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

Honeywell International (NASDAQ:HON) had its price objective upped by Citigroup from $251.56 to $267.00 in a report released on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the conglomerate’s stock. Citigroup’s target price points to a potential upside of 35.85% from the company’s previous close.

Several other research firms have also recently issued reports on HON. Wells Fargo & Company lifted their price objective on shares of Honeywell International from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Jefferies Financial Group decreased their price target on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada upgraded shares of Honeywell International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $253.00 in a research report on Monday, October 27th. JPMorgan Chase & Co. raised their price objective on shares of Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Robert W. Baird dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.63.

Honeywell International Stock Down 0.6%

Shares of NASDAQ:HON opened at $196.55 on Tuesday. The business has a 50-day moving average price of $210.65 and a 200 day moving average price of $218.35. Honeywell International has a 12-month low of $179.36 and a 12-month high of $242.77. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $124.79 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.73 and a beta of 1.06.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company 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. Sell-side analysts expect that Honeywell International will post 10.34 EPS for the current year.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honeywell International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HON. Chung Wu Investment Group LLC acquired a new position in shares of Honeywell International during the second quarter valued at $26,000. RMG Wealth Management LLC acquired a new stake in Honeywell International during the 2nd quarter valued at $33,000. Howard Hughes Medical Institute acquired a new stake in shares of Honeywell International during the second quarter worth approximately $33,000. Activest Wealth Management boosted its stake in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after buying an additional 115 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in Honeywell International by 491.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 118 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

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.