Honeywell International (NASDAQ:HON) Price Target Raised to $270.00 at Barclays

Key Points

• Barclays has raised its price target for Honeywell International from $265 to $270, indicating a potential upside of 24.35% from the current stock price.
• Despite the positive news from Barclays, Honeywell's stock is down 1.6% during midday trading, currently priced at $217.12.
• The company has a consensus rating of "Moderate Buy", with one analyst rating it as a Strong Buy and several giving it buy or hold ratings.

Honeywell International (NASDAQ:HON - Get Free Report) had its price objective boosted by research analysts at Barclays from $265.00 to $270.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the conglomerate's stock. Barclays's price objective points to a potential upside of 24.35% from the company's current price.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Honeywell International in a research report on Wednesday, October 8th. Jefferies Financial Group cut their price target on Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company increased their price target on Honeywell International from $220.00 to $230.00 in a report on Friday. Royal Bank Of Canada cut their target price on Honeywell International from $253.00 to $235.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Morgan Stanley lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Honeywell International has a consensus rating of "Moderate Buy" and an average target price of $251.60.

Honeywell International Stock Down 1.6%

NASDAQ:HON traded down $3.55 during mid-day trading on Friday, hitting $217.12. 377,824 shares of the company's stock traded hands, compared to its average volume of 4,092,752. The company has a fifty day moving average of $212.05 and a 200 day moving average of $217.19. Honeywell International has a twelve month low of $179.36 and a twelve month high of $242.77. The company has a market capitalization of $137.85 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.56 and a beta of 1.06. 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 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. On average, analysts forecast that Honeywell International will post 10.34 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. BankPlus Wealth Management LLC raised its position in Honeywell International by 2.2% in the second quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate's stock valued at $463,000 after purchasing an additional 43 shares during the period. Summit Wealth Group LLC raised its position in Honeywell International by 4.3% in the second quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate's stock valued at $260,000 after purchasing an additional 46 shares during the period. Maia Wealth LLC raised its position in Honeywell International by 4.1% in the first quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock valued at $238,000 after purchasing an additional 47 shares during the period. Capital Advisors Ltd. LLC raised its position in Honeywell International by 1.8% in the second quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate's stock valued at $628,000 after purchasing an additional 47 shares during the period. Finally, Bar Harbor Wealth Management raised its position in Honeywell International by 0.3% in the second quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate's stock valued at $3,538,000 after purchasing an additional 47 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.

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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