Honeywell International Inc. to Post Q3 2017 Earnings of $1.73 Per Share, Oppenheimer Holdings Forecasts (HON)
Honeywell International Inc. (NYSE:HON) – Investment analysts at Oppenheimer Holdings cut their Q3 2017 earnings per share (EPS) estimates for Honeywell International in a research note issued on Sunday. Oppenheimer Holdings analyst C. Glynn now expects that the conglomerate will post earnings of $1.73 per share for the quarter, down from their previous forecast of $1.74. Oppenheimer Holdings has a “Outperform” rating and a $155.00 price target on the stock. Oppenheimer Holdings also issued estimates for Honeywell International’s FY2017 earnings at $7.05 EPS and FY2018 earnings at $7.70 EPS.
HON has been the subject of several other research reports. Zacks Investment Research cut shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Credit Suisse Group reissued a “hold” rating and set a $122.00 price target on shares of Honeywell International in a research report on Friday, April 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $141.00 target price (up from $137.00) on shares of Honeywell International in a research report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $141.00 target price on shares of Honeywell International in a research report on Wednesday, April 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $144.00 target price on shares of Honeywell International in a research report on Tuesday, April 11th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Honeywell International currently has an average rating of “Buy” and an average price target of $137.43.
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Shares of Honeywell International (NYSE HON) opened at 137.71 on Tuesday. Honeywell International has a 12 month low of $105.25 and a 12 month high of $137.93. The firm has a 50-day moving average of $134.36 and a 200-day moving average of $127.61. The firm has a market cap of $104.74 billion, a price-to-earnings ratio of 21.35 and a beta of 0.95.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The firm had revenue of $10.08 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same quarter last year, the business posted $1.70 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in HON. Tudor Investment Corp Et Al raised its stake in shares of Honeywell International by 725.8% in the fourth quarter. Tudor Investment Corp Et Al now owns 123,933 shares of the conglomerate’s stock worth $14,358,000 after buying an additional 108,926 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Honeywell International during the fourth quarter worth approximately $919,000. Ancora Advisors LLC raised its stake in shares of Honeywell International by 65.9% in the fourth quarter. Ancora Advisors LLC now owns 71,994 shares of the conglomerate’s stock worth $8,340,000 after buying an additional 28,606 shares in the last quarter. Banco Santander S.A. bought a new stake in shares of Honeywell International during the fourth quarter worth approximately $1,514,000. Finally, Guggenheim Capital LLC raised its stake in shares of Honeywell International by 11.1% in the fourth quarter. Guggenheim Capital LLC now owns 414,492 shares of the conglomerate’s stock worth $48,018,000 after buying an additional 41,262 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.
In other Honeywell International news, Director David M. Cote sold 969,650 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $130.78, for a total transaction of $126,810,827.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer H. Mak sold 5,510 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $131.88, for a total transaction of $726,658.80. Following the sale, the vice president now owns 3,141 shares of the company’s stock, valued at $414,235.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,253,667 shares of company stock valued at $164,049,416. 1.56% of the stock is owned by company insiders.
About Honeywell International
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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