Zacks Investment Research Upgrades Honeywell International Inc. (HON) to Buy
Honeywell International Inc. (NYSE:HON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $154.00 price target on the conglomerate’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.12% 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. The company’s balanced mix of long- and short-cycle businesses, along with a decent organic growth in new products and expansion in high-growth regions augur well on a long-term perspective. 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.”
A number of other analysts have also weighed in on HON. Morgan Stanley reissued an “overweight” rating and issued a $141.00 price objective (up from $137.00) on shares of Honeywell International in a research report on Thursday, June 22nd. BidaskClub raised shares of Honeywell International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. HSBC Holdings plc initiated coverage on shares of Honeywell International in a research report on Wednesday, June 21st. They issued a “buy” rating and a $147.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $155.00 price objective (up from $141.00) on shares of Honeywell International in a research report on Monday, July 24th. Finally, Cowen and Company reissued a “buy” rating and issued a $140.00 price objective on shares of Honeywell International in a research report on Monday, July 17th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $141.24.
Honeywell International (NYSE HON) traded up 1.52% on Friday, hitting $139.29. The stock had a trading volume of 2,139,209 shares. Honeywell International has a 52-week low of $105.25 and a 52-week high of $140.21. The company’s 50 day moving average price is $137.47 and its 200 day moving average price is $132.06. The firm has a market cap of $105.94 billion, a price-to-earnings ratio of 21.60 and a beta of 0.94.
Honeywell International (NYSE:HON) last announced its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.02. The firm had revenue of $10.08 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 EPS. Analysts expect that Honeywell International will post $7.09 EPS for the current year.
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In other Honeywell International news, insider Timothy O. Mahoney sold 341,701 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 294,155 shares in the company, valued at $40,616,922.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer H. Mak sold 420 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were 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 owns 1,363 shares of the company’s stock, valued at $186,267.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,108 shares of company stock worth $48,886,463. Insiders own 1.56% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in HON. Janus Henderson Group PLC boosted 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 valued at $585,822,000 after acquiring an additional 4,308,688 shares in the last quarter. Ameriprise Financial Inc. boosted 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 valued at $1,776,394,000 after acquiring an additional 3,728,533 shares in the last quarter. Clearbridge Investments LLC boosted 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 valued at $645,777,000 after acquiring an additional 2,114,627 shares in the last quarter. Harbour Capital Advisors LLC boosted 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 valued at $13,539,000 after acquiring an additional 1,791,394 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 valued at $6,626,247,000 after acquiring an additional 1,234,672 shares in the last quarter. Institutional investors own 75.91% 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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