Honeywell International (NASDAQ:HON) Stock Price Expected to Rise, Argus Analyst Says

Honeywell International (NASDAQ:HONGet Free Report) had its price target boosted by Argus from $225.00 to $250.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the conglomerate’s stock. Argus’ target price indicates a potential upside of 12.34% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Citigroup reduced their price objective on shares of Honeywell International from $267.00 to $262.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Honeywell International to a “hold” rating in a research note on Saturday, January 3rd. DZ Bank reduced their price target on shares of Honeywell International from $248.00 to $237.00 in a research report on Tuesday, December 23rd. Rothschild & Co Redburn decreased their price target on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Finally, Barclays cut their price objective on Honeywell International from $269.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 24th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.67.

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Honeywell International Price Performance

HON stock opened at $222.54 on Wednesday. The stock’s 50 day moving average is $198.88 and its two-hundred day moving average is $209.69. Honeywell International has a 52-week low of $169.21 and a 52-week high of $228.04. The company has a market capitalization of $141.29 billion, a PE ratio of 23.45, a P/E/G ratio of 2.41 and a beta of 0.95. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HONGet Free Report) last released its quarterly earnings results on Thursday, October 23rd. The conglomerate reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $10.14 billion. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. Analysts predict that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Honeywell International

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in Honeywell International by 15,459.1% in the 4th quarter. SG Americas Securities LLC now owns 4,057,960 shares of the conglomerate’s stock valued at $791,667,000 after purchasing an additional 4,031,879 shares during the last quarter. Laurel Wealth Advisors LLC grew its position in Honeywell International by 23,503.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock worth $865,506,000 after purchasing an additional 3,700,786 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Honeywell International by 28.8% in the third quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate’s stock valued at $2,146,372,000 after purchasing an additional 2,277,234 shares during the period. Marshall Wace LLP increased its stake in shares of Honeywell International by 130.0% in the third quarter. Marshall Wace LLP now owns 1,845,032 shares of the conglomerate’s stock valued at $388,379,000 after purchasing an additional 1,042,972 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Honeywell International by 424.3% during the third quarter. Two Sigma Investments LP now owns 1,153,754 shares of the conglomerate’s stock valued at $242,865,000 after buying an additional 933,694 shares during the last quarter. 75.91% of the stock is currently owned by institutional investors.

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Honeywell International Company Profile

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Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.

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