Honeywell International Inc. (HON) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Honeywell International Inc. (NYSE:HON) from a hold rating to a buy rating in a report published on Thursday. Zacks Investment Research currently has $154.00 price target on the conglomerate’s stock.
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. 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. A diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positives. 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.”
Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of Honeywell International from a buy rating to a strong-buy rating in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. upped their price objective on shares of Honeywell International from $148.00 to $155.00 and gave the company an outperform rating in a research note on Monday, July 24th. Credit Suisse Group reiterated a neutral rating and issued a $139.00 price objective (up previously from $131.00) on shares of Honeywell International in a research note on Tuesday, July 25th. Morgan Stanley reiterated an overweight rating and issued a $141.00 price objective (up previously from $137.00) on shares of Honeywell International in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reiterated a buy rating and issued a $155.00 price objective (up previously from $141.00) on shares of Honeywell International in a research note on Monday, July 24th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $142.22.
Honeywell International (NYSE HON) opened at 141.75 on Thursday. The firm has a 50 day moving average of $137.60 and a 200-day moving average of $132.42. Honeywell International has a one year low of $105.25 and a one year high of $142.06. The firm has a market cap of $107.81 billion, a price-to-earnings ratio of 21.98 and a beta of 0.94.
Honeywell International (NYSE:HON) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The business had revenue of $10.08 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same quarter in the previous year, the business earned $1.70 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Honeywell International will post $7.09 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Wednesday, August 16th. Honeywell International’s dividend payout ratio is currently 41.24%.
In related news, insider Timothy O. Mahoney sold 341,701 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were 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 directly owns 294,155 shares of the company’s stock, valued at approximately $40,616,922.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer H. Mak sold 420 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $136.66, for a total transaction of $57,397.20. Following the sale, the vice president now directly owns 1,363 shares of the company’s stock, valued at $186,267.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,108 shares of company stock valued at $48,886,463. 1.56% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Honeywell International by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after buying an additional 1,234,672 shares during the period. BlackRock Inc. boosted its holdings in shares of Honeywell International by 2.8% during the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after buying an additional 1,207,893 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Honeywell International by 38.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock worth $1,776,394,000 after buying an additional 3,728,533 shares during the period. FMR LLC boosted its holdings in shares of Honeywell International by 9.3% during the 2nd quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after buying an additional 714,881 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Honeywell International by 9.1% during the 2nd quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after buying an additional 629,221 shares during the period. 75.77% 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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