Honeywell International (NYSE:HON) had its price objective lifted by Jefferies Group from $162.00 to $180.00 in a research note issued to investors on Thursday. They currently have a buy rating on the conglomerate’s stock. Jefferies Group also issued estimates for Honeywell International’s Q4 2017 earnings at $1.85 EPS, Q1 2018 earnings at $1.81 EPS, Q2 2018 earnings at $1.98 EPS, Q3 2018 earnings at $1.95 EPS, Q4 2018 earnings at $2.07 EPS, FY2018 earnings at $7.80 EPS and FY2019 earnings at $8.30 EPS.
Other research analysts also recently issued reports about the stock. Cowen reissued a buy rating and set a $150.00 price target on shares of Honeywell International in a research note on Tuesday, October 10th. Citigroup lifted their price target on shares of Honeywell International from $155.00 to $170.00 and gave the stock a buy rating in a research note on Monday, October 9th. Zacks Investment Research raised shares of Honeywell International from a hold rating to a buy rating and set a $155.00 price target on the stock in a research note on Thursday, August 17th. Royal Bank of Canada set a $148.00 target price on shares of Honeywell International and gave the stock a buy rating in a research note on Sunday, August 27th. Finally, Deutsche Bank reaffirmed a buy rating and issued a $154.00 target price on shares of Honeywell International in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $159.79.
Honeywell International (NYSE:HON) traded up $1.02 during mid-day trading on Thursday, hitting $154.25. 4,286,848 shares of the company’s stock traded hands, compared to its average volume of 2,727,897. The stock has a market capitalization of $117,911.05, a P/E ratio of 22.42, a PEG ratio of 2.39 and a beta of 0.99. Honeywell International has a 52-week low of $113.60 and a 52-week high of $156.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.09.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $0.745 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.98 annualized dividend and a yield of 1.93%. This is a boost from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s payout ratio is 45.15%.
Honeywell International announced that its board has authorized a stock repurchase plan on Friday, December 8th that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the conglomerate to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Krishna Mikkilineni sold 13,074 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the sale, the vice president now owns 104,998 shares in the company, valued at approximately $15,237,309.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bradley T. Sheares sold 1,328 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the sale, the director now owns 4,002 shares in the company, valued at approximately $585,932.82. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Honeywell International by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after purchasing an additional 1,234,672 shares in the last quarter. BlackRock Inc. boosted its stake in Honeywell International by 2.8% in the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after purchasing an additional 1,207,893 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Honeywell International by 1.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock worth $1,918,100,000 after purchasing an additional 207,142 shares in the last quarter. FMR LLC raised its position in Honeywell International by 9.3% in the 2nd quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after buying an additional 714,881 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Honeywell International by 9.1% in the 2nd quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after buying an additional 629,221 shares during the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.
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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