Honeywell International (NASDAQ:HON) Price Target Cut to $213.00

Honeywell International (NASDAQ:HON) had its price objective cut by investment analysts at Royal Bank of Canada from $214.00 to $213.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the conglomerate’s stock. Royal Bank of Canada’s price target points to a potential upside of 2.50% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Robert W. Baird downgraded Honeywell International from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $223.00 to $217.00 in a research note on Friday. Barclays dropped their price target on shares of Honeywell International from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America reiterated a “neutral” rating and set a $230.00 price target (down previously from $250.00) on shares of Honeywell International in a report on Thursday. Morgan Stanley began coverage on Honeywell International in a report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Honeywell International from $235.00 to $233.00 and set a “neutral” rating on the stock in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Honeywell International has an average rating of “Hold” and an average target price of $223.73.

Honeywell International Price Performance

NASDAQ:HON traded down $1.30 on Friday, hitting $207.80. The company had a trading volume of 2,265,193 shares, compared to its average volume of 2,890,349. The firm has a 50 day moving average of $207.20 and a two-hundred day moving average of $205.32. The stock has a market capitalization of $135.32 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.45 and a beta of 1.03. Honeywell International has a 52 week low of $174.88 and a 52 week high of $222.98. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.08. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The company had revenue of $9.73 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, research analysts anticipate that Honeywell International will post 10.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HON. Farmers & Merchants Investments Inc. increased its stake in Honeywell International by 1.4% in the third quarter. Farmers & Merchants Investments Inc. now owns 71,876 shares of the conglomerate’s stock valued at $14,857,000 after purchasing an additional 975 shares in the last quarter. MONECO Advisors LLC grew its stake in shares of Honeywell International by 23.5% in the 3rd quarter. MONECO Advisors LLC now owns 5,027 shares of the conglomerate’s stock valued at $1,039,000 after buying an additional 958 shares during the period. Fortitude Family Office LLC raised its stake in Honeywell International by 54.5% during the 3rd quarter. Fortitude Family Office LLC now owns 1,744 shares of the conglomerate’s stock worth $361,000 after buying an additional 615 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Honeywell International by 110.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 8,240 shares of the conglomerate’s stock worth $1,703,000 after acquiring an additional 4,325 shares in the last quarter. Finally, SFE Investment Counsel grew its stake in Honeywell International by 4.0% in the third quarter. SFE Investment Counsel now owns 21,438 shares of the conglomerate’s stock valued at $4,431,000 after acquiring an additional 825 shares during the period. Institutional investors and hedge funds own 75.91% of the company’s stock.

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.