Honeywell International (NASDAQ:HON) Stock Rating Lowered by Robert W. Baird

Honeywell International (NASDAQ:HON) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Friday, Marketbeat reports. They currently have a $217.00 price target on the conglomerate’s stock, down from their previous price target of $223.00. Robert W. Baird’s target price points to a potential upside of 4.33% from the company’s previous close.

Several other research analysts also recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $214.00 target price on shares of Honeywell International in a research note on Thursday, September 26th. Wells Fargo & Company decreased their price target on shares of Honeywell International from $215.00 to $207.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Morgan Stanley initiated coverage on shares of Honeywell International in a research note on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price objective for the company. JPMorgan Chase & Co. cut shares of Honeywell International from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $225.00 to $235.00 in a research note on Thursday, October 10th. Finally, StockNews.com cut Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $223.73.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $208.00 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19. The company has a market cap of $135.45 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03. The company has a 50 day moving average of $207.39 and a 200-day moving average of $205.44. Honeywell International has a 1-year low of $174.88 and a 1-year high of $222.98.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.08. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm had revenue of $9.73 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts forecast that Honeywell International will post 10.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Honeywell International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Wealth Group LLC raised its stake in Honeywell International by 2.8% during the third quarter. Cornerstone Wealth Group LLC now owns 23,495 shares of the conglomerate’s stock worth $4,857,000 after buying an additional 644 shares during the last quarter. Oak Harvest Investment Services grew its holdings in Honeywell International by 29.5% during the 3rd quarter. Oak Harvest Investment Services now owns 45,198 shares of the conglomerate’s stock worth $9,343,000 after acquiring an additional 10,300 shares during the period. JFS Wealth Advisors LLC grew its holdings in Honeywell International by 40.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 9,533 shares of the conglomerate’s stock worth $1,971,000 after acquiring an additional 2,753 shares during the period. SteelPeak Wealth LLC raised its position in shares of Honeywell International by 255.2% in the 3rd quarter. SteelPeak Wealth LLC now owns 73,529 shares of the conglomerate’s stock worth $15,199,000 after acquiring an additional 52,830 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its position in shares of Honeywell International by 1.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 11,817 shares of the conglomerate’s stock valued at $2,604,000 after purchasing an additional 187 shares in the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Company Profile

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.