Morgan Stanley Forecasts Strong Price Appreciation for Honeywell International (NASDAQ:HON) Stock

Honeywell International (NASDAQ:HON) had its target price raised by Morgan Stanley from $235.00 to $245.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the conglomerate’s stock. Morgan Stanley’s price objective suggests a potential upside of 4.48% from the company’s current price.

Other equities analysts also recently issued reports about the stock. DZ Bank cut their price objective on shares of Honeywell International from $248.00 to $237.00 in a report on Tuesday, December 23rd. Argus increased their target price on shares of Honeywell International from $250.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Vertical Research cut shares of Honeywell International from a “buy” rating to a “hold” rating and set a $220.00 price target on the stock. in a report on Monday, January 5th. BNP Paribas Exane upped their price objective on shares of Honeywell International from $195.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Honeywell International from $255.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $251.65.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $234.50 on Thursday. Honeywell International has a 52 week low of $169.21 and a 52 week high of $248.18. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $229.78 and a 200-day moving average price of $212.41. The company has a market cap of $149.07 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 3.38 and a beta of 0.92.

Honeywell International (NASDAQ:HON) last announced its earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.05. Honeywell International had a return on equity of 40.64% and a net margin of 12.74%.The company had revenue of $10.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Honeywell International’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director D Scott Davis sold 2,367 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $240.00, for a total transaction of $568,080.00. Following the sale, the director directly owned 31,081 shares in the company, valued at approximately $7,459,440. The trade was a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert D. Mailloux sold 5,274 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $239.00, for a total value of $1,260,486.00. Following the sale, the vice president directly owned 4,803 shares in the company, valued at $1,147,917. This trade represents a 52.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,190 shares of company stock worth $4,244,287 in the last three months. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. J. Stern & Co. LLP increased its holdings in Honeywell International by 22,704.6% during the 4th quarter. J. Stern & Co. LLP now owns 53,209,042 shares of the conglomerate’s stock worth $10,380,552,000 after acquiring an additional 52,975,716 shares during the period. SG Americas Securities LLC boosted its holdings in Honeywell International by 15,459.1% in the 4th quarter. SG Americas Securities LLC now owns 4,057,960 shares of the conglomerate’s stock valued at $791,667,000 after purchasing an additional 4,031,879 shares during the period. Laurel Wealth Advisors LLC grew its position in shares of Honeywell International by 23,503.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock valued at $865,506,000 after purchasing an additional 3,700,786 shares in the last quarter. 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 worth $2,146,372,000 after purchasing an additional 2,277,234 shares during the period. Finally, Mizuho Markets Americas LLC increased its holdings in shares of Honeywell International by 921.0% in the fourth quarter. Mizuho Markets Americas LLC now owns 2,042,000 shares of the conglomerate’s stock worth $398,374,000 after purchasing an additional 1,842,000 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

About Honeywell International

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.