Investors Buy Honeywell International Inc. (HON) on Weakness
Investors purchased shares of Honeywell International Inc. (NYSE:HON) on weakness during trading on Monday. $71.54 million flowed into the stock on the tick-up and $57.74 million flowed out of the stock on the tick-down, for a money net flow of $13.80 million into the stock. Of all stocks tracked, Honeywell International had the 24th highest net in-flow for the day. Honeywell International traded down ($0.27) for the day and closed at $118.57
Several research analysts have recently issued reports on the stock. Credit Suisse Group AG reiterated a “hold” rating on shares of Honeywell International in a report on Saturday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Honeywell International in a report on Wednesday, July 6th. Citigroup Inc. reiterated a “buy” rating and issued a $132.00 price objective on shares of Honeywell International in a report on Thursday, June 30th. Morgan Stanley reiterated a “buy” rating and issued a $126.00 price objective on shares of Honeywell International in a report on Thursday, June 30th. Finally, Zacks Investment Research upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Monday, June 27th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Honeywell International has an average rating of “Buy” and an average price target of $120.73.
The company has a 50-day moving average of $115.46 and a 200 day moving average of $109.61. The firm has a market cap of $90.36 billion and a P/E ratio of 19.25.
Honeywell International (NYSE:HON) last released its quarterly earnings results on Friday, April 22nd. The company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.03. The business earned $9.52 billion during the quarter, compared to analyst estimates of $9.37 billion. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. Equities research analysts forecast that Honeywell International Inc. will post $6.66 earnings per share for the current year.
In related news, VP Krishna Mikkilineni sold 13,000 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $114.10, for a total value of $1,483,300.00. Following the transaction, the vice president now directly owns 75,355 shares in the company, valued at $8,598,005.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Roger Fradin sold 188,420 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $115.12, for a total transaction of $21,690,910.40. Following the completion of the transaction, the insider now owns 319,364 shares in the company, valued at $36,765,183.68. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in HON. Schnieders Capital Management LLC increased its position in Honeywell International by 1.8% in the fourth quarter. Schnieders Capital Management LLC now owns 9,972 shares of the company’s stock valued at $1,033,000 after buying an additional 178 shares during the period. BHF Kleinwort Benson Group S.A. acquired a new position in Honeywell International during the fourth quarter valued at approximately $1,036,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Honeywell International by 4.8% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,210 shares of the company’s stock valued at $1,057,000 after buying an additional 465 shares during the period. Investment Management of Virginia LLC increased its position in Honeywell International by 88.8% in the fourth quarter. Investment Management of Virginia LLC now owns 10,905 shares of the company’s stock valued at $1,129,000 after buying an additional 5,130 shares during the period. Finally, Bronfman E.L. Rothschild L.P. purchased a new stake in Honeywell International during the fourth quarter valued at $1,180,000.
Honeywell International Inc (Honeywell) is a technology and manufacturing company. The Company operates in three segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). Its Aerospace segment supplies aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.