Honeywell International’s (HON) Outperform Rating Reiterated at Oppenheimer Holdings Inc.
Honeywell International Inc. (NYSE:HON)‘s stock had its “outperform” rating reiterated by equities researchers at Oppenheimer Holdings Inc. in a report released on Wednesday. They presently have a $122.00 target price on the stock, down from their previous target price of $128.00. Oppenheimer Holdings Inc.’s price objective points to a potential upside of 15.33% from the stock’s previous close.
HON has been the subject of several other reports. Credit Suisse Group AG reiterated a “hold” rating on shares of Honeywell International in a research report on Saturday, July 9th. Barclays PLC increased their price objective on Honeywell International from $127.00 to $131.00 and gave the stock an “overweight” rating in a research report on Monday, July 25th. Stifel Nicolaus lowered their price objective on Honeywell International from $129.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 25th. Citigroup Inc. reiterated a “buy” rating and issued a $132.00 price objective on shares of Honeywell International in a research report on Tuesday, July 26th. Finally, Royal Bank Of Canada lowered their price objective on Honeywell International from $138.00 to $133.00 and set an “outperform” rating for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $122.83.
Shares of Honeywell International (NYSE:HON) traded up 1.48% on Wednesday, hitting $107.35. The stock had a trading volume of 3,542,138 shares. Honeywell International has a 12-month low of $93.71 and a 12-month high of $120.02. The firm has a market cap of $81.68 billion, a price-to-earnings ratio of 16.98 and a beta of 1.05. The stock has a 50 day moving average of $114.76 and a 200 day moving average of $115.05.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business earned $9.78 billion during the quarter, compared to analyst estimates of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.51 earnings per share. Equities analysts predict that Honeywell International will post $6.68 earnings per share for the current fiscal year.
In other Honeywell International news, CEO David M. Cote sold 534,505 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $116.15, for a total transaction of $62,082,755.75. Following the transaction, the chief executive officer now owns 700,000 shares of the company’s stock, valued at $81,305,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Andreas Kramvis sold 1,850 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $114.80, for a total value of $212,380.00. Following the transaction, the insider now directly owns 66,441 shares in the company, valued at approximately $7,627,426.80. 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. Emerald Acquisition Ltd. purchased a new position in shares of Honeywell International during the second quarter valued at about $351,643,000. Vanguard Group Inc. raised its position in Honeywell International by 3.7% in the second quarter. Vanguard Group Inc. now owns 44,675,101 shares of the company’s stock worth $5,196,607,000 after buying an additional 1,587,804 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Honeywell International by 92.4% in the second quarter. UBS Asset Management Americas Inc. now owns 3,223,146 shares of the company’s stock worth $374,917,000 after buying an additional 1,547,970 shares in the last quarter. Boston Partners raised its position in Honeywell International by 49.6% in the second quarter. Boston Partners now owns 3,319,023 shares of the company’s stock worth $386,068,000 after buying an additional 1,100,961 shares in the last quarter. Finally, Investec Asset Management LTD raised its position in Honeywell International by 79.9% in the first quarter. Investec Asset Management LTD now owns 2,069,606 shares of the company’s stock worth $231,899,000 after buying an additional 918,891 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.
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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