Honeywell International (NASDAQ:HON) Earns Outperform Rating from Analysts at Evercore ISI

by · The Markets Daily

Evercore ISI began coverage on shares of Honeywell International (NASDAQ:HON – Free Report) in a report published on Monday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $255.00 price objective on the conglomerate’s stock.

A number of other equities analysts have also weighed in on the company. HSBC lowered their target price on Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Rothschild & Co Redburn dropped their target price on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Wells Fargo & Company reduced their target price on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating for the company in a research report on Friday, November 14th. Jefferies Financial Group decreased their price target on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Finally, BNP Paribas Exane assumed coverage on shares of Honeywell International in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $195.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $236.56.

Get Our Latest Stock Analysis on HON

Honeywell International Price Performance

Shares of HON opened at $199.89 on Monday. The firm has a market capitalization of $126.91 billion, a PE ratio of 21.06, a PEG ratio of 2.65 and a beta of 0.96. The company’s 50-day moving average is $198.62 and its 200-day moving average is $213.78. Honeywell International has a fifty-two week low of $169.21 and a fifty-two week high of $228.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04.

Honeywell International (NASDAQ:HON – Get Free Report) last announced its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. Equities analysts forecast that Honeywell International will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were given a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is currently 50.16%.

Hedge Funds Weigh In On Honeywell International

Several hedge funds have recently bought and sold shares of HON. Wellington Management Group LLP increased its stake in Honeywell International by 8.9% in the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock valued at $3,335,476,000 after acquiring an additional 1,293,137 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Honeywell International by 28.8% in the 3rd quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate’s stock valued at $2,146,372,000 after purchasing an additional 2,277,234 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Honeywell International by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock valued at $1,578,344,000 after purchasing an additional 48,968 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Honeywell International by 11.0% during the 3rd quarter. Invesco Ltd. now owns 6,115,954 shares of the conglomerate’s stock worth $1,287,408,000 after buying an additional 605,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Honeywell International by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock worth $1,278,563,000 after buying an additional 505,083 shares during the last quarter. 75.91% of the stock is owned by institutional investors.

About Honeywell International

(Get Free Report)

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.

Featured Stories