Honeywell International (NYSE:HON) declared that its Board of Directors has initiated a share buyback plan, which authorizes the company to buyback $6.50 billion in shares on Friday, December 8th, EventVestor reports. This buyback authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Honeywell International (NYSE:HON) opened at $153.21 on Tuesday. Honeywell International has a one year low of $113.60 and a one year high of $156.70. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $117,061.69, a price-to-earnings ratio of 22.11, a PEG ratio of 2.36 and a beta of 0.99.

Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The firm had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. research analysts expect that Honeywell International will post 7.06 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were paid a $0.745 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.98 annualized dividend and a dividend yield of 1.95%. This is a boost from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s payout ratio is currently 45.15%.

A number of research analysts have issued reports on HON shares. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research note on Thursday, September 21st. Deutsche Bank reiterated a “buy” rating and set a $171.00 price objective on shares of Honeywell International in a research note on Tuesday, November 28th. Royal Bank of Canada lifted their price objective on Honeywell International from $148.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Citigroup lifted their price objective on Honeywell International from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Finally, Vertical Research reiterated a “buy” rating on shares of Honeywell International in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Honeywell International currently has a consensus rating of “Buy” and an average price target of $154.00.

In other news, Director Bradley T. Sheares sold 1,328 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the transaction, the director now owns 4,002 shares in the company, valued at $585,932.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the transaction, the vice president now owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. 1.56% of the stock is owned by insiders.

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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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