Honeywell International (NASDAQ:HON) Hits New 52-Week High – Still a Buy?

Honeywell International Inc. (NASDAQ:HON) reached a new 52-week high on Wednesday . The company traded as high as $244.78 and last traded at $243.35, with a volume of 3887613 shares trading hands. The stock had previously closed at $239.84.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 28th. Evercore boosted their target price on Honeywell International from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Daiwa Securities Group raised their price objective on Honeywell International from $230.00 to $240.00 in a research note on Tuesday, February 3rd. Rothschild & Co Redburn upped their price target on shares of Honeywell International from $222.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Finally, The Goldman Sachs Group cut their target price on Honeywell International from $245.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Honeywell International currently has a consensus rating of “Moderate Buy” and an average target price of $244.50.

Honeywell International Price Performance

The stock has a market capitalization of $152.27 billion, a price-to-earnings ratio of 30.02, a PEG ratio of 3.52 and a beta of 0.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.05 and a current ratio of 1.32. The company has a fifty day simple moving average of $210.70 and a two-hundred day simple moving average of $209.22.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.05. The firm had revenue of $10.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Honeywell International had a return on equity of 40.40% and a net margin of 12.74%.The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. As a group, equities research analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Insider Activity

In other Honeywell International news, VP Robert D. Mailloux sold 10,549 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $229.00, for a total transaction of $2,415,721.00. Following the sale, the vice president owned 4,803 shares of the company’s stock, valued at approximately $1,099,887. This represents a 68.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HON. SG Americas Securities LLC increased its holdings in Honeywell International by 15,459.1% during the 4th quarter. SG Americas Securities LLC now owns 4,057,960 shares of the conglomerate’s stock worth $791,667,000 after purchasing an additional 4,031,879 shares in the last quarter. Laurel Wealth Advisors LLC boosted its position in Honeywell International by 23,503.0% during the second quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock worth $865,506,000 after purchasing an additional 3,700,786 shares during the period. Franklin Resources Inc. lifted its position in shares of Honeywell International by 28.8% during the third quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate’s stock worth $2,146,372,000 after acquiring an additional 2,277,234 shares in the last quarter. Mizuho Markets Americas LLC increased its position in shares of Honeywell International by 921.0% during the fourth quarter. Mizuho Markets Americas LLC now owns 2,042,000 shares of the conglomerate’s stock valued at $398,374,000 after buying an additional 1,842,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Honeywell International in the 4th quarter worth approximately $248,040,000. 75.91% of the stock is owned by institutional investors and hedge funds.

About Honeywell International

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.