Royal Bank of Canada Boosts Honeywell International (HON) Price Target to $163.00
Honeywell International (NYSE:HON) had its price objective lifted by Royal Bank of Canada to $163.00 in a research note released on Thursday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the conglomerate’s stock.
HON has been the subject of a number of other reports. Cowen reiterated a buy rating and set a $150.00 price target on shares of Honeywell International in a research report on Tuesday, October 10th. Vertical Research reiterated a buy rating on shares of Honeywell International in a research report on Friday, October 20th. Citigroup lifted their price target on shares of Honeywell International from $155.00 to $170.00 and gave the company a buy rating in a research report on Monday, October 9th. Jefferies Group reiterated a buy rating and set a $155.00 price target on shares of Honeywell International in a research report on Tuesday, August 22nd. Finally, Oppenheimer lifted their price target on shares of Honeywell International from $155.00 to $168.00 and gave the company an outperform rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $159.79.
Shares of Honeywell International (NYSE HON) opened at $154.25 on Thursday. Honeywell International has a 12-month low of $113.60 and a 12-month high of $156.70. The firm has a market cap of $116,647.13, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35.
Honeywell International declared that its board has approved a stock buyback plan on Friday, December 8th that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the conglomerate to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were paid a $0.745 dividend. This is a positive change from Honeywell International’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.98 annualized dividend and a dividend yield of 1.93%. Honeywell International’s dividend payout ratio (DPR) is presently 45.15%.
In other news, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were 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 of the company’s stock, valued at $585,932.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the completion of the transaction, the vice president now directly 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. Company insiders own 1.56% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Schulhoff & Co. Inc. lifted its stake in Honeywell International by 1.8% in the second quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock worth $1,524,000 after acquiring an additional 203 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Honeywell International by 5.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock worth $29,184,000 after acquiring an additional 11,091 shares during the last quarter. Edgestream Partners L.P. lifted its stake in Honeywell International by 331.4% in the first quarter. Edgestream Partners L.P. now owns 13,555 shares of the conglomerate’s stock worth $1,693,000 after acquiring an additional 10,413 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Honeywell International by 80.2% in the second quarter. Acadian Asset Management LLC now owns 33,290 shares of the conglomerate’s stock worth $4,436,000 after acquiring an additional 14,816 shares during the last quarter. Finally, Buckingham Capital Management Inc. lifted its stake in Honeywell International by 3.1% in the first quarter. Buckingham Capital Management Inc. now owns 25,462 shares of the conglomerate’s stock worth $3,179,000 after acquiring an additional 766 shares during the last quarter. Institutional investors own 76.04% 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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