Q4 2016 Earnings Estimate for Honeywell International Inc. (HON) Issued By Oppenheimer Holdings
Honeywell International Inc. (NYSE:HON) – Research analysts at Oppenheimer Holdings lowered their Q4 2016 earnings estimates for Honeywell International in a report released on Sunday. Oppenheimer Holdings analyst C. Glynn now forecasts that the brokerage will post earnings per share of $1.76 for the quarter, down from their previous estimate of $1.77. Oppenheimer Holdings currently has a “Outperform” rating and a $122.00 price target on the stock.
Honeywell International (NYSE:HON) last released its quarterly earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.02. The business earned $9.78 billion during the quarter, compared to the consensus estimate of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS.
Other equities analysts have also issued reports about the company. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Honeywell International in a report on Saturday, July 9th. Barclays PLC raised their price target on Honeywell International from $127.00 to $131.00 and gave the stock an “overweight” rating in a report on Monday, July 25th. Zacks Investment Research raised Honeywell International from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Monday, June 27th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Honeywell International in a research note on Monday, July 25th. Finally, Morgan Stanley lifted their price objective on Honeywell International from $129.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 25th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Honeywell International currently has an average rating of “Buy” and an average target price of $122.83.
Honeywell International (NYSE:HON) traded up 0.07% during mid-day trading on Wednesday, reaching $107.51. The company had a trading volume of 931,025 shares. Honeywell International has a 12-month low of $93.71 and a 12-month high of $120.02. The company has a market capitalization of $81.80 billion, a price-to-earnings ratio of 17.01 and a beta of 1.05. The stock has a 50-day moving average of $114.49 and a 200 day moving average of $115.00.
In related news, Vice Chairman Andreas Kramvis sold 1,850 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $114.80, for a total value of $212,380.00. Following the completion of the transaction, the insider now owns 66,441 shares of the company’s stock, valued at approximately $7,627,426.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Cote sold 534,505 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 700,000 shares of the company’s stock, valued at approximately $81,305,000. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased 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 valued at $5,196,607,000 after buying an additional 1,587,804 shares during the period. State Street Corp increased its position in Honeywell International by 1.0% in the first quarter. State Street Corp now owns 27,915,988 shares of the company’s stock valued at $3,127,990,000 after buying an additional 264,413 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Honeywell International by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,359,376 shares of the company’s stock valued at $2,281,268,000 after buying an additional 161,354 shares during the period. FMR LLC increased its position in Honeywell International by 2.7% in the second quarter. FMR LLC now owns 13,721,682 shares of the company’s stock valued at $1,596,106,000 after buying an additional 358,668 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Honeywell International by 3.5% in the second quarter. BlackRock Fund Advisors now owns 8,980,272 shares of the company’s stock worth $1,044,585,000 after buying an additional 303,034 shares during the last quarter. 76.50% of the stock is 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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