Honeywell International (NYSE:HON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Honeywell’s diversified business portfolio aims to earn consistent above-average returns and mitigate operating risks. The company’s diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positive attributes amid a challenging macroeconomic environment. The company invests in innovative technologies which will help it maintain its leadership position. The stock has outperformed the industry in the last six months. However, adverse foreign currency translations, high R&D expenses and volatility in commodity prices are likely to hurt its growth momentum. A change in the U.S. government’s defense and aerospace funding could adversely impact sales of Aerospace’s defense and space-related products and services. Honeywell is highly dependent on its supply chain to scale production and adjust delivery of long-lead time products during times of volatile demand. “
Several other research firms also recently commented on HON. ValuEngine raised shares of Honeywell International from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. TheStreet downgraded shares of Honeywell International from an “a+” rating to a “c+” rating in a research report on Friday, January 26th. UBS assumed coverage on shares of Honeywell International in a research report on Monday, January 22nd. They set a “buy” rating for the company. Cowen reissued a “buy” rating and set a $168.00 target price on shares of Honeywell International in a research report on Monday, January 22nd. Finally, Royal Bank of Canada upped their price objective on shares of Honeywell International to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $166.73.
Honeywell International (HON) traded up $0.77 during mid-day trading on Tuesday, reaching $150.97. 610,431 shares of the company traded hands, compared to its average volume of 3,311,533. The firm has a market capitalization of $114,138.86, a price-to-earnings ratio of 72.58, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Honeywell International has a 1-year low of $122.40 and a 1-year high of $165.13.
Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, January 26th. The conglomerate reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.01. Honeywell International had a net margin of 4.08% and a return on equity of 27.27%. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. equities analysts anticipate that Honeywell International will post 7.97 earnings per share for the current year.
Honeywell International declared that its board has authorized a share buyback plan on Friday, December 8th that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Jaime Chico /Fa Pardo sold 2,868 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.36, for a total transaction of $448,440.48. Following the transaction, the director now owns 41,092 shares of the company’s stock, valued at approximately $6,425,145.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,886 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $147.71, for a total transaction of $426,291.06. Following the transaction, the director now directly owns 9,105 shares in the company, valued at approximately $1,344,899.55. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Rowland & Co. Investment Counsel ADV lifted its position in shares of Honeywell International by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,735 shares of the conglomerate’s stock worth $499,000 after purchasing an additional 14 shares during the period. Jacobi Capital Management LLC lifted its position in Honeywell International by 0.6% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,800 shares of the conglomerate’s stock valued at $377,000 after acquiring an additional 16 shares during the period. GM Advisory Group Inc. lifted its position in Honeywell International by 1.4% during the 2nd quarter. GM Advisory Group Inc. now owns 2,187 shares of the conglomerate’s stock valued at $292,000 after acquiring an additional 31 shares during the period. Meridian Investment Counsel Inc. lifted its position in Honeywell International by 0.4% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 7,972 shares of the conglomerate’s stock valued at $1,063,000 after acquiring an additional 31 shares during the period. Finally, Risk Paradigm Group LLC lifted its position in Honeywell International by 2.7% during the 2nd quarter. Risk Paradigm Group LLC now owns 1,653 shares of the conglomerate’s stock valued at $220,000 after acquiring an additional 44 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.
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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.
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