Honeywell International (NASDAQ:HON) Rating Lowered to Hold at StockNews.com

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

Several other research firms have also commented on HON. Wells Fargo & Company cut 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 research note on Friday, July 26th. Royal Bank of Canada reduced their price objective on Honeywell International from $218.00 to $214.00 and set a sector perform rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $215.00 target price (down from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. 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. Finally, Daiwa America raised shares of Honeywell International to a moderate buy rating in a research note on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $225.00.

Honeywell International Stock Performance

HON opened at $198.80 on Friday. Honeywell International has a 1-year low of $174.88 and a 1-year high of $220.79. The company has a market capitalization of $129.46 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.32 and a beta of 1.04. The business has a 50 day moving average price of $210.00 and a two-hundred day moving average price of $202.58. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.07. The business had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.23 earnings per share. Research analysts predict that Honeywell International will post 10.14 EPS for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 16th will be issued a $1.08 dividend. The ex-dividend date of this dividend 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 50.06%.

Insider Buying and Selling

In other Honeywell International news, Director Darius Adamczyk sold 28,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $203.96, for a total value of $5,812,860.00. Following the transaction, the director now owns 203,510 shares in the company, valued at approximately $41,507,899.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honeywell International

A number of hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in Honeywell International by 32.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,840,959 shares of the conglomerate’s stock valued at $1,644,328,000 after acquiring an additional 1,899,373 shares during the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of Honeywell International in the 2nd quarter valued at $392,478,000. Natixis boosted its holdings in Honeywell International by 184.8% in the first quarter. Natixis now owns 838,716 shares of the conglomerate’s stock worth $172,146,000 after purchasing an additional 544,175 shares in the last quarter. Capital Research Global Investors increased its position in Honeywell International by 20.4% during the fourth quarter. Capital Research Global Investors now owns 3,189,925 shares of the conglomerate’s stock worth $668,959,000 after buying an additional 539,644 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Honeywell International by 27.5% during the fourth quarter. California Public Employees Retirement System now owns 1,739,695 shares of the conglomerate’s stock worth $364,831,000 after buying an additional 375,158 shares during the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

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.