Evercore ISI Initiates Coverage on Honeywell International (NASDAQ:HON)

Stock analysts at Evercore ISI assumed coverage on shares of Honeywell International (NASDAQ:HON) in a report released on Monday. The firm set an “outperform” rating and a $255.00 price target on the conglomerate’s stock. Evercore ISI’s target price points to a potential upside of 31.13% from the company’s previous close.

Several other analysts also recently commented on HON. BNP Paribas Exane started coverage on Honeywell International in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $195.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Royal Bank Of Canada upgraded shares of Honeywell International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $253.00 in a research report on Monday, October 27th. Jefferies Financial Group cut their price target on shares of Honeywell International from $230.00 to $220.00 in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Honeywell International from $265.00 to $264.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $236.59.

Honeywell International Price Performance

Shares of NASDAQ HON opened at $194.46 on Monday. The stock has a 50 day moving average of $199.27 and a two-hundred day moving average of $214.26. Honeywell International has a twelve month low of $169.21 and a twelve month high of $228.04. The stock has a market cap of $123.46 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.59 and a beta of 0.96. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The company had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts forecast that Honeywell International will post 10.34 earnings per share for the current year.

Institutional Investors Weigh In On Honeywell International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Honeywell International by 9.1% in the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock valued at $4,302,000 after acquiring an additional 1,582 shares during the period. American Century Companies Inc. boosted its holdings in Honeywell International by 2.9% in the 1st quarter. American Century Companies Inc. now owns 301,211 shares of the conglomerate’s stock worth $63,782,000 after acquiring an additional 8,493 shares during the period. Steward Partners Investment Advisory LLC grew its position in Honeywell International by 1.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 86,241 shares of the conglomerate’s stock valued at $18,262,000 after acquiring an additional 1,168 shares in the last quarter. Prospector Partners LLC purchased a new stake in shares of Honeywell International during the first quarter valued at approximately $10,444,000. Finally, Brooklyn Investment Group boosted its stake in shares of Honeywell International by 27.8% in the first quarter. Brooklyn Investment Group now owns 3,949 shares of the conglomerate’s stock valued at $836,000 after purchasing an additional 860 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

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.