The Goldman Sachs Group Cuts Honeywell International (NASDAQ:HON) Price Target to $236.00

Honeywell International (NASDAQ:HON) had its price target lowered by The Goldman Sachs Group from $245.00 to $236.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a buy rating on the conglomerate’s stock.

HON has been the topic of several other research reports. Barclays lowered their price target on Honeywell International from $270.00 to $269.00 and set an “overweight” rating on the stock in a report on Thursday, December 4th. Citigroup upped their price objective on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. TD Cowen dropped their target price on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Robert W. Baird cut 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 report on Monday, October 13th. Finally, Wells Fargo & Company decreased their price target 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, November 14th. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $236.56.

Honeywell International Trading Down 0.9%

Shares of NASDAQ:HON opened at $198.08 on Tuesday. 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 stock has a market capitalization of $125.76 billion, a PE ratio of 20.87, a P/E/G ratio of 2.67 and a beta of 0.96. Honeywell International has a 1 year low of $169.21 and a 1 year high of $228.04. The firm has a fifty day moving average price of $198.50 and a 200 day moving average price of $213.67.

Honeywell International (NASDAQ:HON) last posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The company had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.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. Analysts expect that Honeywell International will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, November 14th. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is 50.16%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chung Wu Investment Group LLC bought a new position in shares of Honeywell International during the 2nd quarter worth about $26,000. RMG Wealth Management LLC bought a new position in Honeywell International during the second quarter worth about $33,000. Howard Hughes Medical Institute bought a new position in Honeywell International during the second quarter worth about $33,000. Activest Wealth Management boosted its holdings in Honeywell International by 425.9% during the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in shares of Honeywell International by 491.7% in the 3rd 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 during the period. 75.91% of the stock is 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.