Honeywell International’s (HON) “Buy” Rating Reaffirmed at Bank of America Corp.
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reiterated by research analysts at Bank of America Corp. in a research note issued on Friday. They currently have a $125.00 price objective on the stock. Bank of America Corp.’s target price would suggest a potential upside of 8.12% from the company’s previous close.
A number of other equities research analysts have also commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Honeywell International in a research note on Monday, June 27th. Morgan Stanley reaffirmed a “buy” rating and issued a $127.00 price objective on shares of Honeywell International in a research note on Tuesday, September 6th. Zacks Investment Research lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $113.35 price objective on shares of Honeywell International in a research note on Friday. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Honeywell International in a research note on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $122.64.
Shares of Honeywell International (NYSE:HON) traded down 7.50% during midday trading on Friday, hitting $106.94. 20,232,083 shares of the company were exchanged. The firm’s 50 day moving average price is $115.59 and its 200 day moving average price is $115.16. Honeywell International has a one year low of $93.71 and a one year high of $120.02. The firm has a market capitalization of $81.37 billion, a price-to-earnings ratio of 16.92 and a beta of 1.05.
Honeywell International (NYSE:HON) last posted its earnings results on Friday, July 22nd. The company reported $1.66 earnings per share for the quarter, topping the Zacks’ 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 period in the previous year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts forecast that Honeywell International will post $6.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a dividend of $0.595 per share. The ex-dividend date was Wednesday, August 17th. This represents a $2.38 annualized dividend and a yield of 2.06%. Honeywell International’s payout ratio is currently 37.66%.
In other Honeywell International news, Vice Chairman Andreas Kramvis sold 1,850 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $114.80, for a total transaction of $212,380.00. Following the completion of the transaction, the insider now owns 66,441 shares in the company, valued at $7,627,426.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer H. Mak sold 277 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $115.54, for a total transaction of $32,004.58. Following the transaction, the vice president now owns 420 shares of the company’s stock, valued at approximately $48,526.80. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Meristem LLP raised its position in shares of Honeywell International by 3.0% in the first quarter. Meristem LLP now owns 4,867 shares of the company’s stock worth $545,000 after buying an additional 140 shares in the last quarter. Investment Centers of America Inc. raised its position in shares of Honeywell International by 10.5% in the first quarter. Investment Centers of America Inc. now owns 19,817 shares of the company’s stock worth $2,219,000 after buying an additional 1,891 shares in the last quarter. Sii Investments Inc. WI raised its position in shares of Honeywell International by 21.2% in the first quarter. Sii Investments Inc. WI now owns 3,536 shares of the company’s stock worth $393,000 after buying an additional 619 shares in the last quarter. Sanders Morris Harris Inc. acquired a new position in shares of Honeywell International during the first quarter worth $856,000. Finally, Arvest Bank Trust Division raised 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 in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.
About Honeywell International
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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