Jefferies Group Increases Honeywell International (HON) Price Target to $180.00
Honeywell International (NYSE:HON) had its target price boosted by investment analysts at Jefferies Group from $162.00 to $180.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the conglomerate’s stock. Jefferies Group’s price target suggests a potential upside of 15.53% from the company’s previous close.
A number of other research analysts also recently weighed in on HON. Stifel Nicolaus reduced their target price on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup set a $180.00 target price on shares of Honeywell International and gave the company a “buy” rating in a research report on Thursday. Oppenheimer increased their target price on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday. Morgan Stanley increased their target price on shares of Honeywell International from $141.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. Finally, Robert W. Baird reissued a “buy” rating and set a $156.00 target price (up from $140.00) on shares of Honeywell International in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $159.79.
Honeywell International (HON) traded up $2.06 during trading on Thursday, hitting $155.80. 5,064,100 shares of the stock were exchanged, compared to its average volume of 2,719,647. Honeywell International has a 1 year low of $113.60 and a 1 year high of $156.70. The company has a market cap of $116,323.64, a P/E ratio of 22.11, a P/E/G ratio of 2.36 and a beta of 0.99. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54.
Honeywell International (NYSE:HON) last released its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. During the same period in the prior year, the firm earned $1.60 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. research analysts expect that Honeywell International will post 7.06 earnings per share for the current fiscal year.
Honeywell International announced that its Board of Directors has approved a share buyback plan on Friday, December 8th that allows the company to buyback $6.50 billion in outstanding shares. This buyback authorization allows the conglomerate to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Honeywell International news, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total value of $194,432.48. Following the sale, the director now directly owns 4,002 shares in the company, valued at approximately $585,932.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the completion of the sale, the vice president now owns 104,998 shares in the company, valued at $15,237,309.76. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Honeywell International by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after buying an additional 1,234,672 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Honeywell International by 2.8% in the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after buying an additional 1,207,893 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Honeywell International by 1.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock worth $1,918,100,000 after buying an additional 207,142 shares during the last quarter. FMR LLC increased its holdings in shares of Honeywell International by 9.3% in the 2nd quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after buying an additional 714,881 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Honeywell International by 9.1% in the 2nd quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after buying an additional 629,221 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
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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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