Honeywell International (NASDAQ:HON) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Honeywell International (NASDAQ:HON) from a buy rating to a hold rating in a report published on Saturday.

A number of other research analysts have also issued reports on the company. Daiwa America upgraded Honeywell International to a moderate buy rating in a report on Wednesday, June 5th. Royal Bank of Canada lowered 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, July 26th. Wells Fargo & Company reduced 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, July 26th. UBS Group raised shares of Honeywell International from a sell rating to a neutral rating and increased their price objective for the company from $175.00 to $215.00 in a research report on Monday, June 10th. Finally, Citigroup lifted their price objective on shares of Honeywell International from $243.00 to $244.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Honeywell International presently has an average rating of Hold and an average target price of $225.00.

Honeywell International Price Performance

HON stock opened at $198.80 on Friday. The company has a market capitalization of $129.46 billion, a PE ratio of 23.04, a P/E/G ratio of 2.32 and a beta of 1.04. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19. The business’s fifty day moving average price is $210.09 and its 200 day moving average price is $202.65. Honeywell International has a 12-month low of $174.88 and a 12-month high of $220.79.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The business had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter last year, the firm posted $2.23 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Honeywell International will post 10.14 EPS for the current year.

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.17%. Honeywell International’s dividend payout ratio (DPR) is presently 50.06%.

Insiders Place Their Bets

In related news, Director Darius Adamczyk sold 28,500 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 203,510 shares in the company, valued at approximately $41,507,899.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Honeywell International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Honeywell International by 22.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,587,718 shares of the conglomerate’s stock worth $1,967,880,000 after acquiring an additional 1,746,759 shares during the period. Northern Trust Corp increased its position in Honeywell International by 0.3% during the 4th quarter. Northern Trust Corp now owns 6,451,134 shares of the conglomerate’s stock worth $1,352,867,000 after purchasing an additional 17,591 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Honeywell International by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,621,544 shares of the conglomerate’s stock worth $759,474,000 after buying an additional 66,213 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Honeywell International by 6.7% in the 1st quarter. Capital Research Global Investors now owns 3,402,252 shares of the conglomerate’s stock valued at $698,312,000 after buying an additional 212,327 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Honeywell International by 8.1% in the first quarter. Janus Henderson Group PLC now owns 2,698,596 shares of the conglomerate’s stock valued at $553,880,000 after buying an additional 202,358 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

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.