Argus Forecasts Strong Price Appreciation for Honeywell International (NASDAQ:HON) Stock

Honeywell International (NASDAQ:HON) had its price target increased by stock analysts at Argus from $250.00 to $290.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the conglomerate’s stock. Argus’ price objective points to a potential upside of 19.83% from the company’s current price.

Several other equities research analysts also recently weighed in on HON. Deutsche Bank Aktiengesellschaft increased their price target on Honeywell International from $259.00 to $273.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their price target on Honeywell International from $249.00 to $268.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on Honeywell International from $255.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Robert W. Baird boosted their target price on shares of Honeywell International from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $205.00 price objective (down previously from $265.00) on shares of Honeywell International in a report on Tuesday, November 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $246.32.

Honeywell International Stock Down 0.3%

Shares of HON stock traded down $0.65 during mid-day trading on Wednesday, hitting $242.01. The stock had a trading volume of 216,280 shares, compared to its average volume of 4,814,065. Honeywell International has a 12-month low of $169.21 and a 12-month high of $245.63. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.32 and a quick ratio of 1.05. The firm’s 50-day moving average is $213.74 and its two-hundred day moving average is $209.46. The firm has a market capitalization of $153.65 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 3.50 and a beta of 0.94.

Honeywell International (NASDAQ:HON) last announced its earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.05. Honeywell International had a return on equity of 40.40% and a net margin of 12.74%.The business had revenue of $10.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Insider Activity at Honeywell International

In other Honeywell International news, VP Robert D. Mailloux sold 5,274 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $239.00, for a total transaction of $1,260,486.00. Following the transaction, the vice president directly owned 4,803 shares in the company, valued at approximately $1,147,917. This represents a 52.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Honeywell International

Hedge funds have recently added to or reduced their stakes in the business. Verus Capital Partners LLC boosted its position in shares of Honeywell International by 0.7% in the fourth quarter. Verus Capital Partners LLC now owns 6,658 shares of the conglomerate’s stock worth $1,299,000 after buying an additional 44 shares during the period. Claro Advisors Inc. raised its position in shares of Honeywell International by 0.3% during the 4th quarter. Claro Advisors Inc. now owns 13,930 shares of the conglomerate’s stock valued at $2,718,000 after acquiring an additional 45 shares in the last quarter. Summit Wealth Group LLC boosted its holdings in shares of Honeywell International by 4.3% in the 2nd quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate’s stock valued at $260,000 after buying an additional 46 shares during the period. FSM Wealth Advisors LLC grew its holdings in shares of Honeywell International by 1.1% during the fourth quarter. FSM Wealth Advisors LLC now owns 4,231 shares of the conglomerate’s stock valued at $825,000 after purchasing an additional 46 shares during the last quarter. Finally, Meridian Financial Partners LLC increased its position in Honeywell International by 3.8% in the fourth quarter. Meridian Financial Partners LLC now owns 1,258 shares of the conglomerate’s stock worth $245,000 after buying an additional 46 shares during the period. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Company Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.