Honeywell International Inc. (HON) Upgraded to “Buy” at Zacks Investment Research
Honeywell International Inc. (NYSE:HON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $151.00 price objective on the conglomerate’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.91% from the stock’s previous close.
According to Zacks, “Honeywell’s diversified business portfolio has the potential to earn consistent above-average returns and mitigate operating risks through a balanced organic and inorganic model. A diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positives. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. The company has earmarked $300 million for restructuring efforts to drive further margin expansion. Earnings for 2017 are expected to be up 7–10% year over year to $6.90–$7.10 per share on favorable growth dynamics. The company also outperformed the industry year to date. However, adverse foreign currency translations, high R&D expenses to fend off competition and volatility in commodity prices related to the Brexit referendum are likely to peg back its growth momentum to some extent.”
HON has been the subject of several other reports. Credit Suisse Group reaffirmed a “hold” rating and set a $122.00 price objective on shares of Honeywell International in a research note on Friday, April 21st. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $148.00 price objective on shares of Honeywell International in a research note on Tuesday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $141.00 price objective (up from $137.00) on shares of Honeywell International in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $141.00 price objective on shares of Honeywell International in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Honeywell International in a research note on Friday, May 26th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $136.10.
Shares of Honeywell International (NYSE HON) traded down 0.69% during midday trading on Thursday, hitting $135.21. 1,395,329 shares of the stock were exchanged. The firm has a 50-day moving average of $134.12 and a 200-day moving average of $127.18. Honeywell International has a 1-year low of $105.25 and a 1-year high of $136.41. The company has a market capitalization of $103.08 billion, a P/E ratio of 21.29 and a beta of 0.95.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, April 21st. The conglomerate reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $9.49 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Honeywell International had a net margin of 12.43% and a return on equity of 26.58%. Honeywell International’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 earnings per share. On average, equities analysts expect that Honeywell International will post $7.09 EPS for the current year.
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In other Honeywell International news, VP Jennifer H. Mak sold 5,510 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $131.88, for a total value of $726,658.80. Following the completion of the transaction, the vice president now directly owns 3,141 shares in the company, valued at $414,235.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark R. James sold 116,441 shares of the business’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $130.47, for a total transaction of $15,192,057.27. Following the completion of the transaction, the senior vice president now owns 240,826 shares of the company’s stock, valued at $31,420,568.22. The disclosure for this sale can be found here. Insiders sold 1,253,667 shares of company stock valued at $164,049,416 over the last quarter. 1.56% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in HON. Jolley Asset Management LLC increased its position in shares of Honeywell International by 6.9% in the second quarter. Jolley Asset Management LLC now owns 775 shares of the conglomerate’s stock worth $103,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Honeywell International during the first quarter worth approximately $100,000. Hanson McClain Inc. increased its position in shares of Honeywell International by 0.4% in the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after buying an additional 3 shares in the last quarter. Peoples Financial Services CORP. increased its position in shares of Honeywell International by 62.2% in the first quarter. Peoples Financial Services CORP. now owns 811 shares of the conglomerate’s stock worth $101,000 after buying an additional 311 shares in the last quarter. Finally, MCF Advisors LLC increased its position in shares of Honeywell International by 55.8% in the first quarter. MCF Advisors LLC now owns 935 shares of the conglomerate’s stock worth $117,000 after buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 76.36% of the company’s stock.
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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