The Goldman Sachs Group Has Lowered Expectations for Honeywell International (NASDAQ:HON) Stock Price

Honeywell International (NASDAQ:HON) had its price target reduced by research analysts at The Goldman Sachs Group from $245.00 to $236.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 19.52% from the company’s current price.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Honeywell International from $265.00 to $264.00 and set a “buy” rating for the company in a research note on Monday, December 8th. Argus reduced their price target on shares of Honeywell International from $250.00 to $225.00 in a report on Friday, November 14th. TD Cowen lowered their price target on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Honeywell International in a research report on Monday, December 1st. Finally, Robert W. Baird reduced their target price 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. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $236.56.

Honeywell International Stock Up 2.0%

NASDAQ:HON opened at $197.45 on Tuesday. 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 $125.36 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.59 and a beta of 0.96. Honeywell International has a one year low of $169.21 and a one year high of $228.04. The stock has a 50-day simple moving average of $199.04 and a 200 day simple moving average of $214.07.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The business had revenue of $8.95 billion during the quarter. 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. Sell-side analysts predict that Honeywell International will post 10.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Honeywell International

Large investors have recently made changes to their positions in the business. BankPlus Wealth Management LLC grew its position in Honeywell International by 2.2% in the second quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate’s stock worth $463,000 after buying an additional 43 shares during the last quarter. Summit Wealth Group LLC lifted its stake in Honeywell International by 4.3% during the second quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate’s stock valued at $260,000 after buying an additional 46 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Honeywell International by 1.8% in the second quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate’s stock worth $628,000 after buying an additional 47 shares during the period. Bar Harbor Wealth Management increased its position in shares of Honeywell International by 0.3% in the second quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate’s stock worth $3,538,000 after acquiring an additional 47 shares in the last quarter. Finally, Nova R Wealth Inc. increased its position in shares of Honeywell International by 3.0% in the third quarter. Nova R Wealth Inc. now owns 1,594 shares of the conglomerate’s stock worth $335,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 75.91% of the company’s stock.

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.