Bank of America Reaffirms “Underperform” Rating for Honeywell International (NASDAQ:HON)

Honeywell International (NASDAQ:HON)‘s stock had its “underperform” rating reissued by equities research analysts at Bank of America in a research report issued on Tuesday,Benzinga reports. They presently have a $205.00 price objective on the conglomerate’s stock, down from their previous price objective of $265.00. Bank of America‘s price objective indicates a potential upside of 4.55% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. HSBC reduced their price target on shares of Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Wells Fargo & Company cut their price objective on Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Cowen decreased their target price on Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Barclays upped their price target on Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.38.

Honeywell International Stock Down 1.5%

Honeywell International stock opened at $196.08 on Tuesday. The company has a market capitalization of $124.49 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. Honeywell International has a fifty-two week low of $169.21 and a fifty-two week high of $228.04. The firm has a 50 day moving average price of $206.58 and a 200 day moving average price of $218.05.

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

Insiders Place Their Bets

In related news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Trading of Honeywell International

Several institutional investors have recently modified their holdings of the stock. U S Wealth Group LLC. boosted its holdings in shares of Honeywell International by 49.1% in the 3rd quarter. U S Wealth Group LLC. now owns 16,123 shares of the conglomerate’s stock valued at $3,394,000 after buying an additional 5,307 shares in the last quarter. Hancock Whitney Corp boosted its stake in Honeywell International by 3.6% in the third quarter. Hancock Whitney Corp now owns 26,529 shares of the conglomerate’s stock valued at $5,584,000 after acquiring an additional 912 shares in the last quarter. Saratoga Research & Investment Management increased its position in shares of Honeywell International by 45.4% during the third quarter. Saratoga Research & Investment Management now owns 84,226 shares of the conglomerate’s stock worth $17,730,000 after purchasing an additional 26,301 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its position in shares of Honeywell International by 2.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 4,477 shares of the conglomerate’s stock valued at $942,000 after purchasing an additional 95 shares during the period. Finally, OmniStar Financial Group Inc. purchased a new position in Honeywell International during the 3rd quarter worth approximately $1,352,000. Hedge funds and other institutional investors 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.