Honeywell International (NASDAQ:HON) Price Target Lowered to $220.00 at Jefferies Financial Group

Honeywell International (NASDAQ:HON) had its price target cut by investment analysts at Jefferies Financial Group from $230.00 to $220.00 in a report released on Monday,MarketScreener reports. Jefferies Financial Group’s target price suggests a potential upside of 11.93% from the company’s previous close.

Other analysts have also issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Honeywell International in a report on Wednesday, October 8th. Robert W. Baird cut their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Citigroup increased their price target on shares of Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a research report on Tuesday. Rothschild & Co Redburn cut their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Barclays boosted their price objective on shares of Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $249.63.

Honeywell International Stock Performance

HON stock opened at $196.55 on Monday. Honeywell International has a 1-year low of $179.36 and a 1-year high of $242.77. The business has a 50-day moving average price of $210.65 and a 200 day moving average price of $218.35. The company has a market capitalization of $124.79 billion, a P/E ratio of 20.76, a PEG ratio of 2.73 and a beta of 1.06. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04.

Honeywell International (NASDAQ:HON) last posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business 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. As a group, equities research analysts forecast that Honeywell International will post 10.34 EPS for the current fiscal 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 on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Honeywell International

Several hedge funds have recently made changes to their positions in HON. Vanguard Group Inc. increased its holdings in Honeywell International by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock valued at $13,172,852,000 after buying an additional 447,744 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Honeywell International by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock valued at $3,335,476,000 after acquiring an additional 1,293,137 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Honeywell International by 0.7% in the 2nd 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 purchasing an additional 48,968 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Honeywell International by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock worth $1,278,563,000 after purchasing an additional 505,083 shares during the period. Finally, Invesco Ltd. boosted its position in Honeywell International by 5.4% during the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate’s stock worth $1,179,153,000 after purchasing an additional 283,193 shares in the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

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.