HSBC Lowers Honeywell International (NASDAQ:HON) Price Target to $266.00

Honeywell International (NASDAQ:HON) had its target price decreased by stock analysts at HSBC from $290.00 to $266.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. HSBC’s price objective would suggest a potential upside of 35.37% from the stock’s current price.

HON has been the topic of a number of other research reports. Barclays increased their target price on Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Citigroup upped their price objective on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, October 24th. TD Cowen cut their target price on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Monday. Finally, Rothschild & Co Redburn reduced their price target on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

Honeywell International Price Performance

NASDAQ:HON opened at $196.51 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. Honeywell International has a 52 week low of $179.36 and a 52 week high of $242.77. The stock’s 50-day moving average price is $208.16 and its 200-day moving average price is $218.30. The stock has a market capitalization of $124.76 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The company 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. As a group, equities analysts expect that Honeywell International will post 10.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lucian Boldea sold 42,149 shares of the 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 in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Honeywell International

Several large investors have recently modified their holdings of HON. Chung Wu Investment Group LLC purchased a new stake in Honeywell International in the 2nd quarter valued at about $26,000. Barnes Dennig Private Wealth Management LLC boosted its stake in Honeywell International by 491.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate’s stock worth $30,000 after buying an additional 118 shares during the period. Pandora Wealth Inc. acquired a new stake in shares of Honeywell International during the first quarter valued at about $33,000. RMG Wealth Management LLC purchased a new stake in shares of Honeywell International in the 2nd quarter valued at approximately $33,000. Finally, Activest Wealth Management lifted its holdings in shares of Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds 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.