Bank of America Reiterates “Neutral” Rating for Honeywell International (NASDAQ:HON)

by · The Cerbat Gem

Honeywell International (NASDAQ:HON – Get Free Report)‘s stock had its “neutral” rating reiterated by equities researchers at Bank of America in a note issued to investors on Thursday, StockNewsAPI reports. They presently have a $230.00 target price on the conglomerate’s stock, down from their previous target price of $250.00. Bank of America‘s price objective suggests a potential upside of 8.62% from the stock’s previous close.

Several other research firms have also weighed in on HON. Wells Fargo & Company lowered their price objective on Honeywell International from $215.00 to $207.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. downgraded Honeywell International from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $225.00 to $235.00 in a report on Thursday, October 10th. Morgan Stanley initiated coverage on Honeywell International in a report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 target price on the stock. StockNews.com downgraded Honeywell International from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $214.00 price objective on shares of Honeywell International in a report on Thursday, September 26th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Honeywell International currently has a consensus rating of “Hold” and a consensus price target of $224.20.

Read Our Latest Analysis on HON

Honeywell International Stock Performance

Shares of Honeywell International stock traded down $8.60 during trading on Thursday, reaching $211.74. The company’s stock had a trading volume of 2,423,431 shares, compared to its average volume of 2,862,914. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 and a current ratio of 1.21. The business’s fifty day moving average price is $206.99 and its 200-day moving average price is $205.30. The firm has a market cap of $137.88 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03. Honeywell International has a one year low of $174.88 and a one year high of $222.98.

Honeywell International (NASDAQ:HON – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the company posted $2.23 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Honeywell International will post 10.1 earnings per share for the current year.

Hedge Funds Weigh In On Honeywell International

A number of large investors have recently added to or reduced their stakes in the company. Benedict Financial Advisors Inc. increased its holdings in Honeywell International by 1.4% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 26,298 shares of the conglomerate’s stock worth $5,436,000 after purchasing an additional 355 shares in the last quarter. PFG Investments LLC increased its holdings in Honeywell International by 6.2% during the 3rd quarter. PFG Investments LLC now owns 10,827 shares of the conglomerate’s stock worth $2,238,000 after purchasing an additional 636 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Honeywell International by 4.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 161,042 shares of the conglomerate’s stock worth $33,289,000 after purchasing an additional 7,033 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Honeywell International by 12.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 199,562 shares of the conglomerate’s stock worth $40,257,000 after purchasing an additional 22,146 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in Honeywell International during the 3rd quarter worth about $381,000. Institutional investors own 75.91% of the company’s stock.

About Honeywell International

(Get Free Report)

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.

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