Jefferies Group Weighs in on Honeywell International Inc.’s Q3 2016 Earnings (HON)
Honeywell International Inc. (NYSE:HON) – Analysts at Jefferies Group lowered their Q3 2016 EPS estimates for shares of Honeywell International in a research note issued on Thursday. Jefferies Group analyst H. Rubel now expects that the brokerage will earn $1.60 per share for the quarter, down from their prior estimate of $1.72. Jefferies Group currently has a “Buy” rating and a $130.00 target price on the stock. Jefferies Group also issued estimates for Honeywell International’s Q4 2016 earnings at $1.74 EPS and FY2016 earnings at $6.60 EPS.
Several other equities research analysts also recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Honeywell International in a research report on Monday, June 27th. Bank of America Corp. set a $132.00 price target on shares of Honeywell International and gave the company a “buy” rating in a report on Monday, July 25th. Morgan Stanley reaffirmed a “buy” rating and issued a $127.00 price target on shares of Honeywell International in a report on Tuesday, September 6th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $113.35 price target on shares of Honeywell International in a report on Friday. Finally, Zacks Investment Research lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $122.64.
Honeywell International (NYSE:HON) opened at 106.94 on Monday. The stock has a market capitalization of $81.37 billion, a PE ratio of 16.92 and a beta of 1.05. Honeywell International has a one year low of $93.71 and a one year high of $120.02. The firm has a 50-day moving average of $115.34 and a 200-day moving average of $115.12.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.02. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. The company earned $9.78 billion during the quarter, compared to analysts’ expectations of $10.13 billion. During the same period last year, the company posted $1.51 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year.
In other news, insider Timothy O. Mahoney sold 600 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $116.29, for a total transaction of $69,774.00. Following the sale, the insider now owns 68,398 shares in the company, valued at $7,954,003.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 108,712 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $116.13, for a total transaction of $12,624,724.56. Following the completion of the transaction, the senior vice president now owns 224,530 shares in the company, valued at approximately $26,074,668.90. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Honeywell International by 3.7% in the second quarter. Vanguard Group Inc. now owns 44,675,101 shares of the company’s stock valued at $5,196,607,000 after buying an additional 1,587,804 shares in the last quarter. State Street Corp raised its position in Honeywell International by 1.0% in the first quarter. State Street Corp now owns 27,915,988 shares of the company’s stock valued at $3,127,990,000 after buying an additional 264,413 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Honeywell International by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,359,376 shares of the company’s stock valued at $2,281,268,000 after buying an additional 161,354 shares in the last quarter. FMR LLC raised its position in Honeywell International by 2.7% in the second quarter. FMR LLC now owns 13,721,682 shares of the company’s stock valued at $1,596,106,000 after buying an additional 358,668 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Honeywell International by 3.5% in the second quarter. BlackRock Fund Advisors now owns 8,980,272 shares of the company’s stock valued at $1,044,585,000 after buying an additional 303,034 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.
About Honeywell International
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.
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