock. Jefferies Group’s price objective would suggest a potential upside of 12.45% from the stock’s current price.
The analysts wrote, “After the market closed, Honeywell provided restated segment results to account for its new organizational structure, to account for the recent acquisition of Intelligrated and to detail the outlook of the business with the Spin-off of AdvanSix and the divestiture of HTSI. It announced restructuring actions and indicated full year earnings would be in the $6.60 to $6.64 EPS range.””
Several other research firms have also commented on HON. Credit Suisse Group AG restated a “hold” rating on shares of Honeywell International in a report on Saturday, July 9th. Deutsche Bank AG reiterated a “buy” rating and set a $113.00 price objective on shares of Honeywell International in a research note on Thursday, August 25th. Morgan Stanley set a $130.00 price objective on shares of Honeywell International and gave the company a “buy” rating in a research note on Monday, August 22nd. Citigroup Inc. reiterated a “buy” rating and set a $132.00 price objective on shares of Honeywell International in a research note on Thursday, June 30th. Finally, Zacks Investment Research lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $122.95.
Shares of Honeywell International (NYSE:HON) traded down 8.56% during midday trading on Friday, reaching $105.71. 13,139,984 shares of the company traded hands. Honeywell International has a 12 month low of $93.71 and a 12 month high of $120.02. The stock has a market capitalization of $80.43 billion, a price-to-earnings ratio of 16.72 and a beta of 1.05. The company’s 50 day moving average is $115.59 and its 200-day moving average is $115.16.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.02. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.13 billion. During the same quarter last year, the firm posted $1.51 earnings per share. Honeywell International’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Honeywell International will post $6.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were paid a dividend of $0.595 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 2.06%. Honeywell International’s dividend payout ratio (DPR) is currently 37.66%.
In other news, insider Timothy O. Mahoney sold 600 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $116.29, for a total transaction of $69,774.00. Following the transaction, the insider now directly owns 68,398 shares of the company’s stock, valued at $7,954,003.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Cote sold 534,505 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $116.15, for a total value of $62,082,755.75. Following the transaction, the chief executive officer now directly owns 700,000 shares in the company, valued at $81,305,000. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Krilogy Financial LLC boosted its position in shares of Honeywell International by 0.3% in the second quarter. Krilogy Financial LLC now owns 2,539 shares of the company’s stock worth $295,000 after buying an additional 8 shares during the period. Kanaly Trust Co boosted its position in shares of Honeywell International by 0.8% in the second quarter. Kanaly Trust Co now owns 1,823 shares of the company’s stock worth $212,000 after buying an additional 14 shares during the period. Hudock Capital Group LLC boosted its position in shares of Honeywell International by 0.5% in the second quarter. Hudock Capital Group LLC now owns 4,481 shares of the company’s stock worth $521,000 after buying an additional 22 shares during the period. Arvest Bank Trust Division boosted its position in shares of Honeywell International by 0.7% in the first quarter. Arvest Bank Trust Division now owns 3,402 shares of the company’s stock worth $381,000 after buying an additional 25 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in shares of Honeywell International by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 4,570 shares of the company’s stock worth $532,000 after buying an additional 27 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Honeywell International Company Profile
Honeywell International Inc (Honeywell) is a technology and manufacturing company. The Company operates in three segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). Its Aerospace segment supplies aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors.
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