Honeywell International Inc. (HON) Issues Quarterly Earnings Results
Honeywell International Inc. (NYSE:HON) issued its earnings results on Friday. The conglomerate reported $1.80 EPS for the quarter, beating the consensus estimate of $1.78 by $0.02, Bloomberg Earnings reports. Honeywell International had a return on equity of 26.58% and a net margin of 12.43%. The business had revenue of $10.08 billion for the quarter, compared to the consensus estimate of $9.89 billion. During the same period last year, the business posted $1.70 EPS. The company’s revenue was up .9% compared to the same quarter last year. Honeywell International updated its FY17 guidance to $7.00-7.10 EPS and its Q3 guidance to $1.70-1.75 EPS.
Shares of Honeywell International (HON) traded up 1.40% on Friday, hitting $136.84. The company’s stock had a trading volume of 1,789,397 shares. The firm has a market cap of $104.32 billion, a price-to-earnings ratio of 21.55 and a beta of 0.95. The stock has a 50-day moving average price of $134.17 and a 200 day moving average price of $127.24. Honeywell International has a one year low of $105.25 and a one year high of $137.42.
HON has been the topic of a number of research reports. Zacks Investment Research downgraded Honeywell International from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Credit Suisse Group reiterated a “hold” rating and set a $115.00 target price on shares of Honeywell International in a research report on Tuesday, April 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $144.00 target price on shares of Honeywell International in a research report on Tuesday, April 11th. Cowen and Company reiterated a “buy” rating on shares of Honeywell International in a research report on Monday, April 24th. Finally, Barclays PLC lifted their target price on Honeywell International from $139.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $136.10.
In other Honeywell International news, VP Jennifer H. Mak sold 5,510 shares of Honeywell International stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $131.88, for a total value of $726,658.80. Following the transaction, the vice president now directly owns 3,141 shares in the company, valued at $414,235.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David M. Cote sold 969,650 shares of Honeywell International stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $130.78, for a total transaction of $126,810,827.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,253,667 shares of company stock valued at $164,049,416 in the last ninety days. 1.56% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HON. Ameriprise Financial Inc. raised its position in shares of Honeywell International by 8.8% in the first quarter. Ameriprise Financial Inc. now owns 9,594,726 shares of the conglomerate’s stock worth $1,198,584,000 after buying an additional 773,734 shares during the period. Clearbridge Investments LLC raised its position in shares of Honeywell International by 69.2% in the first quarter. Clearbridge Investments LLC now owns 5,171,598 shares of the conglomerate’s stock worth $645,777,000 after buying an additional 2,114,627 shares during the period. Swiss National Bank raised its position in shares of Honeywell International by 27.4% in the first quarter. Swiss National Bank now owns 2,565,473 shares of the conglomerate’s stock worth $320,351,000 after buying an additional 552,100 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Honeywell International by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,343,756 shares of the conglomerate’s stock worth $292,665,000 after buying an additional 106,870 shares during the period. Finally, AGF Investments Inc. raised its position in shares of Honeywell International by 5.5% in the first quarter. AGF Investments Inc. now owns 2,044,066 shares of the conglomerate’s stock worth $255,029,000 after buying an additional 105,943 shares during the period. Institutional investors own 76.36% of the company’s stock.
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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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