Oppenheimer Raises Honeywell International (HON) Price Target to $168.00

Honeywell International (NYSE:HON) had its price target hoisted by Oppenheimer from $155.00 to $168.00 in a research report report published on Thursday. They currently have an outperform rating on the conglomerate’s stock. Oppenheimer also issued estimates for Honeywell International’s Q1 2018 earnings at $1.82 EPS, Q2 2018 earnings at $1.93 EPS, Q3 2018 earnings at $1.93 EPS, Q4 2018 earnings at $2.02 EPS and FY2019 earnings at $8.40 EPS.

Other equities research analysts also recently issued reports about the stock. Jefferies Group reissued a buy rating and issued a $155.00 price target on shares of Honeywell International in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Honeywell International from a hold rating to a buy rating and set a $155.00 price target on the stock in a research note on Thursday, August 17th. Royal Bank of Canada set a $148.00 price target on shares of Honeywell International and gave the company a buy rating in a research note on Sunday, August 27th. Deutsche Bank reissued a buy rating and issued a $154.00 price target on shares of Honeywell International in a research note on Thursday, September 21st. Finally, Citigroup boosted their price target on shares of Honeywell International from $155.00 to $170.00 and gave the company a buy rating in a research note on Monday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $159.79.

Honeywell International (NYSE:HON) opened at $154.25 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a market cap of $116,647.13, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.35 and a beta of 0.99. Honeywell International has a fifty-two week low of $113.60 and a fifty-two week high of $156.70.

Honeywell International (NYSE:HON) last posted its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, meeting the consensus estimate of $1.75. The company had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. Honeywell International’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 EPS. equities research analysts predict that Honeywell International will post 7.1 earnings per share for the current fiscal year.

Honeywell International announced that its Board of Directors has authorized a stock repurchase program on Friday, December 8th that allows the company to buyback $6.50 billion in outstanding shares. This buyback authorization allows the conglomerate to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were paid a dividend of $0.745 per share. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, November 16th. Honeywell International’s dividend payout ratio is presently 45.15%.

In related news, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the sale, the vice president now directly owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $146.41, for a total transaction of $194,432.48. Following the sale, the director now directly owns 4,002 shares in the company, valued at $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC increased its position in shares of Honeywell International by 5.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,729,219 shares of the conglomerate’s stock valued at $245,100,000 after purchasing an additional 89,351 shares during the last quarter. AXA increased its position in shares of Honeywell International by 8.4% in the 3rd quarter. AXA now owns 950,701 shares of the conglomerate’s stock valued at $134,752,000 after purchasing an additional 74,040 shares during the last quarter. Wagner Bowman Management Corp increased its position in shares of Honeywell International by 8.2% in the 3rd quarter. Wagner Bowman Management Corp now owns 6,277 shares of the conglomerate’s stock valued at $889,000 after purchasing an additional 475 shares during the last quarter. Institutional & Family Asset Management LLC increased its position in shares of Honeywell International by 8.1% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 5,401 shares of the conglomerate’s stock valued at $766,000 after purchasing an additional 405 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Honeywell International in the 3rd quarter valued at approximately $2,409,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

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About Honeywell International

Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.

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