Oppenheimer Holdings Inc. Reiterates “Outperform” Rating for Honeywell International Inc. (HON)
Honeywell International Inc. (NYSE:HON)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer Holdings Inc. in a research note issued to investors on Wednesday. They currently have a $122.00 target price on the stock, down from their prior target price of $128.00. Oppenheimer Holdings Inc.’s price objective suggests a potential upside of 15.33% from the company’s previous close.
Other research analysts also recently issued reports about the company. Morgan Stanley increased their price objective on Honeywell International from $129.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 25th. Bank of America Corp. set a $132.00 price objective on Honeywell International and gave the company a “buy” rating 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. Barclays PLC increased 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. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Honeywell International in a research note on Monday, June 27th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $122.83.
Honeywell International (NYSE:HON) traded up 1.61% on Wednesday, reaching $107.48. 3,680,882 shares of the company’s stock traded hands. The stock has a market capitalization of $81.78 billion, a price-to-earnings ratio of 17.00 and a beta of 1.05. The firm has a 50-day moving average price of $114.76 and a 200-day moving average price of $115.05. Honeywell International has a 52 week low of $93.71 and a 52 week high of $120.02.
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Honeywell International (NYSE:HON) last announced its earnings results on Friday, July 22nd. The company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.02. The business earned $9.78 billion during the quarter, compared to the consensus estimate of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 EPS. On average, analysts predict that Honeywell International will post $6.68 earnings per share for the current year.
In other news, CEO David M. Cote sold 534,505 shares of Honeywell International stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $116.15, for a total value of $62,082,755.75. Following the completion of the transaction, the chief executive officer now owns 700,000 shares in the company, valued at approximately $81,305,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Andreas Kramvis sold 1,850 shares of Honeywell International stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $114.80, for a total value of $212,380.00. Following the completion of the transaction, the insider now owns 66,441 shares of the company’s stock, valued at approximately $7,627,426.80. The disclosure for this sale can be found here. 1.83% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. acquired a new stake in Honeywell International during the second quarter valued at $351,643,000. Vanguard Group Inc. boosted 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 valued at $5,196,607,000 after buying an additional 1,587,804 shares during the last quarter. UBS Asset Management Americas Inc. boosted 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 valued at $374,917,000 after buying an additional 1,547,970 shares during the last quarter. Boston Partners boosted 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 valued at $386,068,000 after buying an additional 1,100,961 shares during the last quarter. Finally, Investec Asset Management LTD boosted 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 valued at $231,899,000 after buying an additional 918,891 shares during the last quarter. Institutional investors and hedge funds 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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