Honeywell International (NASDAQ:HON) Price Target Raised to $267.00 at Citigroup

Key Points

• Citigroup has raised its price target for Honeywell International from $265.00 to $267.00, maintaining a "buy" rating on the stock, indicating a potential upside of 21.56% from the previous close.
• Several analysts have given mixed price targets for Honeywell, with Deutsche Bank raising theirs to $271.00, while Jefferies lowered their target to $230.00, reflecting divergent outlooks among investment firms.
• Honeywell International reported a revenue of $8.95 billion for the most recent quarter and has projected Q4 2023 earnings per share guidance of between 2.530 and 2.630.

Honeywell International (NASDAQ:HON - Get Free Report) had its price target hoisted by analysts at Citigroup from $265.00 to $267.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage presently has a "buy" rating on the conglomerate's stock. Citigroup's price objective would suggest a potential upside of 21.56% from the stock's previous close.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group lowered their price target on Honeywell International from $240.00 to $230.00 and set a "hold" rating on the stock in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. TD Cowen reduced their price objective on Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Wells Fargo & Company upped their target price on shares of Honeywell International from $220.00 to $230.00 in a research report on Friday. Finally, Barclays upped their target price on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Honeywell International presently has an average rating of "Moderate Buy" and an average price target of $251.27.

Honeywell International Stock Down 0.5%

NASDAQ:HON opened at $219.65 on Friday. The firm has a market capitalization of $139.46 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.56 and a beta of 1.06. 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 business's fifty day moving average price is $212.05 and its 200 day moving average price is $217.19. Honeywell International has a 1-year low of $179.36 and a 1-year high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, sell-side analysts forecast that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Insider Activity at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the sale, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honeywell International

Institutional investors have recently bought and sold shares of the business. Chung Wu Investment Group LLC acquired a new position in shares of Honeywell International in the second quarter valued at $26,000. Barnes Dennig Private Wealth Management LLC grew its stake in 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 buying an additional 118 shares during the last quarter. Pandora Wealth Inc. acquired a new position in Honeywell International in the 1st quarter valued at about $33,000. RMG Wealth Management LLC acquired a new position in Honeywell International in the 2nd quarter valued at about $33,000. Finally, Activest Wealth Management grew its position in shares of Honeywell International by 425.9% in 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 during the last quarter. Institutional investors and hedge funds 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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