Investors bought shares of Honeywell International Inc. (NYSE:HON) on weakness during trading hours on Monday after Citigroup lowered their price target on the stock from $131.25 to $128.00. $178.72 million flowed into the stock on the tick-up and $132.06 million flowed out of the stock on the tick-down, for a money net flow of $46.66 million into the stock. Of all stocks tracked, Honeywell International had the 20th highest net in-flow for the day. Honeywell International traded down ($0.14) for the day and closed at $106.80
Several other equities analysts also recently commented on HON. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Honeywell International in a research note on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $114.00 price objective on shares of Honeywell International in a research note on Monday, July 25th. Morgan Stanley set a $130.00 price objective on shares of Honeywell International and gave the company a “buy” rating in a research note on Monday, August 22nd. Robert W. Baird began coverage on shares of Honeywell International in a research note on Thursday, October 6th. They set an “outperform” rating and a $135.00 price objective for the company. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $128.00 price objective on shares of Honeywell International in a research note on Monday, July 25th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $123.26.
In other Honeywell International news, SVP Katherine L. Adams sold 108,712 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $116.13, for a total value of $12,624,724.56. Following the transaction, the senior vice president now directly owns 224,530 shares in the company, valued at $26,074,668.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Cote sold 534,505 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $116.15, for a total transaction of $62,082,755.75. Following the completion of the transaction, the chief executive officer now owns 700,000 shares in the company, valued at $81,305,000. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. acquired a new position in Honeywell International during the first quarter valued at $1,805,000. Buffington Mohr McNeal increased its position in Honeywell International by 222.1% in the first quarter. Buffington Mohr McNeal now owns 21,210 shares of the company’s stock valued at $2,377,000 after buying an additional 14,626 shares during the last quarter. Virginia Retirement System acquired a new position in Honeywell International during the first quarter valued at $26,754,000. Badgley Phelps & Bell Inc. increased its position in Honeywell International by 3.2% in the first quarter. Badgley Phelps & Bell Inc. now owns 94,444 shares of the company’s stock valued at $10,582,000 after buying an additional 2,967 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Honeywell International by 21.6% in the first quarter. IFP Advisors Inc now owns 24,740 shares of the company’s stock valued at $2,772,000 after buying an additional 4,387 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
The firm has a 50-day moving average of $115.07 and a 200-day moving average of $115.12. The firm has a market cap of $81.26 billion, a price-to-earnings ratio of 16.90 and a beta of 1.05.
Honeywell International (NYSE:HON) last posted its quarterly earnings data on Friday, July 22nd. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm earned $9.78 billion during the quarter, compared to analyst estimates of $10.13 billion. Honeywell International had a net margin of 12.60% and a return on equity of 26.84%. Honeywell International’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.51 EPS. Analysts predict that Honeywell International Inc. will post $6.68 EPS for the current fiscal year.
About Honeywell International
Honeywell International Inc (Honeywell) is a technology and manufacturing company. The Company operates in three segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). Its Aerospace segment supplies aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors.
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