Credit Suisse Group Reaffirms “Neutral” Rating for Honeywell International Inc. (HON)
Honeywell International Inc. (NYSE:HON)‘s stock had its “neutral” rating reissued by equities research analysts at Credit Suisse Group in a note issued to investors on Monday, The Fly reports. They presently have a $150.00 price target on the conglomerate’s stock, up from their prior price target of $141.00. Credit Suisse Group’s price objective indicates a potential upside of 3.20% from the company’s current price.
A number of other brokerages have also recently issued reports on HON. Royal Bank Of Canada boosted their price objective on shares of Honeywell International from $148.00 to $156.00 and gave the company an “outperform” rating in a report on Monday. Citigroup Inc. boosted their price objective on shares of Honeywell International from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 9th. Vertical Research restated a “buy” rating on shares of Honeywell International in a report on Friday. Cowen and Company restated a “buy” rating and set a $150.00 price objective on shares of Honeywell International in a report on Tuesday, October 10th. Finally, Robert W. Baird restated a “buy” rating and set a $156.00 price objective (up previously from $140.00) on shares of Honeywell International in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $150.79.
Shares of Honeywell International (NYSE HON) opened at 145.70 on Monday. The firm has a market capitalization of $110.81 billion, a price-to-earnings ratio of 22.59 and a beta of 0.95. The company’s 50-day moving average is $140.77 and its 200 day moving average is $135.04. Honeywell International has a 1-year low of $107.51 and a 1-year high of $146.49.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, hitting the consensus estimate of $1.75. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The company had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same quarter in the previous year, the company earned $1.60 EPS. Honeywell International’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Honeywell International will post $7.09 EPS for the current fiscal year.
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In related news, VP Jennifer H. Mak sold 420 shares of the company’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 sale, the vice president now owns 1,363 shares of the company’s stock, valued at $186,267.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajeev Gautam sold 5,840 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $136.68, for a total transaction of $798,211.20. Following the sale, the insider now directly owns 16,597 shares of the company’s stock, valued at approximately $2,268,477.96. The disclosure for this sale can be found here. Insiders sold 354,108 shares of company stock worth $48,886,463 over the last 90 days. 1.56% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of HON. Waldron LP lifted its position in 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 purchasing an additional 2,765 shares during the period. Winch Advisory Services LLC lifted its holdings in shares of Honeywell International by 51.1% in the first quarter. Winch Advisory Services LLC now owns 2,729 shares of the conglomerate’s stock worth $341,000 after acquiring an additional 923 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Honeywell International by 5.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 918,802 shares of the conglomerate’s stock worth $114,731,000 after acquiring an additional 50,247 shares during the last quarter. Webster Bank N. A. lifted its holdings in shares of Honeywell International by 6.1% in the first quarter. Webster Bank N. A. now owns 9,436 shares of the conglomerate’s stock worth $1,178,000 after acquiring an additional 540 shares during the last quarter. Finally, ING Groep NV lifted its holdings in shares of Honeywell International by 434.1% in the first quarter. ING Groep NV now owns 239,027 shares of the conglomerate’s stock worth $29,847,000 after acquiring an additional 194,272 shares during the last quarter. 75.73% 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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