Honeywell International (HON) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Honeywell International (NYSE:HON) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other equities analysts also recently commented on the company. Morgan Stanley started coverage on Honeywell International in a research report on Monday, August 20th. They set an overweight rating and a $175.00 price objective for the company. Barclays boosted their price objective on Honeywell International from $176.00 to $178.00 and gave the stock an overweight rating in a research report on Friday, August 24th. Zacks Investment Research raised Honeywell International from a hold rating to a buy rating and set a $176.00 price objective for the company in a research report on Tuesday, July 31st. Cowen reissued a buy rating and set a $168.00 price objective on shares of Honeywell International in a research report on Friday, August 24th. Finally, Citigroup boosted their price objective on Honeywell International from $191.00 to $196.00 and gave the stock a $153.70 rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $172.94.

NYSE HON opened at $165.11 on Thursday. The stock has a market capitalization of $121.71 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.90 and a beta of 1.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.38 and a quick ratio of 1.11. Honeywell International has a 1-year low of $137.18 and a 1-year high of $166.01.

Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, July 20th. The conglomerate reported $2.12 EPS for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.11. Honeywell International had a return on equity of 31.46% and a net margin of 3.88%. The business had revenue of $10.92 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the previous year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. sell-side analysts forecast that Honeywell International will post 8.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 17th were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, August 16th. Honeywell International’s payout ratio is 41.91%.

In related news, insider Vimal Kapur sold 9,996 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $159.25, for a total transaction of $1,591,863.00. Following the completion of the sale, the insider now owns 16,131 shares in the company, valued at $2,568,861.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linnet F. Deily sold 3,066 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $158.12, for a total value of $484,795.92. Following the sale, the director now owns 11,787 shares of the company’s stock, valued at approximately $1,863,760.44. The disclosure for this sale can be found here. 1.33% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. CX Institutional purchased a new stake in Honeywell International in the second quarter valued at approximately $100,000. Well Done LLC purchased a new stake in Honeywell International in the first quarter valued at approximately $103,000. Jolley Asset Management LLC purchased a new stake in shares of Honeywell International during the second quarter worth approximately $104,000. Bruderman Asset Management LLC purchased a new stake in shares of Honeywell International during the first quarter worth approximately $114,000. Finally, Fort L.P. purchased a new stake in shares of Honeywell International during the second quarter worth approximately $118,000. Institutional investors own 74.64% of the company’s stock.

Honeywell International Company Profile

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Honeywell International (NYSE:HON)

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