RBC Capital Markets Reaffirms “Outperform” Rating for Honeywell International Inc. (HON)
Honeywell International Inc. (NYSE:HON)‘s stock had its “outperform” rating reaffirmed by equities research analysts at RBC Capital Markets in a research note issued to investors on Monday. They presently have a $133.00 price objective on the stock, down from their prior price objective of $138.00. RBC Capital Markets’ price target indicates a potential upside of 24.53% from the stock’s previous close.
HON has been the subject of a number of other research reports. Morgan Stanley reiterated a “buy” rating and issued a $127.00 price objective on shares of Honeywell International in a research note on Tuesday, September 6th. Deutsche Bank AG reiterated a “buy” rating and issued a $113.00 price objective on shares of Honeywell International in a research note on Thursday, August 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Honeywell International in a research note on Wednesday, July 6th. Bank of America Corp. reiterated a “buy” rating and issued a $125.00 price objective on shares of Honeywell International in a research note on Friday. Finally, Robert W. Baird initiated coverage on Honeywell International in a research note on Thursday. They issued an “outperform” rating and a $135.00 price objective for the company. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $123.39.
Honeywell International (NYSE:HON) traded down 0.13% during midday trading on Monday, reaching $106.80. 8,423,106 shares of the company were exchanged. The company has a market capitalization of $81.26 billion, a price-to-earnings ratio of 16.90 and a beta of 1.05. Honeywell International has a 52-week low of $93.71 and a 52-week high of $120.02. The company has a 50 day moving average of $115.34 and a 200-day moving average of $115.12.
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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 company earned $9.78 billion during the quarter, compared to analysts’ expectations of $10.13 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Honeywell International will post $6.68 earnings per share for the current fiscal year.
In other Honeywell International news, SVP Katherine L. Adams sold 108,712 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $116.13, for a total value of $12,624,724.56. Following the sale, the senior vice president now owns 224,530 shares of the company’s stock, valued at $26,074,668.90. The transaction was disclosed in a 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 company’s 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 completion of the sale, the chief executive officer now directly owns 700,000 shares in the company, valued at approximately $81,305,000. The disclosure for this sale can be found here. 1.83% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Capstone Asset Management Co. raised its stake in Honeywell International by 5.8% in the second quarter. Capstone Asset Management Co. now owns 129,863 shares of the company’s stock valued at $15,106,000 after buying an additional 7,168 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in Honeywell International by 7.0% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 145,296 shares of the company’s stock valued at $16,901,000 after buying an additional 9,517 shares during the period. National Pension Service raised its stake in Honeywell International by 4.2% in the first quarter. National Pension Service now owns 383,695 shares of the company’s stock valued at $42,993,000 after buying an additional 15,529 shares during the period. LPL Financial LLC raised its stake in Honeywell International by 52.7% in the first quarter. LPL Financial LLC now owns 416,083 shares of the company’s stock valued at $46,510,000 after buying an additional 143,685 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in Honeywell International by 31.6% in the first quarter. Panagora Asset Management Inc. now owns 317,482 shares of the company’s stock valued at $35,574,000 after buying an additional 76,249 shares during the period. 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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