Honeywell International (NASDAQ:HON) Downgraded by Vertical Research to “Hold”

Vertical Research lowered shares of Honeywell International (NASDAQ:HON) from a buy rating to a hold rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has $220.00 price target on the conglomerate’s stock.

HON has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Friday, November 14th. Barclays cut their price objective on shares of Honeywell International from $269.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 24th. Rothschild & Co Redburn reduced their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Citigroup raised their target price on shares of Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group reduced their price target on Honeywell International from $245.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $234.30.

Honeywell International Trading Up 2.7%

NASDAQ HON opened at $201.09 on Monday. Honeywell International has a one year low of $169.21 and a one year high of $228.04. 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 $127.67 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. The company’s 50-day simple moving average is $195.85 and its two-hundred day simple moving average is $211.10.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $8.95 billion for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. Equities analysts forecast that Honeywell International will post 10.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Honeywell International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in shares of Honeywell International by 28.8% in the third quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate’s stock valued at $2,146,372,000 after purchasing an additional 2,277,234 shares during the period. Bank of New York Mellon Corp increased its holdings in Honeywell International by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock worth $1,578,344,000 after buying an additional 48,968 shares during the period. Invesco Ltd. raised its position in Honeywell International by 11.0% during the 3rd quarter. Invesco Ltd. now owns 6,115,954 shares of the conglomerate’s stock worth $1,287,408,000 after buying an additional 605,600 shares during the last quarter. Unisphere Establishment lifted its stake in Honeywell International by 5.4% during the 3rd quarter. Unisphere Establishment now owns 4,215,000 shares of the conglomerate’s stock valued at $887,258,000 after acquiring an additional 215,000 shares during the period. Finally, Capital Research Global Investors lifted its stake in Honeywell International by 1.4% during the 3rd quarter. Capital Research Global Investors now owns 4,046,957 shares of the conglomerate’s stock valued at $851,880,000 after acquiring an additional 55,681 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Company Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.