TD Cowen Cuts Honeywell International (NASDAQ:HON) Price Target to $240.00

Honeywell International (NASDAQ:HON) had its target price reduced by TD Cowen from $250.00 to $240.00 in a research report report published on Monday, Marketbeat.com reports. TD Cowen currently has a buy rating on the conglomerate’s stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Honeywell International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. JPMorgan Chase & Co. upped their price objective on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Citigroup lifted their target price on Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Morgan Stanley cut their price target on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 28th. Finally, Jefferies Financial Group reduced their price target on Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Honeywell International presently has a consensus rating of “Moderate Buy” and an average price target of $244.13.

Honeywell International Trading Up 0.6%

HON opened at $201.59 on Monday. Honeywell International has a 52 week low of $169.21 and a 52 week high of $228.04. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The business has a fifty day simple moving average of $207.57 and a 200-day simple moving average of $218.19. The firm has a market cap of $127.99 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.73 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The firm had revenue of $8.95 billion for 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. On average, equities analysts expect that Honeywell International will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is currently 50.16%.

Insider Buying and Selling at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Honeywell International

Hedge funds have recently added to or reduced their stakes in the stock. Amundi boosted its position in shares of Honeywell International by 30.2% in the first quarter. Amundi now owns 519,882 shares of the conglomerate’s stock worth $107,450,000 after buying an additional 120,706 shares during the period. Triton Financial Group Inc purchased a new stake in Honeywell International in the 2nd quarter worth about $1,001,000. Baxter Bros Inc. boosted its position in Honeywell International by 14.6% during the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock worth $8,321,000 after acquiring an additional 4,543 shares during the period. Integrated Wealth Concepts LLC boosted its position in Honeywell International by 11.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate’s stock worth $6,035,000 after acquiring an additional 2,915 shares during the period. Finally, WIM INVESTMENT MANAGEMENT Ltd grew its stake in Honeywell International by 40.5% during the 1st quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 28,800 shares of the conglomerate’s stock valued at $6,098,000 after acquiring an additional 8,300 shares in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

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.