Honeywell International Inc. (HON) Downgraded to “Hold” at BidaskClub
BidaskClub downgraded shares of Honeywell International Inc. (NYSE:HON) from a buy rating to a hold rating in a research note published on Monday.
A number of other research firms have also issued reports on HON. Credit Suisse Group reissued a neutral rating and set a $139.00 target price (up from $131.00) on shares of Honeywell International in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. upped their price target on shares of Honeywell International from $148.00 to $155.00 and gave the stock an outperform rating in a research note on Monday, July 24th. Royal Bank Of Canada upped their price target on shares of Honeywell International from $145.00 to $148.00 and gave the stock an outperform rating in a research note on Monday, July 24th. Jefferies Group LLC reaffirmed a buy rating and issued a $155.00 price target (up from $141.00) on shares of Honeywell International in a research note on Monday, July 24th. Finally, Zacks Investment Research raised shares of Honeywell International from a hold rating to a buy rating and set a $151.00 price target for the company in a research note on Thursday, July 20th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Honeywell International has a consensus rating of Buy and a consensus price target of $138.58.
Shares of Honeywell International (NYSE HON) traded up 0.34% during midday trading on Monday, reaching $140.04. 3,494,708 shares of the company were exchanged. The company’s 50-day moving average price is $135.02 and its 200 day moving average price is $128.45. The stock has a market capitalization of $106.51 billion, a price-to-earnings ratio of 21.71 and a beta of 0.94. Honeywell International has a 52-week low of $105.25 and a 52-week high of $140.07.
Honeywell International (NYSE:HON) last posted its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.02. The firm had revenue of $10.08 billion during the quarter, compared to analyst estimates of $9.89 billion. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. Honeywell International’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.70 EPS. On average, equities analysts predict that Honeywell International will post $7.10 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, August 16th. Honeywell International’s dividend payout ratio is 41.24%.
In related news, CFO Thomas A. Szlosek sold 36,080 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $131.16, for a total transaction of $4,732,252.80. Following the completion of the sale, the chief financial officer now directly owns 2,160 shares of the company’s stock, valued at approximately $283,305.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy O. Mahoney sold 341,701 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total transaction of $47,182,074.08. Following the sale, the insider now directly owns 294,155 shares of the company’s stock, valued at $40,616,922.40. The disclosure for this sale can be found here. Insiders sold 504,965 shares of company stock valued at $68,677,381 over the last three months. Insiders own 1.56% of the company’s stock.
Several hedge funds have recently bought and sold shares of HON. Crestwood Advisors Group LLC purchased a new stake in Honeywell International during the first quarter valued at about $100,000. Peoples Financial Services CORP. increased its stake in shares of Honeywell International by 62.2% in the first quarter. Peoples Financial Services CORP. now owns 811 shares of the conglomerate’s stock worth $101,000 after buying an additional 311 shares during the period. Hanson McClain Inc. increased its stake in shares of Honeywell International by 0.4% in the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after buying an additional 3 shares during the period. Guidant Wealth Advisors increased its stake in shares of Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after buying an additional 104 shares during the period. Finally, Jolley Asset Management LLC increased its stake in shares of Honeywell International by 6.9% in the second quarter. Jolley Asset Management LLC now owns 775 shares of the conglomerate’s stock worth $103,000 after buying an additional 50 shares during the period. 76.49% of the stock is owned by institutional investors and hedge funds.
About Honeywell International
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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