Vertical Research Downgrades Honeywell International (NASDAQ:HON) to Hold

Honeywell International (NASDAQ:HON) was downgraded by research analysts at Vertical Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They presently have a $220.00 target price on the conglomerate’s stock. Vertical Research’s price objective indicates a potential upside of 10.77% from the company’s previous close.

HON has been the subject of a number of other research reports. BNP Paribas upgraded Honeywell International to a “hold” rating in a research report on Wednesday, December 3rd. Mizuho decreased their price objective on Honeywell International from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday. Barclays reduced their price target on Honeywell International from $269.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Honeywell International from $265.00 to $264.00 and set a “buy” rating for the company in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Honeywell International has a consensus rating of “Hold” and a consensus price target of $234.30.

Honeywell International Price Performance

NASDAQ:HON traded up $2.74 during trading hours on Monday, hitting $198.62. 286,163 shares of the company’s stock traded hands, compared to its average volume of 1,715,647. The firm has a market cap of $126.10 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.62 and a beta of 0.95. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The business’s fifty day simple moving average is $196.13 and its two-hundred day simple moving average is $211.25. Honeywell International has a 52 week low of $169.21 and a 52 week high of $228.04.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion during 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. On average, research analysts anticipate that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Institutional Trading of Honeywell International

Several hedge funds and other institutional investors have recently made changes to their positions in HON. BankPlus Wealth Management LLC grew its position in shares of Honeywell International by 2.2% during the 2nd quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 43 shares during the period. Summit Wealth Group LLC raised its stake in Honeywell International by 4.3% during the 2nd quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate’s stock worth $260,000 after acquiring an additional 46 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Honeywell International by 1.8% in the second quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate’s stock worth $628,000 after purchasing an additional 47 shares during the period. Bar Harbor Wealth Management increased its stake in shares of Honeywell International by 0.3% in the second quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate’s stock worth $3,538,000 after purchasing an additional 47 shares in the last quarter. Finally, Nova R Wealth Inc. raised its position in shares of Honeywell International by 3.0% during the 3rd quarter. Nova R Wealth Inc. now owns 1,594 shares of the conglomerate’s stock valued at $335,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Company Profile

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.