Honeywell International (NYSE:HON) had its price target upped by equities research analysts at Oppenheimer from $155.00 to $168.00 in a research note issued to investors on Thursday. The brokerage presently has an “outperform” rating on the conglomerate’s stock. Oppenheimer’s price target would suggest a potential upside of 7.83% from the stock’s previous close.
A number of other equities research analysts have also issued reports on HON. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Honeywell International in a report on Tuesday, October 10th. Vertical Research reaffirmed a “buy” rating on shares of Honeywell International in a report on Friday, October 20th. Citigroup increased their price objective on shares of Honeywell International from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 9th. Jefferies Group reaffirmed a “buy” rating and set a $155.00 price objective on shares of Honeywell International in a report on Tuesday, August 22nd. Finally, Royal Bank of Canada set a $148.00 price objective on shares of Honeywell International and gave the company a “buy” rating in a report on Sunday, August 27th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Honeywell International currently has an average rating of “Buy” and a consensus target price of $157.50.
Shares of Honeywell International (NYSE:HON) opened at $155.80 on Thursday. Honeywell International has a one year low of $113.60 and a one year high of $156.70. The company has a market cap of $116,323.64, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.99. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54.
Honeywell International declared that its board has authorized a share repurchase plan on Friday, December 8th that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the conglomerate to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
In related news, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the transaction, the vice president now directly owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the transaction, the director now directly owns 4,002 shares of the company’s stock, valued at $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 have recently bought and sold shares of the stock. AXA boosted its stake in Honeywell International by 8.4% during the third quarter. AXA now owns 950,701 shares of the conglomerate’s stock worth $134,752,000 after buying an additional 74,040 shares during the period. Wagner Bowman Management Corp boosted its stake in Honeywell International by 8.2% during the third quarter. Wagner Bowman Management Corp now owns 6,277 shares of the conglomerate’s stock worth $889,000 after buying an additional 475 shares during the period. Institutional & Family Asset Management LLC boosted its stake in Honeywell International by 8.1% during the third quarter. Institutional & Family Asset Management LLC now owns 5,401 shares of the conglomerate’s stock worth $766,000 after buying an additional 405 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Honeywell International during the third quarter worth $2,409,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Honeywell International by 8.9% during the third quarter. Public Employees Retirement System of Ohio now owns 589,729 shares of the conglomerate’s stock worth $83,588,000 after buying an additional 48,000 shares during the period. 76.04% of the stock is owned by hedge funds and other institutional investors.
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About Honeywell International
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.
