Honeywell International Inc. (HON) Stock Rating Reaffirmed by Morgan Stanley
Honeywell International Inc. (NYSE:HON)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Monday. They currently have a $124.00 target price on the stock, down from their prior target price of $127.00. Morgan Stanley’s price objective would indicate a potential upside of 17.22% from the stock’s current price.
HON has been the subject of several other research reports. Bank of America Corp. set a $132.00 price target on shares of Honeywell International and gave the stock a “buy” rating in a research report on Monday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and set a $132.00 price target on shares of Honeywell International in a research report on Tuesday, July 26th. Barclays PLC upped their price target on shares of Honeywell International from $127.00 to $131.00 and gave the stock an “overweight” rating in a research report on Monday, July 25th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Honeywell International in a research report on Saturday, July 9th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Honeywell International in a research report on Monday, June 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $123.26.
Shares of Honeywell International (NYSE:HON) opened at 105.78 on Monday. The firm has a market capitalization of $80.49 billion, a price-to-earnings ratio of 16.73 and a beta of 1.05. The company’s 50-day moving average is $114.76 and its 200 day moving average is $115.05. Honeywell International has a 52 week low of $93.71 and a 52 week high of $120.02.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.66 EPS for the quarter, topping the 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 firm earned $9.78 billion during the quarter, compared to analyst estimates of $10.13 billion. During the same quarter in the prior year, the business posted $1.51 earnings per share. Honeywell International’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that Honeywell International will post $6.68 EPS for the current fiscal year.
In related news, CEO David M. Cote sold 534,505 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $116.15, for a total value of $62,082,755.75. Following the sale, the chief executive officer now owns 700,000 shares of the company’s stock, valued at approximately $81,305,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 108,712 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $116.13, for a total transaction of $12,624,724.56. Following the completion of the sale, the senior vice president now directly owns 224,530 shares in the company, valued at approximately $26,074,668.90. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new position in Honeywell International during the second quarter valued at approximately $351,643,000. Vanguard Group Inc. boosted 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 during the last quarter. UBS Asset Management Americas Inc. boosted its position in Honeywell International by 92.4% in the second quarter. UBS Asset Management Americas Inc. now owns 3,223,146 shares of the company’s stock valued at $374,917,000 after buying an additional 1,547,970 shares during the last quarter. Boston Partners boosted its position in Honeywell International by 49.6% in the second quarter. Boston Partners now owns 3,319,023 shares of the company’s stock valued at $386,068,000 after buying an additional 1,100,961 shares during the last quarter. Finally, Investec Asset Management LTD boosted its position in Honeywell International by 79.9% in the first quarter. Investec Asset Management LTD now owns 2,069,606 shares of the company’s stock valued at $231,899,000 after buying an additional 918,891 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.
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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