Todays Report: The Honeywell International Inc. (HON) Earns “Outperform” Rating from RBC Capital Markets

The Honeywell International Inc. (HON) Earns “Outperform” Rating from RBC Capital Markets

RBC Capital Markets reiterated their outperform rating on shares of Honeywell International Inc. (NYSE:HON) in a research note released on Monday. The brokerage currently has a $133.00 price objective on the stock, down from their prior price objective of $138.00.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Honeywell International from a hold rating to a buy rating and set a $127.00 price target on the stock in a research note on Monday, June 27th. Stifel Nicolaus reduced their target price on Honeywell International from $129.00 to $125.00 and set a buy rating on the stock in a research note on Monday, July 25th. Bank of America Corp. set a $132.00 target price on Honeywell International and gave the company a buy rating in a research note on Monday, July 25th. Citigroup Inc. reissued a buy rating and set a $132.00 target price on shares of Honeywell International in a research note on Thursday, June 30th. Finally, Morgan Stanley reissued a buy rating and set a $126.00 target price on shares of Honeywell International in a research note on Thursday, June 30th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $122.83.

Shares of Honeywell International (NYSE:HON) opened at 107.43 on Monday. Honeywell International has a 52-week low of $93.71 and a 52-week high of $120.02. The company has a 50-day moving average price of $114.49 and a 200-day moving average price of $115.00. The stock has a market capitalization of $81.74 billion, a price-to-earnings ratio of 17.00 and a beta of 1.05.

Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, July 22nd. The company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.02. The business had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. On average, equities analysts anticipate that Honeywell International will post $6.68 earnings per share for the current year.

In related news, CEO David M. Cote sold 534,505 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $116.15, for a total transaction of $62,082,755.75. Following the completion of the sale, the chief executive officer now owns 700,000 shares in the company, valued at $81,305,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy O. Mahoney sold 600 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $116.29, for a total value of $69,774.00. Following the sale, the insider now owns 68,398 shares of the company’s stock, valued at approximately $7,954,003.42. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Honeywell International by 3.7% in the second quarter. Vanguard Group Inc. now owns 44,675,101 shares of the company’s stock worth $5,196,607,000 after buying an additional 1,587,804 shares during the period. State Street Corp boosted its stake in shares of Honeywell International by 1.0% in the first quarter. State Street Corp now owns 27,915,988 shares of the company’s stock worth $3,127,990,000 after buying an additional 264,413 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Honeywell International by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,359,376 shares of the company’s stock worth $2,281,268,000 after buying an additional 161,354 shares during the last quarter. FMR LLC boosted its stake in shares of Honeywell International by 2.7% in the second quarter. FMR LLC now owns 13,721,682 shares of the company’s stock worth $1,596,106,000 after buying an additional 358,668 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Honeywell International by 3.5% in the second quarter. BlackRock Fund Advisors now owns 8,980,272 shares of the company’s stock worth $1,044,585,000 after buying an additional 303,034 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

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