Wells Fargo & Company Has Lowered Expectations for Honeywell International (NASDAQ:HON) Stock Price

Honeywell International (NASDAQ:HON) had its target price reduced by Wells Fargo & Company from $254.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.83% from the company’s previous close.

HON has been the topic of a number of other research reports. Robert W. Baird downgraded Honeywell International from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $223.00 to $217.00 in a research report on Friday, October 25th. Baird R W lowered shares of Honeywell International from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. HSBC raised Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research report on Wednesday, December 11th. Wolfe Research cut Honeywell International from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group upped their target price on Honeywell International from $227.00 to $256.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Honeywell International has a consensus rating of “Hold” and a consensus target price of $248.57.

Honeywell International Stock Performance

NASDAQ:HON traded up $0.83 during mid-day trading on Tuesday, hitting $222.57. 573,875 shares of the stock were exchanged, compared to its average volume of 2,257,962. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.12 and a current ratio of 1.44. The stock has a market capitalization of $144.73 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. The firm’s 50-day simple moving average is $225.32 and its 200 day simple moving average is $214.06. Honeywell International has a fifty-two week low of $189.66 and a fifty-two week high of $242.77.

Hedge Funds Weigh In On Honeywell International

Several institutional investors have recently bought and sold shares of the company. Absher Wealth Management LLC raised its stake in shares of Honeywell International by 2.5% in the third quarter. Absher Wealth Management LLC now owns 1,999 shares of the conglomerate’s stock valued at $413,000 after buying an additional 49 shares during the period. ZRC Wealth Management LLC raised its stake in Honeywell International by 11.6% in the 3rd quarter. ZRC Wealth Management LLC now owns 480 shares of the conglomerate’s stock valued at $99,000 after acquiring an additional 50 shares during the period. CFM Wealth Partners LLC lifted its holdings in Honeywell International by 4.0% during the third quarter. CFM Wealth Partners LLC now owns 1,288 shares of the conglomerate’s stock valued at $264,000 after purchasing an additional 50 shares during the last quarter. Jacobsen Capital Management boosted its position in Honeywell International by 5.2% during the third quarter. Jacobsen Capital Management now owns 1,010 shares of the conglomerate’s stock worth $209,000 after purchasing an additional 50 shares during the period. Finally, Mengis Capital Management Inc. increased its stake in shares of Honeywell International by 0.4% in the third quarter. Mengis Capital Management Inc. now owns 12,176 shares of the conglomerate’s stock worth $2,517,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors 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.