Trading Report: Today, Argus Reaffirms Buy Rating for Honeywell International Inc. (HON)

Today, Argus Reaffirms Buy Rating for Honeywell International Inc. (HON)

Argus restated their buy rating on shares of Honeywell International Inc. (NYSE:HON) in a report released on Wednesday.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised their target price on Honeywell International from $129.00 to $130.00 and gave the company an overweight rating in a report 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 report on Monday, July 25th. Citigroup Inc. reaffirmed a buy rating and issued a $132.00 target price on shares of Honeywell International in a report on Tuesday, July 26th. Barclays PLC raised their target price on Honeywell International from $127.00 to $131.00 and gave the company an overweight rating in a report on Monday, July 25th. Finally, Credit Suisse Group AG reaffirmed a hold rating on shares of Honeywell International in a report on Saturday, July 9th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Honeywell International currently has a consensus rating of Buy and an average price target of $123.00.

Shares of Honeywell International (NYSE:HON) opened at 109.00 on Wednesday. Honeywell International has a 52 week low of $93.71 and a 52 week high of $120.02. The firm has a market capitalization of $82.94 billion, a PE ratio of 17.24 and a beta of 1.05. The company’s 50 day moving average price is $114.03 and its 200-day moving average price is $114.93.

Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.66 earnings per share (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 the consensus estimate of $10.13 billion. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. On average, equities research analysts expect that Honeywell International will post $6.68 EPS for the current fiscal year.

In other Honeywell International news, SVP Katherine L. Adams sold 108,712 shares of Honeywell International stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $116.13, for a total transaction of $12,624,724.56. Following the completion of the transaction, the senior vice president now owns 224,530 shares in the company, valued at approximately $26,074,668.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Darius Adamczyk sold 13,985 shares of Honeywell International stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $116.18, for a total value of $1,624,777.30. Following the transaction, the chief operating officer now owns 14,266 shares of the company’s stock, valued at approximately $1,657,423.88. The disclosure for this sale can be found here. Company insiders own 1.83% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HON. Vanguard Group Inc. increased its position 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 position in Honeywell International by 1.0% in the first quarter. State Street Corp now owns 27,915,988 shares of the company’s stock valued at $3,127,990,000 after buying an additional 264,413 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in 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 valued at $2,281,268,000 after buying an additional 161,354 shares in the last quarter. FMR LLC boosted its position in Honeywell International by 2.7% in the second quarter. FMR LLC now owns 13,721,682 shares of the company’s stock valued at $1,596,106,000 after buying an additional 358,668 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Honeywell International by 3.5% in the second quarter. BlackRock Fund Advisors now owns 8,980,272 shares of the company’s stock valued at $1,044,585,000 after buying an additional 303,034 shares in the last quarter. Institutional investors and hedge funds own 76.49% of the company’s stock.

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