Honeywell International (NASDAQ:HON) Hits New 52-Week High After Analyst Upgrade

Honeywell International Inc. (NASDAQ:HON)’s share price reached a new 52-week high 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 changing hands. The stock had previously closed at $243.59.

Several other equities analysts also recently weighed in on HON. HSBC reduced their target price on shares of Honeywell International from $290.00 to $266.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Citigroup increased their target price on Honeywell International from $262.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Vertical Research lowered Honeywell International from a “buy” rating to a “hold” rating and set a $220.00 price target for the company. in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Honeywell International in a research note on Monday, December 29th. Finally, Wells Fargo & Company increased their price objective on Honeywell International from $215.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.48.

Insider Activity

In related news, VP Robert D. Mailloux sold 5,274 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $239.00, for a total value of $1,260,486.00. Following the sale, the vice president directly owned 4,803 shares of the company’s stock, valued at $1,147,917. This trade represents a 52.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director D Scott Davis sold 2,367 shares of Honeywell International stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $240.00, for a total transaction of $568,080.00. Following the sale, the director owned 31,081 shares of the company’s stock, valued at approximately $7,459,440. The trade was a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,190 shares of company stock worth $4,244,287. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitlin John LLC increased its position in shares of Honeywell International by 138.9% during the 4th quarter. Caitlin John LLC now owns 129 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Holos Integrated Wealth LLC bought a new position in Honeywell International during the fourth quarter valued at approximately $25,000. Ares Financial Consulting LLC purchased a new position in shares of Honeywell International during the fourth quarter worth approximately $26,000. Howard Hughes Medical Institute bought a new stake in shares of Honeywell International in the 2nd quarter worth approximately $33,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Honeywell International by 491.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 118 shares in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Stock Performance

The company has a market cap of $155.81 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 3.53 and a beta of 0.92. The company’s fifty day moving average is $221.08 and its 200 day moving average is $210.81. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.05. The business had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Honeywell International had a net margin of 12.74% and a return on equity of 40.64%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 earnings per share. As a group, equities analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 27th. Honeywell International’s dividend payout ratio 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.