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 Thursday. The brokerage currently has a $154.00 target price on the conglomerate’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.04% from the company’s current price.
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. 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. 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.”
Several other equities analysts also recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $141.00 price target (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 began coverage on shares of Honeywell International in a research note on Wednesday, June 21st. They set a “buy” rating and a $147.00 price target for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $155.00 price target (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 set a $140.00 price target on shares of Honeywell International in a research note on Monday, July 17th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $141.24.
Shares of Honeywell International (HON) opened at 138.69 on Thursday. The firm’s 50-day moving average is $137.60 and its 200-day moving average is $132.42. Honeywell International has a 12-month low of $105.25 and a 12-month high of $140.21. The firm has a market cap of $105.48 billion, a price-to-earnings ratio of 21.51 and a beta of 0.94.
Honeywell International (NYSE:HON) last issued its quarterly earnings data 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. The business had revenue of $10.08 billion during the quarter, compared to the consensus estimate of $9.89 billion. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. Analysts predict that Honeywell International will post $7.09 earnings per share for the current fiscal year.
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In other Honeywell International news, Director Linnet F. Deily sold 4,344 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $138.47, for a total value of $601,513.68. Following the completion of the sale, the director now directly owns 9,753 shares in the company, valued at $1,350,497.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy O. Mahoney sold 341,701 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now 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 sold 354,108 shares of company stock valued at $48,886,463 over the last 90 days. Corporate insiders own 1.56% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Hanson McClain Inc. grew its holdings in 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 purchasing an additional 3 shares during the period. Addison Capital Co grew its holdings in Honeywell International by 0.3% in the second quarter. Addison Capital Co now owns 2,643 shares of the conglomerate’s stock worth $352,000 after purchasing an additional 7 shares during the period. Weatherly Asset Management L. P. grew its holdings in Honeywell International by 0.3% in the first quarter. Weatherly Asset Management L. P. now owns 2,496 shares of the conglomerate’s stock worth $312,000 after purchasing an additional 8 shares during the period. Reilly Financial Advisors LLC grew its holdings in Honeywell International by 1.1% in the third quarter. Reilly Financial Advisors LLC now owns 888 shares of the conglomerate’s stock worth $104,000 after purchasing an additional 10 shares during the period. Finally, Keel Point LLC grew its holdings in Honeywell International by 0.3% in the first quarter. Keel Point LLC now owns 3,487 shares of the conglomerate’s stock worth $435,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds 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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