Honeywell International Inc. (HON) Rating Increased to Buy at Zacks Investment Research
Honeywell International Inc. (NYSE:HON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $154.00 price objective on the conglomerate’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.83% from the stock’s previous close.
According to Zacks, “Honeywell’s diversified business portfolio has the potential to earn consistent above-average returns and mitigate operating risks through a balanced organic and inorganic model. A diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positives. The company’s balanced mix of long- and short-cycle businesses, along with a decent organic growth in new products and expansion in high-growth regions augur well on a long-term perspective. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. The company also outperformed the industry year to date. However, adverse foreign currency translations, high R&D expenses to fend off competition and volatility in commodity prices are likely to peg back its growth momentum to some extent.”
Other equities analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. raised their price objective on Honeywell International from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Cowen and Company restated a “buy” rating and set a $140.00 price objective on shares of Honeywell International in a research report on Monday, July 17th. BidaskClub upgraded Honeywell International from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. HSBC Holdings plc assumed coverage on Honeywell International in a research report on Wednesday, June 21st. They set a “buy” rating and a $147.00 price objective for the company. Finally, Royal Bank Of Canada set a $148.00 price objective on Honeywell International and gave the stock a “buy” rating in a research report on Sunday, August 27th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Honeywell International currently has an average rating of “Buy” and a consensus price target of $141.24.
Shares of Honeywell International (NYSE:HON) opened at 138.95 on Friday. The stock has a 50 day moving average price of $137.53 and a 200-day moving average price of $132.16. The company has a market capitalization of $105.68 billion, a PE ratio of 21.55 and a beta of 0.94. Honeywell International has a 52 week low of $105.25 and a 52 week high of $140.21.
Honeywell International (NYSE:HON) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.02. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The company had revenue of $10.08 billion during the quarter, compared to the consensus estimate of $9.89 billion. During the same period last year, the company earned $1.70 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Equities research analysts expect that Honeywell International will post $7.09 EPS for the current year.
In other news, insider Timothy O. Mahoney sold 341,701 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 294,155 shares in the company, valued at $40,616,922.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jennifer H. Mak sold 420 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $136.66, for a total value of $57,397.20. Following the sale, the vice president now owns 1,363 shares of the company’s stock, valued at approximately $186,267.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 354,108 shares of company stock valued at $48,886,463. Corporate insiders own 1.56% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC purchased a new position in shares of Honeywell International during the first quarter valued at approximately $100,000. Hanson McClain Inc. boosted its position in shares of Honeywell International by 0.4% during the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock valued at $101,000 after buying an additional 3 shares during the last quarter. Burt Wealth Advisors boosted its position in shares of Honeywell International by 65.4% during the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock valued at $101,000 after buying an additional 300 shares during the last quarter. Guidant Wealth Advisors boosted its position in shares of Honeywell International by 15.8% during the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after buying an additional 104 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its position in shares of Honeywell International by 11.4% during the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock valued at $102,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.
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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