Honeywell International Inc. (HON) Stock Rating Reaffirmed by Morgan Stanley
Honeywell International Inc. (NYSE:HON)‘s stock had its “overweight” rating reissued by Morgan Stanley in a research note issued on Thursday. They presently have a $141.00 target price on the conglomerate’s stock, up from their previous target price of $137.00. Morgan Stanley’s target price points to a potential upside of 5.17% from the company’s current price.
Several other equities analysts also recently weighed in on the stock. Barclays PLC raised their target price on shares of Honeywell International from $139.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, April 25th. Zacks Investment Research downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Citigroup Inc. raised their price target on shares of Honeywell International from $140.00 to $147.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Credit Suisse Group reaffirmed a “hold” rating and set a $115.00 price target on shares of Honeywell International in a research note on Tuesday, April 11th. Finally, Stifel Nicolaus raised their price target on shares of Honeywell International from $136.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $135.34.
Shares of Honeywell International (HON) traded down 0.13% during midday trading on Thursday, hitting $134.07. 1,879,414 shares of the stock were exchanged. The firm has a market cap of $102.21 billion, a PE ratio of 21.11 and a beta of 0.92. Honeywell International has a 12-month low of $105.25 and a 12-month high of $135.90. The firm has a 50-day moving average price of $132.66 and a 200 day moving average price of $124.62.
Honeywell International (NYSE:HON) last posted its earnings results on Friday, April 21st. The conglomerate reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $9.33 billion. During the same period last year, the firm posted $1.56 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts predict that Honeywell International will post $7.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 19th were given a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.66 annualized dividend and a dividend yield of 1.98%. Honeywell International’s dividend payout ratio is presently 42.16%.
In related news, Director Bradley T. Sheares sold 3,430 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $131.71, for a total value of $451,765.30. Following the sale, the director now directly owns 8,731 shares of the company’s stock, valued at $1,149,960.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer H. Mak sold 5,510 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $131.88, for a total transaction of $726,658.80. Following the completion of the sale, the vice president now directly owns 3,141 shares in the company, valued at $414,235.08. 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 three months. Corporate insiders own 1.56% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Honeywell International by 6.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,046 shares of the conglomerate’s stock worth $2,554,000 after buying an additional 1,310 shares during the period. MUFG Americas Holdings Corp boosted its position in shares of Honeywell International by 9.9% in the fourth quarter. MUFG Americas Holdings Corp now owns 86,699 shares of the conglomerate’s stock worth $10,044,000 after buying an additional 7,826 shares during the period. Comerica Bank boosted its position in shares of Honeywell International by 4.3% in the fourth quarter. Comerica Bank now owns 265,806 shares of the conglomerate’s stock worth $31,384,000 after buying an additional 10,993 shares during the period. Hall Capital Management Co. Inc. acquired a new position in shares of Honeywell International during the fourth quarter worth $1,545,000. Finally, Burney Co. boosted its position in shares of Honeywell International by 12.5% in the fourth quarter. Burney Co. now owns 8,155 shares of the conglomerate’s stock worth $945,000 after buying an additional 907 shares during the period. 78.06% of the stock is currently owned by hedge funds and other 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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