Royal Bank Of Canada Lowers Honeywell International (NASDAQ:HON) Price Target to $253.00

Key Points

• Honeywell International had its price target reduced from $254.00 to $253.00 by Royal Bank of Canada, indicating a potential upside of 13.59% from its current price.
• Other analysts have raised their price targets, with Mizuho setting a target of $250.00 and Citigroup raising it to $265.00, reflecting positive sentiment towards the stock.
• The company reported $2.75 earnings per share, exceeding analysts' estimates, with a revenue of $10.35 billion for the last quarter, an increase of 8.1% year-over-year.
• Honeywell's stock currently has an average rating of "Moderate Buy" from analysts, with a consensus target price of $252.00.

Honeywell International (NASDAQ:HON - Get Free Report) had its price target reduced by research analysts at Royal Bank Of Canada from $254.00 to $253.00 in a report released on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the conglomerate's stock. Royal Bank Of Canada's target price indicates a potential upside of 12.83% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Mizuho increased their price objective on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Barclays increased their price objective on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Finally, Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a research note on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.00.

Honeywell International Trading Down 0.1%

Shares of NASDAQ:HON traded down $0.24 during midday trading on Friday, reaching $224.24. The company had a trading volume of 5,645,057 shares, compared to its average volume of 3,343,010. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.95 and a current ratio of 1.29. Honeywell International has a 1-year low of $179.36 and a 1-year high of $242.77. The firm has a market cap of $144.11 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. The company has a fifty day simple moving average of $229.41 and a two-hundred day simple moving average of $216.97.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 EPS. Research analysts predict that Honeywell International will post 10.34 earnings per share for the current year.

Institutional Trading of Honeywell International

Several institutional investors have recently modified their holdings of the company. Chung Wu Investment Group LLC bought a new position in shares of Honeywell International during the 2nd quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Honeywell International during the 4th quarter worth approximately $29,000. Pandora Wealth Inc. bought a new position in shares of Honeywell International during the 1st quarter worth approximately $33,000. RMG Wealth Management LLC bought a new position in shares of Honeywell International during the 2nd quarter worth approximately $33,000. Finally, Accredited Wealth Management LLC bought a new position in shares of Honeywell International during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds 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.