Brokers Set Expectations for Honeywell International Inc.’s Q1 2018 Earnings (HON)
Honeywell International Inc. (NYSE:HON) – Equities researchers at Oppenheimer lifted their Q1 2018 earnings per share estimates for shares of Honeywell International in a research note issued to investors on Wednesday. Oppenheimer analyst C. Glynn now anticipates that the conglomerate will post earnings per share of $1.82 for the quarter, up from their previous estimate of $1.78. Oppenheimer currently has a “Outperform” rating and a $168.00 price target on the stock. Oppenheimer also issued estimates for Honeywell International’s Q2 2018 earnings at $1.93 EPS, Q3 2018 earnings at $1.93 EPS, Q4 2018 earnings at $2.02 EPS and FY2019 earnings at $8.40 EPS.
Honeywell International (NYSE:HON) last released its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The firm had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same period in the previous year, the firm posted $1.60 EPS. Honeywell International’s revenue for the quarter was up 3.2% on a year-over-year basis.
Honeywell International (NYSE HON) traded down $2.57 on Friday, reaching $153.23. The company had a trading volume of 3,142,000 shares, compared to its average volume of 2,721,400. Honeywell International has a 1 year low of $113.60 and a 1 year high of $156.70. The firm has a market cap of $117,911.05, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.09.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were given a dividend of $0.745 per share. This is a boost from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 16th. Honeywell International’s dividend payout ratio is currently 45.15%.
Honeywell International announced that its board has approved a stock buyback plan on Friday, December 8th that authorizes the company to buyback $6.50 billion in shares. This buyback authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the sale, the director now directly owns 4,002 shares of the company’s stock, valued at approximately $585,932.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the sale, the vice president now directly owns 104,998 shares of the company’s stock, 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.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in shares of Honeywell International by 5.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,729,219 shares of the conglomerate’s stock valued at $245,100,000 after purchasing an additional 89,351 shares during the period. AXA raised its stake in Honeywell International by 8.4% during the 3rd quarter. AXA now owns 950,701 shares of the conglomerate’s stock valued at $134,752,000 after acquiring an additional 74,040 shares during the last quarter. Wagner Bowman Management Corp raised its stake in Honeywell International by 8.2% during the 3rd quarter. Wagner Bowman Management Corp now owns 6,277 shares of the conglomerate’s stock valued at $889,000 after acquiring an additional 475 shares during the last quarter. Institutional & Family Asset Management LLC raised its stake in Honeywell International by 8.1% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 5,401 shares of the conglomerate’s stock valued at $766,000 after acquiring an additional 405 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Honeywell International during the 3rd quarter valued at approximately $2,409,000. 76.04% of the stock is owned by hedge funds and other institutional investors.
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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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