Honeywell International (NYSE:HON) had its price objective lifted by equities researchers at Argus from $160.00 to $170.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a “buy” rating on the conglomerate’s stock. Argus’ price target suggests a potential upside of 10.59% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Honeywell International in a report on Thursday, October 19th. Royal Bank of Canada set a $148.00 price objective on Honeywell International and gave the stock a “buy” rating in a report on Sunday, August 27th. Jefferies Group raised their price objective on Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Zacks Investment Research lowered Honeywell International from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, Stifel Nicolaus dropped their price objective on Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Honeywell International presently has an average rating of “Buy” and an average price target of $160.50.
Shares of Honeywell International (NYSE:HON) opened at $153.72 on Friday. Honeywell International has a 52 week low of $115.42 and a 52 week high of $156.70. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $117,101.27, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.57 and a beta of 0.99.
Honeywell International declared that its board has initiated a share buyback program on Friday, December 8th that authorizes the company to buyback $6.50 billion in outstanding shares. This buyback authorization authorizes the conglomerate to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bradley T. Sheares sold 1,328 shares of the firm’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 transaction, the director now directly owns 4,002 shares in the company, valued at approximately $585,932.82. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hanson McClain Inc. grew its holdings in shares of Honeywell International by 0.4% during the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after buying an additional 3 shares during the last quarter. Addison Capital Co grew its holdings in shares of Honeywell International by 0.3% during the second quarter. Addison Capital Co now owns 2,643 shares of the conglomerate’s stock worth $352,000 after buying an additional 7 shares during the last quarter. Hudock Capital Group LLC boosted its holdings in Honeywell International by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 4,041 shares of the conglomerate’s stock valued at $538,000 after purchasing an additional 14 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its holdings in Honeywell International by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,735 shares of the conglomerate’s stock valued at $499,000 after purchasing an additional 14 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in Honeywell International by 0.6% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,800 shares of the conglomerate’s stock valued at $377,000 after purchasing an additional 16 shares in the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.
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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.
