HSBC Cuts Honeywell International (NASDAQ:HON) Price Target to $266.00

Honeywell International (NASDAQ:HON) had its price objective cut by HSBC from $290.00 to $266.00 in a research report report published on Tuesday morning,MarketScreener reports. They currently have a buy rating on the conglomerate’s stock.

A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group reduced their price objective on shares of Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. TD Cowen decreased their price target on Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, October 24th. JPMorgan Chase & Co. raised their target price on Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Finally, Wells Fargo & Company upped their price target on shares of Honeywell International from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Honeywell International currently has an average rating of “Moderate Buy” and an average target price of $244.13.

Honeywell International Stock Performance

NASDAQ:HON opened at $199.87 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. The firm has a market cap of $126.89 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. The firm’s fifty day moving average price is $207.26 and its 200 day moving average price is $218.06. Honeywell International has a 1-year low of $169.21 and a 1-year high of $228.04.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The company had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, sell-side analysts expect that Honeywell International will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a $1.19 dividend. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is 50.16%.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the sale, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Honeywell International

Institutional investors and hedge funds have recently modified their holdings of the business. Amundi increased its position in shares of Honeywell International by 30.2% in the 1st quarter. Amundi now owns 519,882 shares of the conglomerate’s stock worth $107,450,000 after purchasing an additional 120,706 shares during the last quarter. Triton Financial Group Inc acquired a new position in Honeywell International in the second quarter worth about $1,001,000. Baxter Bros Inc. increased its holdings in Honeywell International by 14.6% in the second quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock valued at $8,321,000 after buying an additional 4,543 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Honeywell International by 11.4% in the first quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate’s stock valued at $6,035,000 after buying an additional 2,915 shares during the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd raised its stake in Honeywell International by 40.5% during the first quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 28,800 shares of the conglomerate’s stock valued at $6,098,000 after buying an additional 8,300 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Company Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.