Honeywell International Inc. (HON) Stock Rating Lowered by Zacks Investment Research
Honeywell International Inc. (NYSE:HON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Honeywell is susceptible to material price inflation, which in turn affects its profitability. Adverse foreign currency translations and volatility in commodity prices related to Brexit are likely to peg back Honeywell’s growth momentum. High R&D costs could also be a drag on its Aerospace segment margin. In addition, Honeywell is highly dependent on its supply chain, and any operating snag in one of the links might have an adverse impact. Nevertheless, Honeywell has managed to beat estimates thrice over the trailing four quarters, for a modest average positive surprise of 0.97%. Honeywell’s diversified business portfolio lends it the potential to earn consistent above-average returns in the upcoming quarters and mitigates operating risks. Honeywell is also divesting its $1.3 billion resins and chemicals business to focus on high-margin businesses and realigning its ACS business segment into two new segments.”
Several other equities analysts also recently commented on the stock. Barclays PLC set a $128.00 price target on shares of Honeywell International and gave the company a “buy” rating in a report on Wednesday, October 12th. Argus reiterated a “buy” rating on shares of Honeywell International in a report on Wednesday, October 12th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $122.00 price target (down from $128.00) on shares of Honeywell International in a report on Wednesday, October 12th. Morgan Stanley reiterated an “overweight” rating and set a $124.00 price target (down from $127.00) on shares of Honeywell International in a report on Monday, October 10th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $133.00 price target (down from $138.00) on shares of Honeywell International in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $123.00.
Honeywell International (NYSE:HON) opened at 107.87 on Monday. Honeywell International has a 52 week low of $93.71 and a 52 week high of $120.02. The company has a market capitalization of $82.08 billion, a PE ratio of 17.07 and a beta of 1.05. The stock’s 50 day moving average price is $113.51 and its 200-day moving average price is $114.91.
Honeywell International (NYSE:HON) last announced its earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The firm had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.13 billion. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 EPS. On average, equities research analysts predict that Honeywell International will post $6.68 earnings per share for the current fiscal year.
In other Honeywell International news, insider Timothy O. Mahoney sold 600 shares of Honeywell International 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 owns 68,398 shares of the company’s stock, valued at approximately $7,954,003.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David M. Cote sold 534,505 shares of Honeywell International 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 approximately $81,305,000. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its position in Honeywell International by 5.8% in the second quarter. Capstone Asset Management Co. now owns 129,863 shares of the company’s stock valued at $15,106,000 after buying an additional 7,168 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in shares of Honeywell International by 7.0% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 145,296 shares of the company’s stock valued at $16,901,000 after buying an additional 9,517 shares in the last quarter. National Pension Service raised its stake in shares of Honeywell International by 4.2% in the first quarter. National Pension Service now owns 383,695 shares of the company’s stock valued at $42,993,000 after buying an additional 15,529 shares in the last quarter. LPL Financial LLC raised its stake in shares of Honeywell International by 52.7% in the first quarter. LPL Financial LLC now owns 416,083 shares of the company’s stock valued at $46,510,000 after buying an additional 143,685 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Honeywell International by 31.6% in the first quarter. Panagora Asset Management Inc. now owns 317,482 shares of the company’s stock valued at $35,574,000 after buying an additional 76,249 shares in the last quarter. 76.49% 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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