Honeywell International (NASDAQ:HON) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Honeywell International (NASDAQ:HON) released its earnings results on Thursday. The conglomerate reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.08, RTT News reports. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.03 billion. Honeywell International had a net margin of 15.43% and a return on equity of 35.17%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. Honeywell International updated its FY 2024 guidance to 9.800-10.100 EPS and its FY24 guidance to $9.80-10.10 EPS.

Honeywell International Stock Down 1.4 %

NASDAQ HON traded down $2.72 during trading hours on Thursday, reaching $192.07. 1,318,204 shares of the company’s stock were exchanged, compared to its average volume of 2,985,198. The company’s 50-day moving average is $198.35 and its two-hundred day moving average is $196.25. Honeywell International has a one year low of $174.88 and a one year high of $210.87. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.93 and a current ratio of 1.27. The company has a market capitalization of $125.07 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02.

Honeywell International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $1.08 dividend. The ex-dividend date was Thursday, February 29th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.25%. Honeywell International’s dividend payout ratio is 51.00%.

Insider Transactions at Honeywell International

In other news, Director Darius Adamczyk sold 25,500 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.19, for a total value of $5,028,345.00. Following the completion of the sale, the director now owns 183,400 shares of the company’s stock, valued at approximately $36,164,646. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

HON has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of Honeywell International from $210.00 to $209.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $215.00 price objective (down from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. Barclays boosted their price objective on shares of Honeywell International from $230.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Berenberg Bank raised shares of Honeywell International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $240.00 in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Honeywell International currently has an average rating of “Hold” and an average target price of $219.67.

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.