Honeywell International’s (HON) “Buy” Rating Reaffirmed at Bank of America Corp.
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reiterated by equities research analysts at Bank of America Corp. in a research note issued to investors on Friday. They currently have a $125.00 price objective on the stock. Bank of America Corp.’s price target points to a potential upside of 8.12% from the company’s current price.
A number of other equities analysts have also weighed in on HON. Sanford C. Bernstein reissued an “outperform” rating on shares of Honeywell International in a research report on Monday, June 27th. Morgan Stanley reissued a “buy” rating and issued a $127.00 target price on shares of Honeywell International in a research report on Tuesday, September 6th. Zacks Investment Research lowered Honeywell International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Credit Suisse Group AG reissued a “hold” rating and issued a $113.35 target price on shares of Honeywell International in a research report on Friday. Finally, Citigroup Inc. reissued a “buy” rating and issued a $132.00 target price on shares of Honeywell International in a research report on Thursday, June 30th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Honeywell International presently 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. 20,232,083 shares of the company’s stock were exchanged. The firm has a market cap of $81.37 billion, a price-to-earnings 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. The stock has a 50-day moving average price of $115.59 and a 200 day moving average price of $115.16.
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Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm earned $9.78 billion during the quarter, compared to analyst estimates of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. Honeywell International’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 EPS. On average, analysts forecast that Honeywell International will post $6.68 EPS for the current year.
The business 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 presently 37.66%.
In related news, insider Timothy O. Mahoney sold 600 shares of the stock in a transaction 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 sale, the insider now owns 68,398 shares in the company, valued at approximately $7,954,003.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Cote sold 534,505 shares of the stock in a transaction on Friday, August 5th. The shares were 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 owns 700,000 shares in the company, valued at approximately $81,305,000. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new stake in Honeywell International during the second quarter worth $351,643,000. Vanguard Group Inc. raised 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 worth $5,196,607,000 after buying an additional 1,587,804 shares during the last quarter. UBS Asset Management Americas Inc. raised 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 worth $374,917,000 after buying an additional 1,547,970 shares during the last quarter. Boston Partners raised 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 worth $386,068,000 after buying an additional 1,100,961 shares during the last quarter. Finally, Investec Asset Management LTD raised 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 worth $231,899,000 after buying an additional 918,891 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.
Honeywell International Company Profile
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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