Royal Bank of Canada downgraded shares of Honeywell International (NYSE:HON) from an outperform rating to a sector perform rating in a report issued on Wednesday morning. They currently have $158.00 price objective on the conglomerate’s stock, down from their previous price objective of $163.00. The analysts noted that the move was a valuation call.
Several other brokerages also recently weighed in on HON. Jefferies Group reissued a buy rating and issued a $155.00 target price on shares of Honeywell International in a research note on Thursday, September 28th. Argus boosted their target price on shares of Honeywell International from $160.00 to $170.00 and gave the company a buy rating in a research note on Friday, December 22nd. Robert W. Baird reissued a buy rating and issued a $156.00 target price (up previously from $140.00) on shares of Honeywell International in a research note on Wednesday, October 11th. Stifel Nicolaus cut their target price on shares of Honeywell International from $171.00 to $169.00 and set a buy rating for the company in a research note on Thursday, December 14th. Finally, Morgan Stanley boosted their target price on shares of Honeywell International from $145.00 to $149.00 and gave the company an overweight rating in a research note on Friday, September 22nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Honeywell International presently has an average rating of Buy and an average price target of $160.14.
Honeywell International (HON) traded up $1.08 during trading hours on Wednesday, hitting $155.58. The stock had a trading volume of 2,408,249 shares, compared to its average volume of 4,565,833. The firm has a market cap of $117,400.00, a P/E ratio of 23.57, a PEG ratio of 2.32 and a beta of 0.99. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. Honeywell International has a fifty-two week low of $116.22 and a fifty-two week high of $156.70.
Honeywell International declared that its board has authorized a share buyback program on Friday, December 8th that authorizes the company to repurchase $6.50 billion in shares. This repurchase authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Honeywell International news, VP Krishna Mikkilineni sold 13,074 shares of the company’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 value of $1,897,298.88. Following the transaction, the vice president now directly owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of the company’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 value of $194,432.48. Following the completion of the transaction, the director now directly owns 4,002 shares in the company, valued at $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Honeywell International by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after acquiring an additional 1,234,672 shares in the last quarter. BlackRock Inc. raised its position in shares of Honeywell International by 2.8% during the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after acquiring an additional 1,207,893 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Honeywell International by 1.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock valued at $1,918,100,000 after acquiring an additional 207,142 shares in the last quarter. FMR LLC raised its position in shares of Honeywell International by 9.3% during the 2nd quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock valued at $1,120,396,000 after acquiring an additional 714,881 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Honeywell International by 9.1% during the 2nd quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock valued at $1,005,003,000 after acquiring an additional 629,221 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors.
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.
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