Morgan Stanley Raises Honeywell International Inc. (HON) Price Target to $149.00
Honeywell International Inc. (NYSE:HON) had its price objective boosted by Morgan Stanley from $145.00 to $149.00 in a research note issued to investors on Friday. Morgan Stanley currently has an overweight rating on the conglomerate’s stock.
Several other brokerages have also commented on HON. Deutsche Bank AG reissued a buy rating and set a $154.00 price objective on shares of Honeywell International in a research report on Thursday. Zacks Investment Research raised Honeywell International from a hold rating to a buy rating and set a $154.00 price objective for the company in a research report on Thursday. Royal Bank Of Canada set a $148.00 price objective on Honeywell International and gave the company a buy rating in a research report on Sunday, August 27th. Jefferies Group LLC reissued a buy rating and set a $155.00 price objective on shares of Honeywell International in a research report on Tuesday, August 22nd. Finally, Cowen and Company reissued an outperform rating and set a $150.00 price objective (up previously from $140.00) on shares of Honeywell International in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $142.22.
Shares of Honeywell International (HON) opened at 141.75 on Friday. The company’s 50-day moving average is $137.60 and its 200 day moving average is $132.42. The firm has a market capitalization of $107.81 billion, a P/E ratio of 21.98 and a beta of 0.94. Honeywell International has a 52-week low of $105.25 and a 52-week high of $142.06.
Honeywell International (NYSE:HON) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.02. The firm had revenue of $10.08 billion during the quarter, compared to analyst estimates of $9.89 billion. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Analysts expect that Honeywell International will post $7.09 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.66 annualized dividend and a yield of 1.88%. Honeywell International’s payout ratio is 41.24%.
In related news, VP Jennifer H. Mak sold 420 shares of Honeywell International stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $136.66, for a total value of $57,397.20. Following the completion of the sale, the vice president now directly 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 is available through this link. Also, insider Timothy O. Mahoney sold 341,701 shares of Honeywell International stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total value of $47,182,074.08. Following the completion of the sale, the insider now owns 294,155 shares of the company’s stock, valued at $40,616,922.40. The disclosure for this sale can be found here. Insiders sold a total of 354,108 shares of company stock valued at $48,886,463 over the last quarter. 1.56% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hanson McClain Inc. increased its holdings in Honeywell International by 0.4% in the 1st quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after buying an additional 3 shares in the last quarter. Burt Wealth Advisors increased its holdings in Honeywell International by 65.4% in the 2nd quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock worth $101,000 after buying an additional 300 shares in the last quarter. Guidant Wealth Advisors increased its holdings in Honeywell International by 15.8% in the 2nd quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after buying an additional 104 shares in the last quarter. Mosaic Family Wealth LLC increased its holdings in Honeywell International by 11.4% in the 2nd quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock worth $102,000 after buying an additional 78 shares in the last quarter. Finally, Jolley Asset Management LLC increased its holdings in Honeywell International by 6.9% in the 2nd quarter. Jolley Asset Management LLC now owns 775 shares of the conglomerate’s stock worth $103,000 after buying an additional 50 shares in the last quarter. 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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