Honeywell International (NASDAQ:HON) Given New $230.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Honeywell International from $240.00 to $230.00, maintaining an "equal weight" rating.
• Despite the downgrade, analysts suggest a potential upside of 3.27% from the new target price based on the stock's previous close.
• Other analysts have positive outlooks, with Bank of America rating Honeywell a "buy" with a target of $250.00, and Barclays increasing their target from $258.00 to $265.00.
• Honeywell's recent earnings report showed an EPS of $2.75, surpassing expectations and indicating a revenue increase of 8.1% year-over-year.

Honeywell International (NASDAQ:HON - Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $240.00 to $230.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the conglomerate's stock. Wells Fargo & Company's price objective would indicate a potential upside of 3.26% from the company's previous close.

Other research analysts have also issued reports about the company. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price objective on the stock in a research report on Wednesday, May 7th. Barclays boosted their target price on shares of Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Citigroup upped their price objective on shares of Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised their target price on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.00.

Honeywell International Trading Down 1.0%

Shares of Honeywell International stock traded down $2.34 during trading hours on Friday, reaching $222.75. The stock had a trading volume of 1,200,574 shares, compared to its average volume of 4,133,795. The firm has a market capitalization of $143.15 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 2.52 and a beta of 1.07. Honeywell International has a 1 year low of $179.36 and a 1 year high of $242.77. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The firm has a 50 day simple moving average of $229.42 and a two-hundred day simple moving average of $216.99.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 14.30% and a return on equity of 37.37%. The company's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 EPS. As a group, equities research analysts anticipate that Honeywell International will post 10.34 earnings per share for the current year.

Institutional Trading of Honeywell International

Institutional investors have recently added to or reduced their stakes in the business. Capital World Investors acquired a new position in shares of Honeywell International during the fourth quarter valued at $1,594,216,000. Nuveen LLC bought a new stake in Honeywell International in the 1st quarter valued at about $1,150,929,000. GAMMA Investing LLC lifted its position in Honeywell International by 20,894.0% in the 1st quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate's stock valued at $2,809,110,000 after purchasing an additional 1,320,295 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 1,293,137 shares during the period. Finally, Alliancebernstein L.P. grew its position in Honeywell International by 64.6% in the 1st quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate's stock worth $561,634,000 after purchasing an additional 1,041,273 shares during the last quarter. Institutional investors own 75.91% of the company's stock.

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.