Wall Street Zen Upgrades Honeywell International (NASDAQ:HON) to Hold

Honeywell International (NASDAQ:HON) was upgraded by Wall Street Zen to a “hold” rating in a report released on Saturday.

Other equities analysts have also issued reports about the company. Citigroup raised their price target on Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wells Fargo & Company lowered their price objective on Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Friday, November 14th. Morgan Stanley dropped their price objective on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Rothschild & Co Redburn lowered their price target on Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $235.58.

Honeywell International Trading Up 0.4%

Shares of Honeywell International stock opened at $195.88 on Friday. The stock has a market capitalization of $124.36 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.62 and a beta of 0.95. Honeywell International has a 52-week low of $169.21 and a 52-week high of $228.04. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. The stock’s 50-day simple moving average is $196.13 and its 200 day simple moving average is $211.25.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The company had revenue of $8.95 billion for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. As a group, research analysts anticipate that Honeywell International will post 10.34 EPS for the current year.

Hedge Funds Weigh In On Honeywell International

Several institutional investors have recently modified their holdings of HON. Laurel Wealth Advisors LLC grew its position in Honeywell International by 23,503.0% during the second quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock valued at $865,506,000 after acquiring an additional 3,700,786 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Honeywell International by 28.8% in the 3rd quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate’s stock valued at $2,146,372,000 after purchasing an additional 2,277,234 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Honeywell International by 130.0% during the 3rd quarter. Marshall Wace LLP now owns 1,845,032 shares of the conglomerate’s stock valued at $388,379,000 after purchasing an additional 1,042,972 shares during the last quarter. Two Sigma Investments LP raised its position in Honeywell International by 424.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,153,754 shares of the conglomerate’s stock worth $242,865,000 after purchasing an additional 933,694 shares during the period. Finally, Vista Cima Wealth Management LLC purchased a new position in Honeywell International in the 1st quarter worth $164,000. 75.91% of the stock is currently owned by institutional investors.

About Honeywell International

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.