TD Cowen Issues Pessimistic Forecast for Honeywell International (NASDAQ:HON) Stock Price

Honeywell International (NASDAQ:HON) had its target price cut by stock analysts at TD Cowen from $250.00 to $240.00 in a research note issued on Monday, MarketBeat reports. The firm presently has a “buy” rating on the conglomerate’s stock. TD Cowen’s target price would indicate a potential upside of 19.75% from the company’s previous close.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Wells Fargo & Company raised their target price on shares of Honeywell International from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Morgan Stanley dropped their price target on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 28th. Citigroup increased 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. Finally, Barclays raised 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, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Honeywell International has an average rating of “Moderate Buy” and a consensus target price of $247.50.

Honeywell International Trading Up 2.2%

Shares of Honeywell International stock opened at $200.41 on Monday. Honeywell International has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. The company has a market capitalization of $127.24 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.73 and a beta of 1.07. The company has a fifty day moving average of $207.82 and a 200 day moving average of $218.30.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion for 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. On average, sell-side analysts anticipate that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Insider Activity at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Honeywell International

Several institutional investors have recently added to or reduced their stakes in HON. Nuveen LLC purchased a new stake in Honeywell International during the 1st quarter worth approximately $1,150,929,000. Laurel Wealth Advisors LLC lifted its stake in shares of Honeywell International by 23,503.0% during the second quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock worth $865,506,000 after buying an additional 3,700,786 shares during the period. Wellington Management Group LLP lifted its stake in shares of Honeywell International by 8.9% during the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock worth $3,335,476,000 after buying an additional 1,293,137 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Honeywell International by 64.6% during the first quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate’s stock valued at $561,634,000 after buying an additional 1,041,273 shares during the last quarter. Finally, Vista Cima Wealth Management LLC acquired a new position in shares of Honeywell International in the 1st quarter valued at $164,000. 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.