Honeywell International (NYSE:HON)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a report released on Friday, February 16th. They currently have a $165.00 price objective on the conglomerate’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.69% from the company’s previous close.
A number of other research analysts also recently weighed in on HON. Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Honeywell International in a research report on Thursday, October 19th. Vertical Research reissued a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Royal Bank of Canada lifted their target price on shares of Honeywell International from $148.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Credit Suisse Group reaffirmed a “neutral” rating and set a $150.00 target price (up previously from $141.00) on shares of Honeywell International in a report on Monday, October 23rd. Finally, Deutsche Bank reiterated a “buy” rating and issued a $171.00 price objective on shares of Honeywell International in a research note on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $165.67.
Shares of Honeywell International (HON) traded down $1.08 during mid-day trading on Friday, reaching $150.42. 2,030,000 shares of the company’s stock were exchanged, compared to its average volume of 3,440,000. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $112,570.00, a PE ratio of 35.14, a PEG ratio of 2.15 and a beta of 0.97. Honeywell International has a 1 year low of $122.40 and a 1 year high of $165.13.
Honeywell International declared that its board has authorized a stock buyback program on Friday, December 8th that allows the company to buyback $6.50 billion in outstanding shares. This buyback authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other Honeywell International news, Director Jaime Chico /Fa Pardo sold 2,868 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.36, for a total transaction of $448,440.48. Following the transaction, the director now owns 41,092 shares in the company, valued at $6,425,145.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linnet F. Deily sold 2,886 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $147.71, for a total transaction of $426,291.06. Following the completion of the sale, the director now owns 9,105 shares of the company’s stock, valued at approximately $1,344,899.55. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Schulhoff & Co. Inc. boosted its position in Honeywell International by 1.8% during the second quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock worth $1,524,000 after purchasing an additional 203 shares during the period. AGF Investments America Inc. boosted its position in Honeywell International by 3.6% during the second quarter. AGF Investments America Inc. now owns 47,702 shares of the conglomerate’s stock worth $6,358,000 after purchasing an additional 1,668 shares during the period. BlackRock Inc. boosted its position in Honeywell International by 2.8% during the second 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 during the period. Rothschild Asset Management Inc. boosted its position in Honeywell International by 2,358.6% during the third quarter. Rothschild Asset Management Inc. now owns 339,460 shares of the conglomerate’s stock worth $48,115,000 after purchasing an additional 325,653 shares during the period. Finally, Prudential Financial Inc. boosted its position in Honeywell International by 22.6% during the third quarter. Prudential Financial Inc. now owns 2,267,295 shares of the conglomerate’s stock worth $321,367,000 after purchasing an additional 417,770 shares during the period. Institutional investors own 77.98% of the company’s stock.
About Honeywell International
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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