Honeywell International (NASDAQ:HON) Shares Gap Up Following Earnings Beat

Honeywell International Inc. (NASDAQ:HON)’s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $200.66, but opened at $207.45. Honeywell International shares last traded at $209.13, with a volume of 640,462 shares traded.

The conglomerate reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.30. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. During the same quarter in the prior year, the business posted $2.25 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year.

Honeywell International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.14%. Honeywell International’s dividend payout ratio is currently 51.89%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HON. JPMorgan Chase & Co. dropped their price objective on shares of Honeywell International from $205.00 to $178.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley upped their price target on Honeywell International from $210.00 to $217.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company dropped their target price on shares of Honeywell International from $240.00 to $220.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Citigroup lowered their price objective on shares of Honeywell International from $253.00 to $229.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Barclays cut their price target on shares of Honeywell International from $251.00 to $247.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Honeywell International presently has an average rating of “Hold” and an average target price of $242.15.

Insider Transactions at Honeywell International

In related news, VP Anne T. Madden sold 28,885 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $207.89, for a total value of $6,004,902.65. Following the completion of the transaction, the vice president now owns 41,580 shares in the company, valued at $8,644,066.20. This trade represents a 40.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Honeywell International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Howard Capital Management Group LLC grew its stake in shares of Honeywell International by 6.7% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,760 shares of the conglomerate’s stock valued at $571,000 after buying an additional 174 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Honeywell International by 15.4% during the third quarter. Westside Investment Management Inc. now owns 375 shares of the conglomerate’s stock valued at $78,000 after acquiring an additional 50 shares in the last quarter. Tudor Financial Inc. acquired a new stake in Honeywell International in the 3rd quarter valued at $425,000. Anchor Investment Management LLC lifted its stake in shares of Honeywell International by 46.4% in the third quarter. Anchor Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $199,000 after buying an additional 305 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of Honeywell International by 1.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 19,689 shares of the conglomerate’s stock worth $4,070,000 after purchasing an additional 376 shares during the last quarter. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Stock Performance

The company has a market cap of $135.56 billion, a PE ratio of 24.09, a PEG ratio of 2.51 and a beta of 1.01. The company has a 50-day moving average of $205.03 and a 200-day moving average of $215.73. The company has a quick ratio of 1.01, a current ratio of 1.31 and a debt-to-equity ratio of 1.33.

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.