Jefferies Group LLC Reiterates Buy Rating for Honeywell International Inc. (HON)
Honeywell International Inc. (NYSE:HON)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $155.00 target price on the conglomerate’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 9.36% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. Morgan Stanley upped their target price on Honeywell International from $145.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. BidaskClub raised Honeywell International from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Zacks Investment Research lowered Honeywell International from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Deutsche Bank AG reissued a “buy” rating and issued a $154.00 price target on shares of Honeywell International in a research report on Thursday, September 21st. Finally, Cowen and Company reissued an “outperform” rating and issued a $150.00 price target (up from $140.00) on shares of Honeywell International in a research report on Tuesday, August 8th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $142.22.
Shares of Honeywell International (HON) traded up 0.83% on Thursday, hitting $141.74. 3,673,617 shares of the stock traded hands. The stock has a market cap of $107.80 billion, a PE ratio of 21.98 and a beta of 0.94. Honeywell International has a 1-year low of $105.25 and a 1-year high of $142.06. The stock has a 50 day moving average of $137.60 and a 200-day moving average of $132.42.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. The firm had revenue of $10.08 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 EPS. On average, equities research analysts expect that Honeywell International will post $7.09 EPS for the current year.
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In other news, VP Jennifer H. Mak sold 420 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $136.66, for a total transaction of $57,397.20. Following the completion of the transaction, the vice president now owns 1,363 shares in the company, valued at approximately $186,267.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajeev Gautam sold 5,840 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $136.68, for a total value of $798,211.20. Following the transaction, the insider now owns 16,597 shares of the company’s stock, valued at approximately $2,268,477.96. The disclosure for this sale can be found here. Insiders have sold a total of 354,108 shares of company stock valued at $48,886,463 in the last quarter. 1.56% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Honeywell International by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after acquiring an additional 1,234,672 shares during the period. BlackRock Inc. grew its stake in shares of Honeywell International by 2.8% during the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after acquiring an additional 1,207,893 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Honeywell International by 38.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock worth $1,776,394,000 after acquiring an additional 3,728,533 shares during the period. FMR LLC grew its stake in shares of Honeywell International by 9.3% during the 2nd quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after acquiring an additional 714,881 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Honeywell International by 9.1% during the 2nd quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after acquiring an additional 629,221 shares during the period. Institutional investors own 75.77% of the company’s stock.
Honeywell International Company Profile
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.
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