Honeywell International (NASDAQ:HON) Hits New 12-Month High Following Analyst Upgrade

Honeywell International Inc. (NASDAQ:HON) hit a new 52-week high during trading on Monday after Wolfe Research upgraded the stock from a peer perform rating to an outperform rating. Wolfe Research now has a $293.00 price target on the stock. Honeywell International traded as high as $246.56 and last traded at $244.9070, with a volume of 897292 shares trading hands. The stock had previously closed at $243.59.

Several other research firms also recently weighed in on HON. Weiss Ratings restated a “hold (c+)” rating on shares of Honeywell International in a report on Monday, December 29th. Bank of America reissued an “underperform” rating and set a $205.00 price objective (down from $265.00) on shares of Honeywell International in a research note on Tuesday, November 18th. HSBC reduced their target price on Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Evercore raised their price target on Honeywell International from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company upped their price objective on Honeywell International from $215.00 to $235.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Honeywell International presently has an average rating of “Moderate Buy” and a consensus price target of $250.17.

Insider Activity

In other Honeywell International news, VP Robert D. Mailloux sold 5,274 shares of Honeywell International stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $239.00, for a total value of $1,260,486.00. Following the completion of the sale, the vice president owned 4,803 shares in the company, valued at $1,147,917. The trade was a 52.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director D Scott Davis sold 2,367 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $240.00, for a total transaction of $568,080.00. Following the transaction, the director owned 31,081 shares in the company, valued at approximately $7,459,440. The trade was a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,190 shares of company stock valued at $4,244,287 in the last 90 days. 0.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HON. J. Stern & Co. LLP lifted its stake in shares of Honeywell International by 22,704.6% in the 4th quarter. J. Stern & Co. LLP now owns 53,209,042 shares of the conglomerate’s stock valued at $10,380,552,000 after purchasing an additional 52,975,716 shares in the last quarter. SG Americas Securities LLC lifted its position in Honeywell International by 15,459.1% during the fourth quarter. SG Americas Securities LLC now owns 4,057,960 shares of the conglomerate’s stock valued at $791,667,000 after buying an additional 4,031,879 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in Honeywell International by 23,503.0% during the second quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock worth $865,506,000 after buying an additional 3,700,786 shares during the period. Franklin Resources Inc. increased its position 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 worth $2,146,372,000 after acquiring an additional 2,277,234 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in shares of Honeywell International by 921.0% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,042,000 shares of the conglomerate’s stock valued at $398,374,000 after acquiring an additional 1,842,000 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Price Performance

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.30. The firm has a market cap of $155.01 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 3.59 and a beta of 0.92. The company’s fifty day moving average is $223.09 and its two-hundred day moving average is $211.21.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Thursday, January 29th. The conglomerate reported $2.59 EPS for the quarter, beating the consensus estimate of $2.54 by $0.05. The company had revenue of $10.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Honeywell International had a return on equity of 40.64% and a net margin of 12.74%.The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $2.47 earnings per share. Equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $4.76 annualized dividend and a yield of 2.0%. Honeywell International’s dividend payout ratio (DPR) is 59.57%.

Honeywell International Company Profile

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.