Brokers Offer Predictions for Honeywell International Inc.’s Q3 2016 Earnings (HON)
Honeywell International Inc. (NYSE:HON) – Stock analysts at William Blair dropped their Q3 2016 EPS estimates for Honeywell International in a research report issued on Thursday. William Blair analyst N. Heymann now forecasts that the brokerage will post earnings per share of $1.60 for the quarter, down from their previous estimate of $1.67. William Blair also issued estimates for Honeywell International’s Q4 2016 earnings at $1.74 EPS.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.66 earnings per share for the quarter, topping the 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 firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $10.13 billion. During the same period in the prior year, the business posted $1.51 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Monday, June 27th. Stifel Nicolaus lowered their price objective on Honeywell International from $129.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 25th. Bank of America Corp. set a $132.00 price objective on Honeywell International and gave the stock a “buy” rating in a report on Monday, July 25th. Citigroup Inc. restated a “buy” rating and set a $132.00 target price on shares of Honeywell International in a report on Thursday, June 30th. Finally, Morgan Stanley restated a “buy” rating and set a $126.00 target price on shares of Honeywell International in a report on Thursday, June 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $123.00.
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Honeywell International (NYSE:HON) opened at 109.00 on Monday. 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 price of $114.03 and a 200 day moving average price of $114.93. The company has a market cap of $82.94 billion, a PE ratio of 17.24 and a beta of 1.05.
Institutional investors have recently modified their holdings of the company. American National Bank increased its position 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 increased its position 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. Bruderman Asset Management LLC increased its position 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. Cable Hill Partners LLC increased its position 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. Finally, Zions Bancorporation increased its position in Honeywell International by 14.6% in the first quarter. Zions Bancorporation now owns 1,332 shares of the company’s stock valued at $152,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.
In related news, SVP Katherine L. Adams sold 108,712 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 224,530 shares in the company, valued at $26,074,668.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Andreas Kramvis sold 1,850 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $114.80, for a total transaction of $212,380.00. Following 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. Corporate insiders own 1.83% of the company’s stock.
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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