Honeywell International (NASDAQ:HON) Price Target Cut to $225.00 by Analysts at Argus

Honeywell International (NASDAQ:HON) had its target price decreased by Argus from $250.00 to $225.00 in a report released on Friday,MarketScreener reports. Argus’ price objective would indicate a potential upside of 13.04% from the company’s current price.

Several other research analysts have also issued reports on HON. Citigroup upped their target price 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. HSBC lowered their price target on shares of Honeywell International from $290.00 to $266.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen decreased their price objective on Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft reduced their price target on Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Honeywell International currently has an average rating of “Moderate Buy” and an average target price of $242.19.

Honeywell International Stock Performance

Shares of HON opened at $199.04 on Friday. 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 stock has a market capitalization of $126.37 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. Honeywell International has a 52-week low of $169.21 and a 52-week high of $228.04. The stock’s 50-day simple moving average is $206.96 and its 200 day simple moving average is $218.05.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The firm had revenue of $8.95 billion during 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. FY 2023 guidance at 9.100-9.200 EPS. Research analysts forecast that Honeywell International will post 10.34 EPS for the current fiscal year.

Insider Buying and Selling at Honeywell International

In related 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 transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Honeywell International by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock valued at $13,172,852,000 after purchasing an additional 447,744 shares during the last quarter. Wellington Management Group LLP lifted its position in Honeywell International by 8.9% in 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 last quarter. Franklin Resources Inc. boosted its stake in Honeywell International by 28.8% during the third quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate’s stock worth $2,146,372,000 after buying an additional 2,277,234 shares during the period. Bank of New York Mellon Corp increased its position in Honeywell International by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock valued at $1,578,344,000 after acquiring an additional 48,968 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Honeywell International by 11.0% in the third quarter. Invesco Ltd. now owns 6,115,954 shares of the conglomerate’s stock valued at $1,287,408,000 after acquiring an additional 605,600 shares during the period. 75.91% of the stock is currently owned by 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.