Honeywell International (NASDAQ:HON) Raised to Buy at Bank of America

Bank of America upgraded shares of Honeywell International (NASDAQ:HON) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat reports. Bank of America currently has $250.00 price target on the conglomerate’s stock.

Several other analysts have also commented on the stock. Morgan Stanley increased their price target on shares of Honeywell International from $210.00 to $217.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price on Honeywell International from $205.00 to $178.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company boosted their price target on Honeywell International from $205.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft raised Honeywell International from a “hold” rating to a “buy” rating and increased their price objective for the company from $236.00 to $260.00 in a research note on Friday, February 7th. Finally, Barclays cut their target price on shares of Honeywell International from $247.00 to $243.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.23.

Honeywell International Stock Performance

HON opened at $213.03 on Wednesday. Honeywell International has a 1-year low of $179.36 and a 1-year high of $242.77. The stock has a market cap of $136.91 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.51 and a beta of 1.07. The stock’s 50 day simple moving average is $205.26 and its 200 day simple moving average is $215.33. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.31 and a quick ratio of 1.01.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.30. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter last year, the business posted $2.25 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Honeywell International will post 10.34 EPS for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.52 annualized dividend and a dividend yield of 2.12%. Honeywell International’s payout ratio is 51.95%.

Insider Buying and Selling

In other news, VP Anne T. Madden sold 28,885 shares of Honeywell International stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $207.89, for a total transaction of $6,004,902.65. Following the sale, the vice president now owns 41,580 shares in the company, valued at $8,644,066.20. This trade represents a 40.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Honeywell International by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock valued at $13,172,852,000 after buying an additional 447,744 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Honeywell International by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 14,988,152 shares of the conglomerate’s stock valued at $3,379,568,000 after purchasing an additional 627,422 shares during the last quarter. Capital World Investors acquired a new stake in Honeywell International during the 4th quarter valued at approximately $1,594,216,000. Bank of New York Mellon Corp increased its holdings in Honeywell International by 10.3% during the 4th quarter. Bank of New York Mellon Corp now owns 6,763,764 shares of the conglomerate’s stock worth $1,527,867,000 after purchasing an additional 631,761 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Honeywell International by 5.5% in the 4th quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate’s stock valued at $1,500,141,000 after purchasing an additional 346,190 shares in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

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.