Honeywell International (HON) Downgraded by Zacks Investment Research to “Hold”
Honeywell International (NYSE:HON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “With a flexible yet disciplined focus on cost and productivity, 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 also outperformed the industry year to date. However, adverse foreign currency translations, high R&D expenses and volatility in commodity prices are likely to peg back its growth momentum to some extent. Although the company’s proactive restructuring initiatives have positioned it to navigate better than many of its peers, it is yet to witness signs of stabilization in a number of its major end markets. A change in the U.S. government’s defense and aerospace funding could also adversely impact sales of the Aerospace business.”
Several other equities research analysts have also issued reports on the stock. Deutsche Bank reiterated a “buy” rating and set a $171.00 target price on shares of Honeywell International in a research report on Tuesday. Credit Suisse Group reiterated a “neutral” rating and set a $150.00 target price (up from $141.00) on shares of Honeywell International in a research report on Monday, October 23rd. Royal Bank Of Canada lifted their target price on shares of Honeywell International from $148.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Vertical Research reiterated a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Finally, Cowen reiterated a “buy” rating and set a $150.00 target price on shares of Honeywell International in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $151.92.
Honeywell International (NYSE:HON) opened at $153.24 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.09. Honeywell International has a 1 year low of $112.17 and a 1 year high of $153.56. The company has a market cap of $116,376.04, a P/E ratio of 21.98, a PEG ratio of 2.34 and a beta of 0.97.
Honeywell International (NYSE:HON) last announced its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The business had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.05 billion. During the same period in the previous year, the business posted $1.60 earnings per share. Honeywell International’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts predict that Honeywell International will post 7.06 EPS for the current fiscal year.
In related news, Director Bradley T. Sheares sold 1,328 shares of Honeywell International stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total value of $194,432.48. Following the transaction, the director now directly owns 4,002 shares of the company’s stock, valued at $585,932.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Krishna Mikkilineni sold 13,074 shares of Honeywell International stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the completion of the transaction, the vice president now directly owns 104,998 shares in the company, valued at $15,237,309.76. The disclosure for this sale can be found here. 1.56% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Schulhoff & Co. Inc. boosted its holdings in Honeywell International by 1.8% in the second quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock valued at $1,524,000 after acquiring an additional 203 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Honeywell International by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock valued at $29,184,000 after buying an additional 11,091 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Honeywell International by 331.4% during the 1st quarter. Edgestream Partners L.P. now owns 13,555 shares of the conglomerate’s stock valued at $1,693,000 after buying an additional 10,413 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Honeywell International by 80.2% during the 2nd quarter. Acadian Asset Management LLC now owns 33,290 shares of the conglomerate’s stock valued at $4,436,000 after buying an additional 14,816 shares in the last quarter. Finally, Buckingham Capital Management Inc. boosted its holdings in shares of Honeywell International by 3.1% during the 1st quarter. Buckingham Capital Management Inc. now owns 25,462 shares of the conglomerate’s stock valued at $3,179,000 after buying an additional 766 shares in the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.
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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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