Honeywell International Inc. (HON) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Honeywell International Inc. (NYSE:HON) from a hold rating to a buy rating in a research note issued to investors on Friday. They currently have $154.00 price target on the conglomerate’s stock.
According to Zacks, “Honeywell’s diversified business portfolio has the potential to earn consistent above-average returns and mitigate operating risks through a balanced organic and inorganic model. A diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positives. The company’s balanced mix of long- and short-cycle businesses, along with a decent organic growth in new products and expansion in high-growth regions augur well on a long-term perspective. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. The company also outperformed the industry year to date. However, adverse foreign currency translations, high R&D expenses to fend off competition and volatility in commodity prices are likely to peg back its growth momentum to some extent.”
A number of other research analysts have also weighed in on HON. Royal Bank Of Canada set a $148.00 price target on shares of Honeywell International and gave the company a buy rating in a research note on Sunday, August 27th. Jefferies Group LLC reissued a buy rating and issued a $155.00 target price on shares of Honeywell International in a research note on Tuesday, August 22nd. Morgan Stanley raised their price target on shares of Honeywell International from $141.00 to $145.00 and gave the stock an overweight rating in a report on Wednesday, August 16th. Cowen and Company restated an outperform rating and set a $150.00 price target (up previously from $140.00) on shares of Honeywell International in a report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of Honeywell International from a hold rating to a buy rating in a report on Sunday, August 6th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $141.24.
Honeywell International (HON) traded up 1.27% during trading on Friday, reaching $138.95. The company had a trading volume of 4,594,069 shares. Honeywell International has a 52 week low of $105.25 and a 52 week high of $140.21. The firm has a market capitalization of $105.68 billion, a P/E ratio of 21.55 and a beta of 0.94. The stock has a 50 day moving average price of $137.53 and a 200 day moving average price of $132.16.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.02. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The company had revenue of $10.08 billion for the quarter, compared to the consensus estimate of $9.89 billion. During the same period last year, the firm earned $1.70 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Honeywell International will post $7.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, August 16th. Honeywell International’s payout ratio is 41.24%.
In other Honeywell International news, insider Timothy O. Mahoney sold 341,701 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $138.08, for a total transaction of $47,182,074.08. Following the transaction, the insider now directly owns 294,155 shares in the company, valued at approximately $40,616,922.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer H. Mak sold 420 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $136.66, for a total transaction of $57,397.20. Following the transaction, the vice president now owns 1,363 shares in the company, valued at $186,267.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,108 shares of company stock valued at $48,886,463. Company insiders own 1.56% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Crestwood Advisors Group LLC bought a new position in shares of Honeywell International in the 1st quarter worth about $100,000. Hanson McClain Inc. lifted its position in Honeywell International by 0.4% in the 1st quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock valued at $101,000 after purchasing an additional 3 shares during the last quarter. Burt Wealth Advisors lifted its position in Honeywell International by 65.4% in the 2nd quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock valued at $101,000 after purchasing an additional 300 shares during the last quarter. Guidant Wealth Advisors lifted its position in Honeywell International by 15.8% in the 2nd quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after purchasing an additional 104 shares during the last quarter. Finally, Mosaic Family Wealth LLC lifted its position in Honeywell International by 11.4% in the 2nd quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock valued at $102,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 75.91% of the company’s stock.
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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