Honeywell International (NYSE:HON) had its price target hoisted by investment analysts at Argus from $160.00 to $170.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the conglomerate’s stock. Argus’ price objective indicates a potential upside of 10.59% from the stock’s current price.
Several other equities analysts have also weighed in on the company. Zacks Investment Research raised Honeywell International from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research note on Thursday, September 21st. Deutsche Bank reissued a “buy” rating and issued a $171.00 target price on shares of Honeywell International in a research note on Tuesday, November 28th. Royal Bank of Canada increased their target price on Honeywell International from $148.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Citigroup increased their target price on Honeywell International from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 9th. Finally, Vertical Research reissued a “buy” rating on shares of Honeywell International in a research note on Friday, October 20th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $160.50.
Honeywell International (NYSE:HON) opened at $153.72 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35. Honeywell International has a one year low of $115.42 and a one year high of $156.70. The stock has a market capitalization of $117,101.27, a price-to-earnings ratio of 22.26, a PEG ratio of 2.57 and a beta of 0.99.
Honeywell International announced that its Board of Directors has initiated a stock repurchase program on Friday, December 8th that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the conglomerate to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the transaction, the director now directly owns 4,002 shares in the company, valued at $585,932.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $145.12, for a total value of $1,897,298.88. Following the transaction, the vice president now owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Honeywell International by 2.5% during the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after buying an additional 1,234,672 shares in the last quarter. BlackRock Inc. grew its stake in Honeywell International by 2.8% in the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after purchasing an additional 1,207,893 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Honeywell International by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock valued at $1,918,100,000 after purchasing an additional 207,142 shares in the last quarter. FMR LLC grew its stake in Honeywell International by 9.3% in the second quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock valued at $1,120,396,000 after purchasing an additional 714,881 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Honeywell International by 9.1% in the second quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock valued at $1,005,003,000 after purchasing an additional 629,221 shares in the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.
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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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