Honeywell (HON) Rating Increased to Buy at Zacks Investment Research

Honeywell (NYSE:HON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $169.00 target price on the conglomerate’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.26% from the company’s current price.

According to Zacks, “Honeywell’s first-quarter 2018 earnings trumped the Zacks Consensus Estimate and rose 17.5% year over year. The impressive performance can primarily be attributed to solid performances from each of the four segments of the company. Also, the company’s diligent focus on working capital management, free cash flow generation and a conservative balance sheet are encouraging amid a challenging macroeconomic environment. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. Also, the company’s balanced mix of long- and short-cycle businesses along with a decent organic growth in new products and expansion in high-growth regions auger well on a long-term perspective. In a year’s time, the company’s stock has outperformed the industry. However, the company is susceptible to material price inflation, which might hurt its profitability.”

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HON has been the subject of several other reports. Stifel Nicolaus increased their price objective on Honeywell from $157.00 to $175.00 and gave the company a “buy” rating in a research report on Monday. Barclays increased their price objective on Honeywell from $170.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird reissued a “buy” rating and issued a $187.00 price objective on shares of Honeywell in a research report on Friday, January 26th. Cowen reissued a “buy” rating and issued a $168.00 price objective on shares of Honeywell in a research report on Monday, January 22nd. Finally, Royal Bank of Canada cut Honeywell from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $163.00 to $158.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Honeywell has an average rating of “Buy” and an average target price of $167.47.



Shares of HON traded up $0.59 during mid-day trading on Tuesday, hitting $149.21. The company’s stock had a trading volume of 548,381 shares, compared to its average volume of 3,197,960. Honeywell has a one year low of $128.69 and a one year high of $165.13. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $113,228.94, a price-to-earnings ratio of 21.05, a P/E/G ratio of 2.06 and a beta of 0.97.

Honeywell (NYSE:HON) last posted its quarterly earnings data on Friday, April 20th. The conglomerate reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. Honeywell had a return on equity of 29.25% and a net margin of 4.26%. The company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $10.03 billion. During the same period in the prior year, the business earned $1.71 earnings per share. Honeywell’s revenue for the quarter was up 9.5% compared to the same quarter last year. equities analysts predict that Honeywell will post 7.97 EPS for the current year.

In related news, Director Jaime Chico /Fa Pardo sold 2,868 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $156.36, for a total value of $448,440.48. Following the completion of the transaction, the director now directly owns 41,092 shares of the company’s stock, valued at $6,425,145.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Linnet F. Deily sold 2,886 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $147.71, for a total value of $426,291.06. Following the completion of the transaction, the director now directly owns 9,105 shares of the company’s stock, valued at $1,344,899.55. The disclosure for this sale can be found here. 1.33% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HON. Janus Henderson Group PLC lifted its holdings in shares of Honeywell by 4,986.7% during the second quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock valued at $585,822,000 after acquiring an additional 4,308,688 shares during the period. BlackRock Inc. lifted its holdings in shares of Honeywell by 5.8% during the fourth quarter. BlackRock Inc. now owns 47,575,018 shares of the conglomerate’s stock valued at $7,296,103,000 after acquiring an additional 2,627,000 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Honeywell by 69.6% during the fourth quarter. APG Asset Management N.V. now owns 3,347,506 shares of the conglomerate’s stock valued at $427,526,000 after acquiring an additional 1,373,600 shares during the period. Stifel Financial Corp lifted its holdings in shares of Honeywell by 3,381.1% during the third quarter. Stifel Financial Corp now owns 924,574 shares of the conglomerate’s stock valued at $131,031,000 after acquiring an additional 898,014 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Honeywell by 110.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,530,951 shares of the conglomerate’s stock valued at $234,785,000 after acquiring an additional 802,574 shares during the period. 75.17% of the stock is owned by institutional investors.

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Honeywell Company Profile

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

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