Honeywell International Inc. (HON) Downgraded by Zacks Investment Research to Hold
Honeywell International Inc. (NYSE:HON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
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 also expects a tepid demand pattern for its business jets and mobile scanners in 2017 due to sluggish global growth, volatility in crude oil prices and a tempered Chinese economy.”
A number of other equities analysts have also commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $141.00 price objective (up previously from $137.00) on shares of Honeywell International in a research note on Thursday, June 22nd. BidaskClub raised shares of Honeywell International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. HSBC Holdings plc started coverage on shares of Honeywell International in a research note on Wednesday, June 21st. They issued a “buy” rating and a $147.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $155.00 price objective (up previously from $141.00) on shares of Honeywell International in a research note on Monday, July 24th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Honeywell International in a research note on Monday, July 17th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $141.24.
Honeywell International (NYSE:HON) traded down 1.18% during midday trading on Monday, reaching $137.31. The company had a trading volume of 1,398,358 shares. Honeywell International has a 52-week low of $105.25 and a 52-week high of $140.21. The company has a market capitalization of $104.43 billion, a P/E ratio of 21.29 and a beta of 0.94. The company’s 50 day moving average is $137.53 and its 200-day moving average is $132.16.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (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 firm had revenue of $10.08 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same quarter in the previous year, the business posted $1.70 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities 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 the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $137.02, for a total value of $110,027.06. Following the transaction, the chief financial officer now directly owns 5,702 shares in the company, valued at $781,288.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jennifer H. Mak sold 420 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 1,363 shares in the company, 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. 1.56% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Burt Wealth Advisors boosted its position in Honeywell International by 65.4% in the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock valued at $101,000 after buying an additional 300 shares in the last quarter. Mosaic Family Wealth LLC boosted its position in Honeywell International by 11.4% in the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock valued at $102,000 after buying an additional 78 shares in the last quarter. Guidant Wealth Advisors boosted its position in Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after buying an additional 104 shares in the last quarter. Jolley Asset Management LLC boosted its position in Honeywell International by 6.9% in the second quarter. Jolley Asset Management LLC now owns 775 shares of the conglomerate’s stock valued at $103,000 after buying an additional 50 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new position in Honeywell International in the first quarter valued at about $100,000. Hedge funds and other institutional investors own 75.77% 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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