Barclays Cuts Honeywell International (NASDAQ:HON) Price Target to $269.00

Honeywell International (NASDAQ:HON) had its price objective trimmed by Barclays from $270.00 to $269.00 in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the conglomerate’s stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. TD Cowen dropped their target price on Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Robert W. Baird reduced their price target on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Argus dropped their price objective on shares of Honeywell International from $250.00 to $225.00 in a report on Friday, November 14th. Finally, Rothschild & Co Redburn cut their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $236.71.

Honeywell International Stock Down 0.5%

HON stock opened at $191.33 on Thursday. The firm has a market cap of $121.47 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.60 and a beta of 0.96. Honeywell International has a 1-year low of $169.21 and a 1-year high of $228.04. The firm has a fifty day moving average price of $201.03 and a two-hundred day moving average price of $215.41. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. Research analysts predict that Honeywell International will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio (DPR) is currently 50.16%.

Institutional Investors Weigh In On Honeywell International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HON. Triton Financial Group Inc purchased a new stake in Honeywell International in the 2nd quarter worth about $1,001,000. Amundi increased its holdings in shares of Honeywell International by 30.2% in the 1st quarter. Amundi now owns 519,882 shares of the conglomerate’s stock valued at $107,450,000 after purchasing an additional 120,706 shares during the period. Managed Asset Portfolios LLC lifted its position in shares of Honeywell International by 2.3% in the second quarter. Managed Asset Portfolios LLC now owns 95,833 shares of the conglomerate’s stock worth $22,317,000 after purchasing an additional 2,154 shares in the last quarter. Baxter Bros Inc. boosted its holdings in shares of Honeywell International by 14.6% during the second quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock worth $8,321,000 after purchasing an additional 4,543 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in Honeywell International by 11.4% during the first quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate’s stock valued at $6,035,000 after purchasing an additional 2,915 shares in the last quarter. Institutional investors own 75.91% of the company’s stock.

Honeywell International Company Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.