Wells Fargo & Company Lowers Honeywell International (NASDAQ:HON) Price Target to $230.00

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 objective dropped by Wells Fargo & Company from $240.00 to $230.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the conglomerate's stock. Wells Fargo & Company's target price indicates a potential upside of 2.57% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wall Street Zen upgraded Honeywell International from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $226.00 price target on shares of Honeywell International in a research report on Wednesday, June 25th. Citigroup increased their price target on Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Barclays increased their price target on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, Mizuho increased their price target on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $252.00.

Honeywell International Trading Down 0.1%

Shares of Honeywell International stock traded down $0.24 on Friday, reaching $224.24. 5,645,057 shares of the company's stock were exchanged, compared to its average volume of 3,343,010. Honeywell International has a 52 week low of $179.36 and a 52 week high of $242.77. The firm's 50-day moving average is $229.41 and its two-hundred day moving average is $216.97. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.95 and a current ratio of 1.29. The company has a market capitalization of $144.11 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07.

Honeywell International (NASDAQ:HON - Get Free Report) last issued 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. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The company had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.01 billion. During the same period last year, the business earned $2.49 EPS. Honeywell International's quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that Honeywell International will post 10.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in Honeywell International by 9.1% in the fourth quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate's stock valued at $4,302,000 after acquiring an additional 1,582 shares during the period. EntryPoint Capital LLC bought a new position in Honeywell International in the fourth quarter valued at about $248,000. Financial Engines Advisors L.L.C. bought a new position in Honeywell International in the fourth quarter valued at about $777,000. Ausdal Financial Partners Inc. lifted its holdings in Honeywell International by 82.0% in the fourth quarter. Ausdal Financial Partners Inc. now owns 2,202 shares of the conglomerate's stock valued at $497,000 after acquiring an additional 992 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in Honeywell International by 51.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 311 shares of the conglomerate's stock valued at $70,000 after acquiring an additional 105 shares during the period. 75.91% of the stock is owned by institutional investors.

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.