Honeywell International (NASDAQ:HON) Upgraded to “Outperform” at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Honeywell International (NASDAQ:HON) from a sector perform rating to an outperform rating in a report published on Monday morning, Marketbeat Ratings reports. The firm currently has $253.00 target price on the conglomerate’s stock, up from their prior target price of $235.00.

A number of other research firms have also weighed in on HON. Citigroup upped their price objective on shares of Honeywell International from $265.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday. Barclays upped their price objective on shares of Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird lowered their price objective on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Morgan Stanley increased their price target on shares of Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. Finally, Wells Fargo & Company increased their price target on shares of Honeywell International from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $250.88.

Honeywell International Stock Down 0.5%

NASDAQ:HON opened at $215.07 on Monday. Honeywell International has a 1-year low of $179.36 and a 1-year high of $242.77. The company has a 50-day moving average of $212.01 and a 200 day moving average of $217.90. The firm has a market cap of $136.55 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.64 and a beta of 1.06. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share 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 during the quarter. 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, research analysts anticipate that Honeywell International will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.2%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. Honeywell International’s dividend payout ratio is currently 47.63%.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honeywell International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BankPlus Wealth Management LLC increased its holdings in Honeywell International by 2.2% in the 2nd quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate’s stock worth $463,000 after buying an additional 43 shares during the period. Summit Wealth Group LLC grew its stake in shares of Honeywell International by 4.3% during the 2nd quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate’s stock worth $260,000 after purchasing an additional 46 shares during the period. Maia Wealth LLC grew its stake in shares of Honeywell International by 4.1% during the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 47 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Honeywell International by 1.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate’s stock worth $628,000 after purchasing an additional 47 shares during the period. Finally, Bar Harbor Wealth Management grew its stake in shares of Honeywell International by 0.3% during the 2nd quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate’s stock worth $3,538,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds 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.