Honeywell International’s (HON) “Neutral” Rating Reaffirmed at Bank of America

Bank of America reiterated their neutral rating on shares of Honeywell International (NASDAQ:HON) in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a $230.00 price target on the conglomerate’s stock, down from their prior price target of $250.00.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Honeywell International from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $235.00 in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $214.00 price target on shares of Honeywell International in a research report on Thursday, September 26th. Wells Fargo & Company decreased their target price on shares of Honeywell International from $215.00 to $207.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. StockNews.com downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Morgan Stanley assumed coverage on Honeywell International in a research note on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price target for the company. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Honeywell International has a consensus rating of “Hold” and an average target price of $223.73.

Honeywell International Stock Performance

Shares of HON stock opened at $208.00 on Thursday. The company has a market capitalization of $135.45 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.45 and a beta of 1.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 and a current ratio of 1.21. Honeywell International has a 52 week low of $174.88 and a 52 week high of $222.98. The company has a 50-day simple moving average of $207.39 and a 200 day simple moving average of $205.51.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.08. The company had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. On average, sell-side analysts predict that Honeywell International will post 10.1 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s payout ratio is currently 52.38%.

Hedge Funds Weigh In On Honeywell International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LGT Group Foundation acquired a new stake in Honeywell International in the first quarter valued at $26,000. Richardson Capital Management LLC bought a new position in shares of Honeywell International during the 1st quarter worth approximately $35,000. Financial Connections Group Inc. acquired a new stake in shares of Honeywell International during the 2nd quarter worth approximately $38,000. Pathway Financial Advisers LLC bought a new stake in shares of Honeywell International in the 1st quarter valued at $39,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Honeywell International during the 1st quarter valued at $42,000. Institutional investors own 75.91% of the company’s stock.

About Honeywell International

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.