Honeywell International Inc. (HON) Receives Buy Rating from Jefferies Group
Jefferies Group restated their buy rating on shares of Honeywell International Inc. (NYSE:HON) in a research report released on Friday morning. The brokerage currently has a $130.00 price objective on the stock.
“After the market closed, Honeywell provided restated segment results to account for its new organizational structure, to account for the recent acquisition of Intelligrated and to detail the outlook of the business with the Spin-off of AdvanSix and the divestiture of HTSI. It announced restructuring actions and indicated full year earnings would be in the $6.60 to $6.64 EPS range.”,” Jefferies Group’s analyst wrote.
Other research analysts have also recently issued reports about the company. Credit Suisse Group AG restated a hold rating on shares of Honeywell International in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. restated an outperform rating and issued a $128.00 price objective on shares of Honeywell International in a research note on Monday, July 25th. Barclays PLC raised their price objective on Honeywell International from $127.00 to $131.00 and gave the stock an overweight rating in a research note on Monday, July 25th. Zacks Investment Research upgraded Honeywell International from a hold rating to a buy rating and set a $127.00 price objective for the company in a research note on Monday, June 27th. Finally, Sanford C. Bernstein restated an outperform rating and issued a $135.00 price objective on shares of Honeywell International in a research note on Monday, July 25th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $123.14.
Shares of Honeywell International (NYSE:HON) traded up 0.033% during mid-day trading on Friday, hitting $106.975. The stock had a trading volume of 4,104,458 shares. The stock has a market cap of $81.39 billion, a P/E ratio of 16.924 and a beta of 1.05. The firm has a 50 day moving average of $115.34 and a 200-day moving average of $115.12. Honeywell International has a one year low of $93.71 and a one year high of $120.02.
Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The firm earned $9.78 billion during the quarter, compared to analysts’ expectations of $10.13 billion. During the same period last year, the business posted $1.51 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts expect that Honeywell International will post $6.68 earnings per share for the current fiscal year.
In related news, insider Timothy O. Mahoney sold 600 shares of Honeywell International stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $116.29, for a total transaction of $69,774.00. Following the transaction, the insider now owns 68,398 shares in the company, valued at $7,954,003.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David M. Cote sold 534,505 shares of Honeywell International stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $116.15, for a total value of $62,082,755.75. Following the transaction, the chief executive officer now owns 700,000 shares in the company, valued at approximately $81,305,000. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.
A number of institutional investors have recently made changes to their positions in HON. Advisory Services Network LLC increased its position in shares of Honeywell International by 0.5% in the third quarter. Advisory Services Network LLC now owns 10,273 shares of the company’s stock worth $1,198,000 after buying an additional 53 shares during the last quarter. Trust Co. of Oklahoma increased its position in shares of Honeywell International by 6.4% in the third quarter. Trust Co. of Oklahoma now owns 22,572 shares of the company’s stock worth $2,632,000 after buying an additional 1,351 shares during the last quarter. Catawba Capital Management VA increased its position in shares of Honeywell International by 3.6% in the third quarter. Catawba Capital Management VA now owns 34,889 shares of the company’s stock worth $4,068,000 after buying an additional 1,210 shares during the last quarter. First American Bank increased its position in shares of Honeywell International by 92.7% in the third quarter. First American Bank now owns 22,462 shares of the company’s stock worth $2,619,000 after buying an additional 10,806 shares during the last quarter. Finally, Independence Advisors LLC bought a new position in shares of Honeywell International during the third quarter worth approximately $225,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Honeywell International Company Profile
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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