Analysts Expect Honeywell International Inc. (HON) Will Post Quarterly Sales of $9.83 Billion
Wall Street brokerages predict that Honeywell International Inc. (NYSE:HON) will announce $9.83 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Honeywell International’s earnings, with the lowest sales estimate coming in at $9.71 billion and the highest estimate coming in at $9.89 billion. Honeywell International posted sales of $9.99 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The business is expected to announce its next earnings results on Friday, July 28th.
According to Zacks, analysts expect that Honeywell International will report full-year sales of $9.83 billion for the current fiscal year, with estimates ranging from $39.10 billion to $39.42 billion. For the next fiscal year, analysts anticipate that the business will report sales of $41.08 billion per share, with estimates ranging from $40.53 billion to $42.03 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Honeywell International.
Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, April 21st. The conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Honeywell International had a net margin of 12.43% and a return on equity of 26.58%. The firm had revenue of $9.49 billion during the quarter, compared to analyst estimates of $9.33 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. Honeywell International’s quarterly revenue was down .3% on a year-over-year basis.
HON has been the subject of several analyst reports. Jefferies Group LLC boosted their target price on shares of Honeywell International from $133.00 to $141.00 and gave the company a “positive” rating in a research note on Tuesday, February 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $144.00 price objective on shares of Honeywell International in a research note on Tuesday, April 11th. Credit Suisse Group reaffirmed a “hold” rating and set a $115.00 price objective on shares of Honeywell International in a research note on Tuesday, April 11th. Zacks Investment Research raised shares of Honeywell International from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Tuesday, March 14th. Finally, Barclays PLC upped their price objective on shares of Honeywell International from $139.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, April 25th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $134.05.
Shares of Honeywell International (NYSE HON) opened at 134.63 on Friday. The company has a 50 day moving average of $132.41 and a 200-day moving average of $124.14. Honeywell International has a one year low of $105.25 and a one year high of $135.33. The stock has a market cap of $102.63 billion, a price-to-earnings ratio of 21.20 and a beta of 0.92.
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 19th were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 1.98%. The ex-dividend date was Wednesday, May 17th. Honeywell International’s dividend payout ratio is presently 42.16%.
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In other Honeywell International news, SVP Mark R. James sold 116,441 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $130.47, for a total value of $15,192,057.27. Following the sale, the senior vice president now directly owns 240,826 shares of the company’s stock, valued at $31,420,568.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas A. Szlosek sold 36,080 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $131.16, for a total value of $4,732,252.80. Following the completion of the sale, the chief financial officer now directly owns 2,160 shares in the company, valued at $283,305.60. The disclosure for this sale can be found here. Insiders sold 1,253,667 shares of company stock worth $164,049,416 over the last ninety days. 1.56% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC boosted its position in Honeywell International by 69.2% in the first quarter. Clearbridge Investments LLC now owns 5,171,598 shares of the conglomerate’s stock valued at $645,777,000 after buying an additional 2,114,627 shares during the last quarter. TrueNorth Inc. boosted its position in Honeywell International by 15.7% in the first quarter. TrueNorth Inc. now owns 8,680 shares of the conglomerate’s stock valued at $1,084,000 after buying an additional 1,175 shares during the last quarter. Perigon Wealth Management LLC boosted its position in Honeywell International by 1.8% in the first quarter. Perigon Wealth Management LLC now owns 25,575 shares of the conglomerate’s stock valued at $3,194,000 after buying an additional 463 shares during the last quarter. Columbia Partners L L C Investment Management boosted its position in Honeywell International by 94.4% in the first quarter. Columbia Partners L L C Investment Management now owns 23,996 shares of the conglomerate’s stock valued at $2,996,000 after buying an additional 11,652 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its position in Honeywell International by 35.0% in the first quarter. Sowell Financial Services LLC now owns 1,708 shares of the conglomerate’s stock valued at $226,000 after buying an additional 443 shares during the last quarter. 78.32% of the stock is owned by institutional investors.
Honeywell International Company Profile
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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