Honeywell International Inc. (HON) Rating Lowered to Buy at Goldman Sachs Group Inc.
Honeywell International Inc. (NYSE:HON) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.
Several other equities analysts have also issued reports on HON. Credit Suisse Group AG reissued a “hold” rating on shares of Honeywell International in a report on Saturday, July 9th. Barclays PLC boosted their price target on shares of Honeywell International from $127.00 to $131.00 and gave the company an “overweight” rating in a report on Monday, July 25th. Stifel Nicolaus decreased their price target on shares of Honeywell International from $129.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 25th. Citigroup Inc. reissued a “buy” rating and issued a $132.00 price target on shares of Honeywell International in a report on Tuesday, July 26th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $128.00 price target on shares of Honeywell International in a 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 currently has an average rating of “Buy” and an average price target of $122.95.
Shares of Honeywell International (NYSE:HON) traded down 0.36% during mid-day trading on Monday, hitting $106.55. The stock had a trading volume of 7,356,188 shares. The stock’s 50-day moving average price is $115.34 and its 200-day moving average price is $115.12. The stock has a market capitalization of $81.07 billion, a price-to-earnings ratio of 16.86 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 announced 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. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. The company earned $9.78 billion during the quarter, compared to analyst estimates of $10.13 billion. During the same quarter in the previous year, the business earned $1.51 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that Honeywell International will post $6.68 EPS for the current fiscal year.
In other news, SVP Katherine L. Adams sold 108,712 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $116.13, for a total transaction of $12,624,724.56. Following the transaction, the senior vice president now directly owns 224,530 shares of the company’s stock, valued at $26,074,668.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Cote sold 534,505 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $116.15, for a total transaction of $62,082,755.75. Following the transaction, the chief executive officer now directly owns 700,000 shares in the company, valued at $81,305,000. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. American National Bank raised its stake in Honeywell International by 112.0% in the second quarter. American National Bank now owns 956 shares of the company’s stock valued at $111,000 after buying an additional 505 shares in the last quarter. First Personal Financial Services raised its stake in Honeywell International by 128.1% in the second quarter. First Personal Financial Services now owns 974 shares of the company’s stock valued at $113,000 after buying an additional 547 shares in the last quarter. Ironwood Financial llc purchased a new stake in Honeywell International during the first quarter valued at about $122,000. Bruderman Asset Management LLC raised its stake in Honeywell International by 19.6% in the second quarter. Bruderman Asset Management LLC now owns 1,048 shares of the company’s stock valued at $122,000 after buying an additional 172 shares in the last quarter. Finally, Cable Hill Partners LLC raised its stake in Honeywell International by 364.0% in the second quarter. Cable Hill Partners LLC now owns 1,109 shares of the company’s stock valued at $130,000 after buying an additional 870 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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