Honeywell International Inc. (HON) Receives Buy Rating from Bank of America Corp.
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reaffirmed by Bank of America Corp. in a research report issued on Friday. They currently have a $125.00 price target on the stock. Bank of America Corp.’s price target indicates a potential upside of 16.89% from the stock’s previous close.
A number of other research analysts also recently weighed in on HON. Credit Suisse Group AG reissued a “hold” rating on shares of Honeywell International in a research note on Saturday, July 9th. Barclays PLC raised their price objective on Honeywell International from $127.00 to $131.00 and gave the company an “overweight” rating in a research note on Monday, July 25th. Stifel Nicolaus cut their price objective on Honeywell International from $129.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Citigroup Inc. reissued a “buy” rating and issued a $132.00 price objective on shares of Honeywell International in a research note on Tuesday, July 26th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $128.00 price objective on shares of Honeywell International in a research note on Monday, July 25th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Honeywell International has a consensus rating of “Buy” and an average price target of $122.64.
Shares of Honeywell International (NYSE:HON) traded down 7.50% during trading on Friday, reaching $106.94. The company had a trading volume of 20,423,756 shares. The stock has a 50 day moving average price of $115.59 and a 200 day moving average price of $115.16. The firm has a market capitalization of $81.37 billion, a PE ratio of 16.92 and a beta of 1.05. Honeywell International has a 12 month low of $93.71 and a 12 month high of $120.02.
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Honeywell International (NYSE:HON) last issued its quarterly earnings data on Friday, July 22nd. The company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.02. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The business had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $10.13 billion. During the same period last year, the business earned $1.51 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Honeywell International will post $6.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued a $0.595 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $2.38 annualized dividend and a dividend yield of 2.23%. Honeywell International’s dividend payout ratio (DPR) is currently 37.66%.
In related news, Vice Chairman Andreas Kramvis sold 1,850 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $114.80, for a total transaction of $212,380.00. Following the completion of the transaction, the insider now directly owns 66,441 shares of the company’s stock, valued at $7,627,426.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director D Scott Davis sold 7,415 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $116.21, for a total value of $861,697.15. Following the transaction, the director now directly owns 18,379 shares of the company’s stock, valued at $2,135,823.59. The disclosure for this sale can be found here. 1.83% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HON. Meristem LLP boosted its stake in Honeywell International by 3.0% in the first quarter. Meristem LLP now owns 4,867 shares of the company’s stock worth $545,000 after buying an additional 140 shares during the last quarter. Investment Centers of America Inc. boosted its stake in Honeywell International by 10.5% in the first quarter. Investment Centers of America Inc. now owns 19,817 shares of the company’s stock worth $2,219,000 after buying an additional 1,891 shares during the last quarter. Sii Investments Inc. WI boosted its stake in Honeywell International by 21.2% in the first quarter. Sii Investments Inc. WI now owns 3,536 shares of the company’s stock worth $393,000 after buying an additional 619 shares during the last quarter. Sanders Morris Harris Inc. acquired a new stake in Honeywell International during the first quarter worth about $856,000. Finally, Arvest Bank Trust Division boosted its stake in Honeywell International by 0.7% in the first quarter. Arvest Bank Trust Division now owns 3,402 shares of the company’s stock worth $381,000 after buying an additional 25 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.
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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