Honeywell International Inc. (HON) Downgraded to Hold at Zacks Investment Research
Honeywell International Inc. (NYSE:HON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 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 are likely to peg back its growth momentum to some extent. Honeywell expects a tepid demand pattern for its business jets and mobile scanners in 2017 due to sluggish global growth and a tempered Chinese economy. Consequently, the company projects 2017 revenues to be down 1% to up 2% year over year.”
Several other equities analysts have also recently weighed in on HON. Cowen and Company restated an “outperform” rating and set a $150.00 price target (up previously from $140.00) on shares of Honeywell International in a report on Tuesday, August 8th. Morgan Stanley raised their price target on Honeywell International from $141.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Jefferies Group LLC restated a “buy” rating and set a $155.00 price target on shares of Honeywell International in a report on Tuesday. BidaskClub upgraded Honeywell International from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Finally, Credit Suisse Group restated a “neutral” rating and set a $139.00 price target (up previously from $131.00) on shares of Honeywell International in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $139.64.
Shares of Honeywell International (NYSE HON) traded down 0.26% on Wednesday, reaching $136.54. 590,744 shares of the company were exchanged. The firm has a market capitalization of $103.85 billion, a PE ratio of 21.17 and a beta of 0.94. The stock’s 50-day moving average is $136.49 and its 200 day moving average is $130.38. Honeywell International has a 12-month low of $105.25 and a 12-month high of $140.21.
Honeywell International (NYSE:HON) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.02. The business had revenue of $10.08 billion during the quarter, compared to analysts’ expectations of $9.89 billion. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 EPS. On average, analysts forecast that Honeywell International will post $7.09 EPS for the current year.
In other Honeywell International news, VP Jennifer H. Mak sold 420 shares of Honeywell International stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $136.66, for a total transaction of $57,397.20. Following the completion of the sale, the vice president now directly owns 1,363 shares of the company’s stock, valued at approximately $186,267.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy O. Mahoney sold 341,701 shares of Honeywell International stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $138.08, for a total value of $47,182,074.08. Following the sale, the insider now directly owns 294,155 shares of the company’s stock, valued at $40,616,922.40. The disclosure for this sale can be found here. Insiders have sold a total of 348,268 shares of company stock valued at $48,088,252 over the last three months. 1.56% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Crestwood Advisors Group LLC purchased a new stake in shares of Honeywell International during the first quarter worth $100,000. Peoples Financial Services CORP. raised its stake 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 during the period. Hanson McClain Inc. raised its stake 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 during the period. Burt Wealth Advisors raised its stake in shares of Honeywell International by 65.4% in the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock worth $101,000 after buying an additional 300 shares during the period. Finally, Guidant Wealth Advisors raised its stake in shares of Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after buying an additional 104 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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