Royal Bank of Canada Lowers Honeywell International (HON) to Sector Perform

Honeywell International (NYSE:HON) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday, January 3rd, Marketbeat reports. They presently have a $158.00 target price on the conglomerate’s stock, down from their previous target price of $163.00. Royal Bank of Canada’s target price suggests a potential upside of 0.05% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also commented on the stock. Argus increased their price objective on shares of Honeywell International from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Jefferies Group raised their target price on shares of Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Oppenheimer increased their price target on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, December 14th. Stifel Nicolaus cut their price target on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Finally, Citigroup set a $180.00 price target on shares of Honeywell International and gave the company a “buy” rating in a research report on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $160.14.

Honeywell International (NYSE:HON) traded up $0.83 during trading hours on Wednesday, reaching $157.92. 2,329,400 shares of the company traded hands, compared to its average volume of 3,400,000. The firm has a market cap of $120,390.00, a PE ratio of 23.93, a P/E/G ratio of 2.37 and a beta of 0.99. Honeywell International has a 1 year low of $116.66 and a 1 year high of $158.00. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54.

Honeywell International (NYSE:HON) last posted its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.05 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. research analysts forecast that Honeywell International will post 7.1 EPS for the current fiscal year.

Honeywell International declared that its board has approved a share buyback program on Friday, December 8th that authorizes the company to buyback $6.50 billion in shares. This buyback authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In related news, VP Krishna Mikkilineni sold 13,074 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the transaction, the vice president now owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the transaction, the director now directly owns 4,002 shares of the company’s stock, valued at approximately $585,932.82. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.

Several large investors have recently added to or reduced their stakes in HON. Schulhoff & Co. Inc. boosted its holdings in Honeywell International by 1.8% in the second quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock valued at $1,524,000 after acquiring an additional 203 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Honeywell International by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock worth $29,184,000 after buying an additional 11,091 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Honeywell International by 331.4% during the 1st quarter. Edgestream Partners L.P. now owns 13,555 shares of the conglomerate’s stock worth $1,693,000 after buying an additional 10,413 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in shares of Honeywell International by 30.7% during the 2nd quarter. YHB Investment Advisors Inc. now owns 25,186 shares of the conglomerate’s stock worth $3,357,000 after buying an additional 5,913 shares in the last quarter. Finally, AGF Investments America Inc. boosted its holdings in shares of Honeywell International by 3.6% during the 2nd quarter. AGF Investments America Inc. now owns 47,702 shares of the conglomerate’s stock worth $6,358,000 after buying an additional 1,668 shares in the last quarter. Institutional investors own 76.30% of the company’s stock.

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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.

Analyst Recommendations for Honeywell International (NYSE:HON)

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