Honeywell International (NASDAQ:HON) Downgraded by StockNews.com

StockNews.com downgraded shares of Honeywell International (NASDAQ:HON) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other analysts have also issued reports on HON. UBS Group raised Honeywell International from a sell rating to a neutral rating and lifted their price target for the stock from $175.00 to $215.00 in a research note on Monday, June 10th. Wells Fargo & Company dropped their target price on shares of Honeywell International from $220.00 to $215.00 and set an equal weight rating for the company in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $215.00 target price (down from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. Royal Bank of Canada lowered their price target on shares of Honeywell International from $218.00 to $214.00 and set a sector perform rating on the stock in a research report on Friday, July 26th. Finally, 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 report on Tuesday, June 4th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Honeywell International has a consensus rating of Hold and a consensus price target of $225.00.

Honeywell International Price Performance

Honeywell International stock opened at $198.80 on Friday. The stock has a market capitalization of $129.46 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.32 and a beta of 1.04. The company’s fifty day moving average price is $210.00 and its 200 day moving average price is $202.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 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.

Honeywell International (NASDAQ:HON) last announced its 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. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.23 earnings per share. As a group, equities research analysts anticipate that Honeywell International will post 10.14 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.08 per share. The ex-dividend date 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 is currently 50.06%.

Insider Activity

In related news, Director Darius Adamczyk sold 28,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $203.96, for a total value of $5,812,860.00. Following the completion of the transaction, the director now directly owns 203,510 shares in the company, valued at $41,507,899.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Honeywell International

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in 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 buying an additional 1,746,759 shares during the period. Northern Trust Corp increased its holdings in Honeywell International by 0.3% in the 4th quarter. Northern Trust Corp now owns 6,451,134 shares of the conglomerate’s stock valued at $1,352,867,000 after purchasing an additional 17,591 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Honeywell International by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,621,544 shares of the conglomerate’s stock valued at $759,474,000 after purchasing an additional 66,213 shares during the period. Capital Research Global Investors lifted its stake in Honeywell International by 6.7% during the first quarter. Capital Research Global Investors now owns 3,402,252 shares of the conglomerate’s stock worth $698,312,000 after purchasing an additional 212,327 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Honeywell International by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,950,562 shares of the conglomerate’s stock worth $630,086,000 after buying an additional 325,272 shares during the period. Institutional investors and hedge funds own 75.91% of the company’s stock.

About Honeywell International

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.