Argus Raises Honeywell International (NYSE:HON) Price Target to $170.00

Honeywell International (NYSE:HON) had its price objective hoisted by Argus from $160.00 to $170.00 in a research report released on Friday, December 22nd. Argus currently has a buy rating on the conglomerate’s stock.

Several other research firms have also recently commented on HON. Citigroup set a $180.00 target price on shares of Honeywell International and gave the company a buy rating in a research note on Thursday, December 14th. Stifel Nicolaus lowered their price objective on shares of Honeywell International from $171.00 to $169.00 and set a buy rating on the stock in a research note on Thursday, December 14th. Oppenheimer lifted their price objective on shares of Honeywell International from $155.00 to $168.00 and gave the stock an outperform rating in a research note on Thursday, December 14th. Jefferies Group lifted their price objective on shares of Honeywell International from $162.00 to $180.00 and gave the stock a buy rating in a research note on Thursday, December 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Honeywell International to $163.00 and gave the stock an outperform rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $160.14.

Honeywell International (HON) traded up $1.15 during trading on Friday, reaching $159.07. 2,340,000 shares of the company’s stock traded hands, compared to its average volume of 3,180,000. The firm has a market cap of $120,390.00, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35. Honeywell International has a 52-week low of $116.66 and a 52-week high of $159.49.

Honeywell International (NYSE:HON) last released its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. The firm had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. Honeywell International’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. equities research analysts anticipate that Honeywell International will post 7.1 earnings per share for the current year.

Honeywell International announced that its board has approved a stock repurchase program on Friday, December 8th that authorizes the company to buyback $6.50 billion in shares. This buyback authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

In related news, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the sale, the director now directly owns 4,002 shares in the company, valued at $585,932.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the sale, the vice president now owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Hanson McClain Inc. raised its position in shares of Honeywell International by 0.4% in the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock valued at $101,000 after purchasing an additional 3 shares during the period. Burt Wealth Advisors raised its position in shares of Honeywell International by 65.4% in the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock valued at $101,000 after purchasing an additional 300 shares during the period. Guidant Wealth Advisors raised its position in shares of Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after purchasing an additional 104 shares during the period. Mosaic Family Wealth LLC raised its position in shares of Honeywell International by 11.4% in the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock valued at $102,000 after purchasing an additional 78 shares during the period. Finally, CKW Financial Group bought a new position in shares of Honeywell International in the second quarter valued at approximately $108,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

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Honeywell International Company Profile

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.

Analyst Recommendations for Honeywell International (NYSE:HON)

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