The Goldman Sachs Group Has Lowered Expectations for Honeywell International (NASDAQ:HON) Stock Price

Honeywell International (NASDAQ:HON) had its price target decreased by equities research analysts at The Goldman Sachs Group from $245.00 to $236.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 18.06% from the company’s current price.

HON has been the topic of several other research reports. Jefferies Financial Group cut their target price on Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Barclays lowered their price target on Honeywell International from $270.00 to $269.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. Evercore ISI assumed coverage on shares of Honeywell International in a research note on Monday. They set an “outperform” rating and a $255.00 price objective on the stock. Robert W. Baird decreased their price objective 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. Finally, Wells Fargo & Company lowered their target price on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating for the company in a research note on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $236.56.

Honeywell International Trading Up 0.8%

HON opened at $199.89 on Tuesday. The firm has a 50 day simple moving average of $198.62 and a 200 day simple moving average of $213.78. Honeywell International has a fifty-two week low of $169.21 and a fifty-two week high of $228.04. The company has a market cap of $126.91 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.65 and a beta of 0.96. 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 released its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The firm had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. 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. On average, sell-side analysts anticipate that Honeywell International will post 10.34 earnings per share for the current year.

Hedge Funds Weigh In On Honeywell International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HON. Farmers National Bank raised its stake in shares of Honeywell International by 2.4% in the 3rd quarter. Farmers National Bank now owns 33,260 shares of the conglomerate’s stock valued at $7,001,000 after purchasing an additional 795 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Honeywell International during the third quarter worth about $430,000. Hudson Bay Capital Management LP raised its position in Honeywell International by 634.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 42,386 shares of the conglomerate’s stock valued at $8,922,000 after buying an additional 50,317 shares during the last quarter. Saranac Partners Ltd bought a new stake in Honeywell International in the 3rd quarter valued at approximately $305,000. Finally, Severin Investments LLC bought a new stake in Honeywell International in the 3rd quarter valued at approximately $327,000. 75.91% of the stock is owned by institutional investors and hedge funds.

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.