Honeywell International (NASDAQ:HON) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Honeywell International (NASDAQ:HON) issued its earnings results on Thursday. The conglomerate reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.07, Briefing.com reports. The company had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. Honeywell International’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 EPS. Honeywell International updated its FY24 guidance to $10.05-10.25 EPS.

Honeywell International Trading Up 0.1 %

Honeywell International stock traded up $0.29 during trading hours on Friday, hitting $202.74. The company had a trading volume of 7,452,531 shares, compared to its average volume of 2,405,457. The firm has a market cap of $132.02 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.11 and a beta of 1.04. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.28 and a current ratio of 1.21. Honeywell International has a 1 year low of $174.88 and a 1 year high of $220.79. The company has a 50-day moving average price of $209.95 and a two-hundred day moving average price of $202.53.

Honeywell International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be issued a $1.08 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 2.13%. Honeywell International’s dividend payout ratio is currently 50.06%.

Analysts Set New Price Targets

A number of research analysts have commented on HON shares. Barclays upped their price target on Honeywell International from $230.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price objective on Honeywell International from $218.00 to $214.00 and set a “sector perform” rating for the company in a research report on Friday. UBS Group upgraded Honeywell International from a “sell” rating to a “neutral” rating and increased their target price for the company from $175.00 to $215.00 in a research note on Monday, June 10th. Citigroup increased their price objective on shares of Honeywell International from $243.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company dropped their target price on shares of Honeywell International from $220.00 to $215.00 and set an “equal weight” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.50.

Insider Activity

In other news, CFO Gregory P. Lewis sold 25,209 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $193.06, for a total value of $4,866,849.54. Following the sale, the chief financial officer now directly owns 55,471 shares of the company’s stock, valued at approximately $10,709,231.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Darius Adamczyk sold 28,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $203.96, for a total value of $5,812,860.00. Following the transaction, the director now directly owns 203,510 shares of the company’s stock, valued at $41,507,899.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gregory P. Lewis sold 25,209 shares of Honeywell International stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $193.06, for a total transaction of $4,866,849.54. Following the transaction, the chief financial officer now directly owns 55,471 shares in the company, valued at $10,709,231.26. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Honeywell International Company Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company's Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.