Investors Buy Honeywell International Inc. (HON) on Weakness Following Analyst Downgrade
Investors bought shares of Honeywell International Inc. (NYSE:HON) on weakness during trading on Monday after Citigroup lowered their price target on the stock from $131.25 to $128.00. $178.72 million flowed into the stock on the tick-up and $132.06 million flowed out of the stock on the tick-down, for a money net flow of $46.66 million into the stock. Of all stocks tracked, Honeywell International had the 20th highest net in-flow for the day. Honeywell International traded down ($0.14) for the day and closed at $106.80
A number of other research firms also recently issued reports on HON. Credit Suisse Group AG restated a “hold” rating on shares of Honeywell International in a research report on Saturday, July 9th. Barclays PLC boosted their target price on shares of Honeywell International from $127.00 to $131.00 and gave the company an “overweight” rating in a research report on Monday, July 25th. Stifel Nicolaus decreased their target price on shares of Honeywell International from $129.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, July 25th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $128.00 target price on shares of Honeywell International in a research report on Monday, July 25th. Finally, Royal Bank Of Canada decreased their target price on shares of Honeywell International from $138.00 to $133.00 and set an “outperform” rating for the company in a research report on Monday. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Honeywell International presently has an average rating of “Buy” and a consensus price target of $123.26.
In other Honeywell International news, Vice Chairman Andreas Kramvis sold 1,850 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $114.80, for a total transaction of $212,380.00. Following the sale, the insider now directly owns 66,441 shares in the company, valued at approximately $7,627,426.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David M. Cote sold 534,505 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $116.15, for a total transaction of $62,082,755.75. Following the sale, the chief executive officer now owns 700,000 shares in the company, valued at $81,305,000. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. First United Bank Trust raised its stake in Honeywell International by 2.1% in the third quarter. First United Bank Trust now owns 18,786 shares of the company’s stock worth $2,190,000 after buying an additional 385 shares during the period. Perkins Coie Trust Co raised its stake in Honeywell International by 931.4% in the third quarter. Perkins Coie Trust Co now owns 10,892 shares of the company’s stock worth $1,270,000 after buying an additional 9,836 shares during the period. Carroll Financial Associates Inc. raised its stake in Honeywell International by 2.7% in the third quarter. Carroll Financial Associates Inc. now owns 4,130 shares of the company’s stock worth $481,000 after buying an additional 108 shares during the period. Dynamic Advisors Solutions LLC raised its stake in Honeywell International by 1.8% in the third quarter. Dynamic Advisors Solutions LLC now owns 13,935 shares of the company’s stock worth $1,625,000 after buying an additional 240 shares during the period. Finally, First Financial Bank N.A. Trust Division raised its stake in Honeywell International by 1.5% in the third quarter. First Financial Bank N.A. Trust Division now owns 23,657 shares of the company’s stock worth $2,758,000 after buying an additional 345 shares during the period. Institutional investors own 76.50% of the company’s stock.
The firm has a market cap of $80.49 billion, a P/E ratio of 16.73 and a beta of 1.05. The stock has a 50 day moving average price of $114.76 and a 200-day moving average price of $115.05.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business earned $9.78 billion during the quarter, compared to the consensus estimate of $10.13 billion. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 earnings per share. Equities research analysts predict that Honeywell International Inc. will post $6.68 earnings per share for the current year.
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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