Honeywell International Inc. (HON) Upgraded to “Buy” by 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 issued on Thursday. The brokerage presently has a $155.00 target price on the conglomerate’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.25% from the stock’s current price.
According to Zacks, “Honeywell reported healthy second-quarter 2017 results, beating the Zacks Consensus Estimate by 1.1%. 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 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.”
Several other brokerages have also commented on HON. BidaskClub upgraded shares of Honeywell International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. raised their price objective on shares of Honeywell International from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Credit Suisse Group restated a “neutral” rating and issued a $139.00 price objective (up from $131.00) on shares of Honeywell International in a report on Tuesday, July 25th. Morgan Stanley reiterated an “overweight” rating and set a $141.00 target price (up from $137.00) on shares of Honeywell International in a report on Thursday, June 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $155.00 target price (up from $141.00) on shares of Honeywell International in a report on Monday, July 24th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Honeywell International has a consensus rating of “Buy” and an average target price of $139.64.
Honeywell International (NYSE:HON) traded down 1.06% on Thursday, reaching $136.62. The company had a trading volume of 852,135 shares. The firm has a market capitalization of $103.91 billion, a price-to-earnings ratio of 21.18 and a beta of 0.94. Honeywell International has a one year low of $105.25 and a one year high of $140.21. The company’s 50 day moving average is $136.29 and its 200-day moving average is $129.93.
Honeywell International (NYSE:HON) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $1.80 EPS for the quarter, topping 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 business had revenue of $10.08 billion during the quarter, compared to analyst estimates of $9.89 billion. During the same period last year, the business posted $1.70 earnings per share. Honeywell International’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect that Honeywell International will post $7.09 earnings per share for the current fiscal year.
In other Honeywell International news, CFO Thomas A. Szlosek sold 803 shares of Honeywell International stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $137.02, for a total value of $110,027.06. Following the completion of the sale, the chief financial officer now owns 5,702 shares of the company’s stock, valued at approximately $781,288.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jennifer H. Mak sold 5,510 shares of Honeywell International 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 of the company’s stock, valued at approximately $414,235.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,229 shares of company stock valued at $64,546,642. 1.56% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in Honeywell International by 4,986.7% in the second quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock worth $585,822,000 after buying an additional 4,308,688 shares during the period. Ameriprise Financial Inc. increased its stake in Honeywell International by 38.9% in the second quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock worth $1,776,394,000 after buying an additional 3,728,533 shares during the period. Clearbridge Investments LLC increased its stake in 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. Harbour Capital Advisors LLC increased its stake in Honeywell International by 13,551.7% in the second quarter. Harbour Capital Advisors LLC now owns 1,804,613 shares of the conglomerate’s stock worth $13,539,000 after buying an additional 1,791,394 shares during the period. Finally, Vanguard Group Inc. increased its stake in Honeywell International by 2.5% in the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after buying an additional 1,234,672 shares during the period. 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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