Honeywell International Inc. (HON) Price Target Increased to $145.00 by Analysts at Morgan Stanley
Honeywell International Inc. (NYSE:HON) had its price objective lifted by equities research analysts at Morgan Stanley from $141.00 to $145.00 in a research report issued on Wednesday. The brokerage presently has an “overweight” rating on the conglomerate’s stock. Morgan Stanley’s price target indicates a potential upside of 5.01% from the company’s current price.
Several other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a report on Thursday, July 20th. Barclays PLC raised their price target 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. BidaskClub upgraded shares of Honeywell International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Citigroup Inc. raised their price target on shares of Honeywell International from $140.00 to $147.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Finally, HSBC Holdings plc started coverage on shares of Honeywell International in a report on Wednesday, June 21st. They issued a “buy” rating and a $147.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $139.40.
Honeywell International (NYSE:HON) traded up 0.97% during midday trading on Wednesday, hitting $138.08. 2,001,692 shares of the stock were exchanged. The firm has a 50 day moving average of $136.15 and a 200-day moving average of $129.87. Honeywell International has a 12-month low of $105.25 and a 12-month high of $140.21. The stock has a market cap of $105.02 billion, a price-to-earnings ratio of 21.41 and a beta of 0.94.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The firm had revenue of $10.08 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same quarter last year, the firm posted $1.70 earnings per share. Honeywell International’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts expect that Honeywell International will post $7.09 earnings per share for the current year.
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In other news, SVP Katherine L. Adams sold 116,021 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $131.70, for a total transaction of $15,279,965.70. Following the completion of the sale, the senior vice president now owns 286,199 shares of the company’s stock, valued at $37,692,408.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy O. Mahoney sold 341,701 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total transaction of $47,182,074.08. Following the sale, the insider now directly owns 294,155 shares of the company’s stock, valued at approximately $40,616,922.40. The disclosure for this sale can be found here. Insiders have sold 473,229 shares of company stock valued at $64,546,642 in the last three months. Corporate insiders own 1.56% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HON. Cardinal Capital Management increased its stake in Honeywell International by 0.8% in the fourth quarter. Cardinal Capital Management now owns 119,539 shares of the conglomerate’s stock worth $12,381,000 after buying an additional 995 shares during the last quarter. Private Asset Management increased its position in Honeywell International by 7.1% in the fourth quarter. Private Asset Management now owns 4,500 shares of the conglomerate’s stock worth $466,000 after buying an additional 300 shares in the last quarter. Community Trust & Investment Company increased its position in Honeywell International by 1.2% in the fourth quarter. Community Trust & Investment Company now owns 137,687 shares of the conglomerate’s stock worth $14,260,000 after buying an additional 1,690 shares in the last quarter. GW & Wade increased its position in Honeywell International by 4.3% in the fourth quarter. GW & Wade now owns 54,668 shares of the conglomerate’s stock worth $5,662,000 after buying an additional 2,274 shares in the last quarter. Finally, Boulegeris Investments Inc. increased its position in Honeywell International by 3.7% in the fourth quarter. Boulegeris Investments Inc. now owns 22,940 shares of the conglomerate’s stock worth $2,376,000 after buying an additional 816 shares in the last quarter. 76.49% of the stock is owned by institutional investors and hedge funds.
About Honeywell International
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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