Oppenheimer Holdings Research Analysts Cut Earnings Estimates for Honeywell International Inc. (HON)
Honeywell International Inc. (NYSE:HON) – Stock analysts at Oppenheimer Holdings dropped their Q3 2017 EPS estimates for Honeywell International in a research note issued on Thursday. Oppenheimer Holdings analyst C. Glynn now forecasts that the conglomerate will post earnings of $1.69 per share for the quarter, down from their prior estimate of $1.73. Oppenheimer Holdings currently has a “Outperform” rating and a $155.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Honeywell International’s Q4 2017 earnings at $1.90 EPS, FY2018 earnings at $7.75 EPS and FY2019 earnings at $8.50 EPS.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Thursday, July 20th. Morgan Stanley reiterated an “overweight” rating and issued a $141.00 target price (up from $137.00) on shares of Honeywell International in a research note on Thursday, June 22nd. BidaskClub upgraded 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 issued a “buy” rating and a $147.00 target price for the company. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $154.00 target price on shares of Honeywell International in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $149.52.
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Shares of Honeywell International (NYSE:HON) opened at 143.37 on Monday. The firm has a market cap of $109.04 billion, a PE ratio of 22.23 and a beta of 0.95. Honeywell International has a 12 month low of $107.41 and a 12 month high of $145.30. The firm has a 50 day moving average price of $139.95 and a 200-day moving average price of $134.50.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The company had revenue of $10.08 billion during the quarter, compared to analysts’ expectations of $9.89 billion. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in HON. Waldron LP grew its stake in shares of Honeywell International by 70.0% during the first quarter. Waldron LP now owns 6,715 shares of the conglomerate’s stock worth $826,000 after buying an additional 2,765 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Honeywell International by 12.6% during the first quarter. Canada Pension Plan Investment Board now owns 312,610 shares of the conglomerate’s stock worth $39,036,000 after buying an additional 35,098 shares during the last quarter. Weatherly Asset Management L. P. grew its stake in shares of Honeywell International by 0.3% during the first quarter. Weatherly Asset Management L. P. now owns 2,496 shares of the conglomerate’s stock worth $312,000 after buying an additional 8 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new stake in shares of Honeywell International during the first quarter worth $209,000. Finally, Quadrant Capital Management LLC grew its stake in shares of Honeywell International by 3.3% during the first quarter. Quadrant Capital Management LLC now owns 11,255 shares of the conglomerate’s stock worth $1,405,000 after buying an additional 360 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Rajeev Gautam sold 5,840 shares of Honeywell International stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $136.68, for a total value of $798,211.20. Following the transaction, the insider now directly owns 16,597 shares of the company’s stock, valued at $2,268,477.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy O. Mahoney sold 341,701 shares of Honeywell International stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $138.08, for a total transaction of $47,182,074.08. Following the completion of the transaction, the insider now directly owns 294,155 shares in the company, valued at $40,616,922.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,108 shares of company stock valued at $48,886,463. 1.56% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, November 16th. Honeywell International’s payout ratio is presently 41.24%.
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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