Honeywell International Inc. (HON) Earns “Buy” Rating from Jefferies Group
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a report issued on Friday. They currently have a $130.00 price target on the stock. Jefferies Group’s price objective points to a potential upside of 12.45% from the company’s current price.
The analysts wrote, “After the market closed, Honeywell provided restated segment results to account for its new organizational structure, to account for the recent acquisition of Intelligrated and to detail the outlook of the business with the Spin-off of AdvanSix and the divestiture of HTSI. It announced restructuring actions and indicated full year earnings would be in the $6.60 to $6.64 EPS range.””
Several other research firms have also commented on HON. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price target on shares of Honeywell International in a research report on Wednesday, July 6th. Credit Suisse Group AG restated a “neutral” rating and set a $114.00 price target on shares of Honeywell International in a research report on Monday, July 25th. Morgan Stanley set a $130.00 price target on shares of Honeywell International and gave the company a “buy” rating in a research report on Monday, August 22nd. Robert W. Baird initiated coverage on shares of Honeywell International in a research report on Thursday. They set an “outperform” rating and a $135.00 price target on the stock. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $128.00 price target on shares of Honeywell International in a research report on Monday, July 25th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $122.95.
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Shares of Honeywell International (NYSE:HON) traded down 8.56% on Friday, hitting $105.71. The stock had a trading volume of 13,139,984 shares. The company has a 50 day moving average price of $115.59 and a 200-day moving average price of $115.16. Honeywell International has a 12 month low of $93.71 and a 12 month high of $120.02. The stock has a market cap of $80.43 billion, a PE ratio of 16.72 and a beta of 1.05.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.02. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. The firm earned $9.78 billion during the quarter, compared to analysts’ expectations of $10.13 billion. During the same quarter last year, the company posted $1.51 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Honeywell International will post $6.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were issued a dividend of $0.595 per share. The ex-dividend date was Wednesday, August 17th. This represents a $2.38 annualized dividend and a yield of 2.06%. Honeywell International’s payout ratio is currently 37.66%.
In related news, insider Timothy O. Mahoney sold 600 shares of Honeywell International stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $116.29, for a total transaction of $69,774.00. Following the completion of the sale, the insider now directly owns 68,398 shares of the company’s stock, valued at approximately $7,954,003.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David M. Cote sold 534,505 shares of Honeywell International stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $116.15, for a total value of $62,082,755.75. Following the sale, the chief executive officer now directly owns 700,000 shares of the company’s stock, valued at $81,305,000. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new stake in Honeywell International during the second quarter valued at $351,643,000. Vanguard Group Inc. boosted its stake in Honeywell International by 3.7% in the second quarter. Vanguard Group Inc. now owns 44,675,101 shares of the company’s stock valued at $5,196,607,000 after buying an additional 1,587,804 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Honeywell International by 92.4% in the second quarter. UBS Asset Management Americas Inc. now owns 3,223,146 shares of the company’s stock valued at $374,917,000 after buying an additional 1,547,970 shares during the last quarter. Boston Partners boosted its stake in Honeywell International by 49.6% in the second quarter. Boston Partners now owns 3,319,023 shares of the company’s stock valued at $386,068,000 after buying an additional 1,100,961 shares during the last quarter. Finally, Investec Asset Management LTD boosted its stake in Honeywell International by 79.9% in the first quarter. Investec Asset Management LTD now owns 2,069,606 shares of the company’s stock valued at $231,899,000 after buying an additional 918,891 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.
About Honeywell International
Honeywell International Inc (Honeywell) is a technology and manufacturing company. The Company operates in three segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). Its Aerospace segment supplies aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors.
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