Honeywell International Inc. (NYSE:HON) Reaches New 1-Year High on Earnings Beat

Shares of Honeywell International Inc. (NYSE:HON) hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $136.58 and last traded at $136.61, with a volume of 2,184,918 shares trading hands. The stock had previously closed at $134.95.

The conglomerate reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The company had revenue of $10.08 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same quarter in the prior year, the business posted $1.70 EPS. Honeywell International’s quarterly revenue was up .9% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.66 annualized dividend and a dividend yield of 1.94%. Honeywell International’s dividend payout ratio (DPR) is 41.24%.

A number of research analysts recently issued reports on HON shares. HSBC Holdings plc started coverage on shares of Honeywell International in a research note on Wednesday, June 21st. They issued a “buy” rating and a $147.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Honeywell International from $136.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, June 28th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $148.00 price target on shares of Honeywell International in a research report on Tuesday, April 25th. Finally, Credit Suisse Group restated a “hold” rating and issued a $122.00 price target on shares of Honeywell International in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Honeywell International currently has an average rating of “Buy” and a consensus price target of $139.17.

In related news, Director Linnet F. Deily sold 4,344 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $138.47, for a total value of $601,513.68. Following the transaction, the director now directly owns 9,753 shares in the company, valued at $1,350,497.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley T. Sheares sold 3,430 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $131.71, for a total transaction of $451,765.30. Following the completion of the transaction, the director now owns 8,731 shares in the company, valued at $1,149,960.01. The disclosure for this sale can be found here. Insiders sold 473,229 shares of company stock worth $64,546,642 over the last 90 days. 1.56% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hanson McClain Inc. boosted its position in Honeywell International by 0.4% in the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after buying an additional 3 shares during the period. Addison Capital Co boosted its position in Honeywell International by 0.3% in the second quarter. Addison Capital Co now owns 2,643 shares of the conglomerate’s stock worth $352,000 after buying an additional 7 shares during the period. Weatherly Asset Management L. P. boosted its position in Honeywell International by 0.3% in the first quarter. Weatherly Asset Management L. P. now owns 2,496 shares of the conglomerate’s stock worth $312,000 after buying an additional 8 shares during the period. Keel Point LLC boosted its position in Honeywell International by 0.3% in the first quarter. Keel Point LLC now owns 3,487 shares of the conglomerate’s stock worth $435,000 after buying an additional 10 shares during the period. Finally, Hudock Capital Group LLC boosted its position in Honeywell International by 0.3% in the first quarter. Hudock Capital Group LLC now owns 4,027 shares of the conglomerate’s stock worth $502,000 after buying an additional 14 shares during the period. 76.49% of the stock is owned by hedge funds and other institutional investors.

The company has a 50-day moving average price of $136.15 and a 200-day moving average price of $129.87. The company has a market capitalization of $105.10 billion, a PE ratio of 21.43 and a beta of 0.94.

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Honeywell International Company Profile

Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.

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