Honeywell International (NASDAQ:HON) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Honeywell International Inc. (NASDAQ:HON) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $224.73 and traded as high as $232.58. Honeywell International shares last traded at $228.47, with a volume of 3,696,477 shares.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HON. Mizuho decreased their price target on shares of Honeywell International from $265.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Bank of America raised Honeywell International from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $205.00 to $265.00 in a research report on Tuesday, July 28th. JPMorgan Chase & Co. increased their target price on Honeywell International from $240.00 to $241.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Wells Fargo & Company started coverage on Honeywell International in a research report on Friday, September 25th. They set an “equal weight” rating and a $231.00 price objective for the company. Finally, BMO Capital Markets reissued an “outperform” rating and set a $261.00 price target on shares of Honeywell International in a report on Friday, October 23rd. Thirteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Honeywell International presently has an average rating of “Hold” and an average price target of $249.96.

Honeywell International Stock Up 2.0%

The business’s 50 day simple moving average is $212.13 and its 200-day simple moving average is $224.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 0.96. The company has a market cap of $69.84 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Thursday, October 22nd. The conglomerate reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.10. Honeywell International had a return on equity of 25.62% and a net margin of 24.36%. The company had revenue of $4.99 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business earned $2.82 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts expect that Honeywell International Inc. will post 8.44 earnings per share for the current year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.80 dividend on an annualized basis and a yield of 1.3%. Honeywell International’s dividend payout ratio (DPR) is 32.12%.

Insiders Place Their Bets

In other Honeywell International news, CEO Vimal Kapur sold 6,459 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $220.99, for a total value of $1,427,374.41. Following the completion of the sale, the chief executive officer directly owned 4,437 shares of the company’s stock, valued at $980,532.63. This represents a 59.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Su Lu sold 2,943 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $221.18, for a total transaction of $650,932.74. Following the completion of the sale, the vice president owned 6,631 shares of the company’s stock, valued at approximately $1,466,644.58. The trade was a 30.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Honeywell International

A number of institutional investors have recently added to or reduced their stakes in HON. Bank of America Corp DE raised its holdings in shares of Honeywell International by 0.3% during the first quarter. Bank of America Corp DE now owns 9,124,527 shares of the conglomerate’s stock worth $2,062,417,000 after acquiring an additional 31,551 shares during the period. Dimensional Fund Advisors LP raised its holdings in Honeywell International by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,386,458 shares of the conglomerate’s stock worth $765,391,000 after acquiring an additional 75,036 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Honeywell International during the 2nd quarter worth approximately $732,869,000. Swiss National Bank lifted its stake in Honeywell International by 7.1% in the first quarter. Swiss National Bank now owns 1,863,300 shares of the conglomerate’s stock valued at $421,162,000 after acquiring an additional 123,500 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Honeywell International by 0.3% in the 1st quarter. Hsbc Holdings PLC now owns 1,482,770 shares of the conglomerate’s stock valued at $334,769,000 after purchasing an additional 4,113 shares during the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

About Honeywell International

Honeywell International is a technology and manufacturing company whose products and services support aerospace, buildings, industrial operations and energy applications. Its offerings include aircraft systems and components, building controls and safety technologies, industrial automation and process-control systems, and specialty materials.

The company serves commercial and government customers in markets around the world. Its technologies are used in settings ranging from aircraft and commercial buildings to factories, warehouses and energy facilities.

Honeywell traces its roots to the Minneapolis Heat Regulator Company, founded in 1906.