Royal Bank of Canada Forecasts Strong Price Appreciation for Honeywell International (NASDAQ:HON) Stock

Honeywell International (NASDAQ:HON) had its target price raised by analysts at Royal Bank of Canada from $213.00 to $253.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the conglomerate’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.27% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company upped their target price on shares of Honeywell International from $207.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Bank of America reaffirmed a “neutral” rating and issued a $230.00 target price (down previously from $250.00) on shares of Honeywell International in a report on Thursday, October 24th. Barclays lowered their target price on shares of Honeywell International from $232.00 to $229.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Honeywell International from $235.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Baird R W lowered shares of Honeywell International from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $241.45.

Honeywell International Stock Performance

Shares of NASDAQ HON traded down $1.23 during trading hours on Wednesday, hitting $229.44. 431,895 shares of the stock were exchanged, compared to its average volume of 3,088,284. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 1.12. The company’s 50 day moving average is $210.77 and its 200 day moving average is $207.50. The firm has a market capitalization of $149.19 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.77 and a beta of 1.03. Honeywell International has a one year low of $189.66 and a one year high of $242.77.

Hedge Funds Weigh In On Honeywell International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America bought a new position in shares of Honeywell International in the third quarter valued at $25,000. LGT Group Foundation bought a new position in shares of Honeywell International in the first quarter valued at $26,000. Reston Wealth Management LLC bought a new position in shares of Honeywell International in the third quarter valued at $29,000. Planning Capital Management Corp grew its stake in shares of Honeywell International by 96.4% in the third quarter. Planning Capital Management Corp now owns 165 shares of the conglomerate’s stock valued at $34,000 after buying an additional 81 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in shares of Honeywell International in the second quarter valued at $38,000. 75.91% of the stock is owned by institutional investors.

Honeywell International Company Profile

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.