Honeywell International (NASDAQ:HON) Shares Gap Down - Here's Why

Honeywell International Inc. (NASDAQ:HON - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $239.27, but opened at $226.12. Honeywell International shares last traded at $228.01, with a volume of 4,433,462 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HON shares. JPMorgan Chase & Co. lifted their price target on shares of Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays boosted their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Wells Fargo & Company cut their price objective on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a report on Friday. Citigroup boosted their price objective on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada cut their price objective on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a report on Friday. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $252.00.

Honeywell International Trading Down 0.1%

The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 1.81. The stock has a market cap of $144.11 billion, a P/E ratio of 25.51, a PEG ratio of 2.53 and a beta of 1.07. The firm's 50-day simple moving average is $229.41 and its 200 day simple moving average is $216.99.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.01 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. Honeywell International's quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.02%. Honeywell International's dividend payout ratio is presently 51.95%.

Institutional Trading of Honeywell International

Several institutional investors and hedge funds have recently added to or reduced their stakes in HON. Community Bank N.A. lifted its position in Honeywell International by 3.6% in the 2nd quarter. Community Bank N.A. now owns 14,015 shares of the conglomerate's stock worth $3,264,000 after buying an additional 481 shares in the last quarter. NorthRock Partners LLC grew its stake in Honeywell International by 7.3% in the 2nd quarter. NorthRock Partners LLC now owns 9,785 shares of the conglomerate's stock valued at $2,278,000 after buying an additional 665 shares during the last quarter. Delaney Dennis R grew its position in Honeywell International by 27.3% in the 2nd quarter. Delaney Dennis R now owns 1,400 shares of the conglomerate's stock worth $326,000 after purchasing an additional 300 shares during the last quarter. Wealth Architects LLC acquired a new stake in Honeywell International in the 2nd quarter worth $220,000. Finally, Astoria Portfolio Advisors LLC. bought a new position in shares of Honeywell International during the 2nd quarter worth about $208,000. 75.91% of the stock is owned by institutional investors and hedge funds.

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.