Honeywell International Inc. (NYSE:HON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, August 30th.
According to Zacks, “Honeywell’s diversified business portfolio has the potential to earn consistent above-average returns and mitigate operating risks through a balanced organic and inorganic model. A diligent focus on working capital management, free cash flow generation and a conservative balance sheet remain key positives. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. The company also outperformed the industry year to date. However, adverse foreign currency translations, high R&D expenses to fend off competition and volatility in commodity prices are likely to peg back its growth momentum to some extent. In addition, Honeywell is yet to witness signs of stabilization in some of its major end markets and expects a tepid demand pattern for its business jets and mobile scanners in 2017.”
Other equities analysts also recently issued reports about the stock. Cowen and Company reissued a “buy” rating and set a $140.00 price target on shares of Honeywell International in a report on Monday, July 17th. BidaskClub downgraded shares of Honeywell International from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. HSBC Holdings plc began coverage on shares of Honeywell International in a research note on Wednesday, June 21st. They issued a “buy” rating and a $147.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Honeywell International in a research note on Friday, May 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $141.00 target price on shares of Honeywell International in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $141.24.
Shares of Honeywell International (NYSE:HON) opened at 138.95 on Wednesday. The firm has a 50-day moving average price of $137.53 and a 200-day moving average price of $132.16. Honeywell International has a one year low of $105.25 and a one year high of $140.21. The stock has a market cap of $105.68 billion, a price-to-earnings ratio of 21.55 and a beta of 0.94.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The firm had revenue of $10.08 billion during the quarter, compared to the consensus estimate of $9.89 billion. During the same period last year, the firm posted $1.70 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts anticipate that Honeywell International will post $7.09 earnings per share for the current fiscal year.
In related news, VP Jennifer H. Mak sold 420 shares of the stock in a transaction on Thursday, July 27th. The shares were 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 $186,267.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajeev Gautam sold 5,840 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $136.68, for a total transaction of $798,211.20. Following the sale, the insider now directly owns 16,597 shares in the company, valued at $2,268,477.96. The disclosure for this sale can be found here. Insiders have sold 354,108 shares of company stock valued at $48,886,463 in the last 90 days. 1.56% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. bought a new stake in Honeywell International during the second quarter worth $294,000. M Holdings Securities Inc. raised its position in Honeywell International by 17.8% during the second quarter. M Holdings Securities Inc. now owns 15,850 shares of the conglomerate’s stock worth $2,113,000 after acquiring an additional 2,394 shares in the last quarter. Griffin Asset Management Inc. bought a new stake in Honeywell International during the second quarter worth $8,004,000. Gs Investments Inc. bought a new stake in Honeywell International during the second quarter worth $1,811,000. Finally, Lord Abbett & CO. LLC raised its position in shares of Honeywell International by 51.5% in the second quarter. Lord Abbett & CO. LLC now owns 427,008 shares of the conglomerate’s stock valued at $56,916,000 after purchasing an additional 145,207 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.
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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