Honeywell International (NASDAQ:HON) Price Target Raised to $218.00

Key Points

• JPMorgan Chase & Co. has raised Honeywell International's price target from $212.00 to $218.00, indicating a potential downside of 1.21% from the current stock price.
• Other analysts have offered varying price targets, with Morgan Stanley raising theirs to $245.00 and Deutsche Bank increasing it to $271.00, while TD Cowen and Wells Fargo reduced their targets.
• The consensus rating for Honeywell International is a "Moderate Buy" with an average target price of $252.07 according to MarketBeat.

Honeywell International (NASDAQ:HON - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $212.00 to $218.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the conglomerate's stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 1.21% from the stock's current price.

A number of other analysts have also recently commented on HON. Morgan Stanley upped their price target on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Honeywell International from $268.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. TD Cowen decreased their target price on Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company lowered their price target on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Honeywell International has a consensus rating of "Moderate Buy" and a consensus target price of $252.07.

Honeywell International Price Performance

HON opened at $220.67 on Friday. The company has a fifty day moving average price of $212.05 and a two-hundred day moving average price of $217.19. The firm has a market capitalization of $140.10 billion, a PE ratio of 25.10, a P/E/G ratio of 2.56 and a beta of 1.06. Honeywell International has a 52 week low of $179.36 and a 52 week high of $242.77. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. 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, analysts anticipate that Honeywell International will post 10.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Lucian Boldea sold 42,149 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares of the company's stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honeywell International

Several hedge funds have recently modified their holdings of HON. Chung Wu Investment Group LLC bought a new position in Honeywell International in the second quarter valued at approximately $26,000. Barnes Dennig Private Wealth Management LLC lifted its position in Honeywell International by 491.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate's stock worth $30,000 after acquiring an additional 118 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Honeywell International in the 1st quarter valued at $33,000. RMG Wealth Management LLC acquired a new position in shares of Honeywell International in the second quarter valued at about $33,000. Finally, Activest Wealth Management grew its position in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate's stock worth $33,000 after purchasing an additional 115 shares in 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.

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