Honeywell International Inc. (HON) Receives “Buy” Rating from Jefferies Group
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reissued by Jefferies Group in a report released on Friday. They presently have a $130.00 target price on the stock. Jefferies Group’s price objective suggests a potential upside of 12.45% from the stock’s previous close.
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 equities research analysts have also recently issued reports on HON. Credit Suisse Group AG reiterated a “hold” rating on shares of Honeywell International in a research note on Saturday, July 9th. Barclays PLC boosted their price target 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 target on Honeywell International from $129.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Citigroup Inc. reiterated a “buy” rating and issued a $132.00 price target on shares of Honeywell International in a research note on Tuesday, July 26th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $128.00 price target on shares of Honeywell International in a research note on Monday, July 25th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently 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 7.73% on Friday, reaching $106.67. The company’s stock had a trading volume of 16,935,077 shares. The company has a market cap of $81.16 billion, a PE ratio of 16.88 and a beta of 1.05. The firm has a 50 day moving average of $115.59 and a 200 day moving average of $115.16. Honeywell International has a 52-week low of $93.71 and a 52-week high of $120.02.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. The business earned $9.78 billion during the quarter, compared to analysts’ expectations of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 earnings per share. Analysts predict that Honeywell International will post $6.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a dividend of $0.595 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 2.06%. Honeywell International’s dividend payout ratio (DPR) is presently 37.66%.
In other news, insider Timothy O. Mahoney sold 600 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $116.29, for a total transaction of $69,774.00. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer H. Mak sold 277 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $115.54, for a total transaction of $32,004.58. Following the transaction, the vice president now directly owns 420 shares in the company, valued at approximately $48,526.80. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System acquired a new stake in Honeywell International during the first quarter worth $26,754,000. Buffington Mohr McNeal raised its stake in Honeywell International by 222.1% in the first quarter. Buffington Mohr McNeal now owns 21,210 shares of the company’s stock worth $2,377,000 after buying an additional 14,626 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in Honeywell International during the first quarter worth $1,805,000. Aperio Group LLC raised its stake in Honeywell International by 9.3% in the first quarter. Aperio Group LLC now owns 337,410 shares of the company’s stock worth $37,807,000 after buying an additional 28,631 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in Honeywell International by 4.9% in the first quarter. Commonwealth Equity Services Inc now owns 148,432 shares of the company’s stock worth $16,632,000 after buying an additional 6,876 shares in the last quarter. 76.50% of the stock is currently owned by 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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