Honeywell International (NASDAQ:HON) Shares Gap Up on Better-Than-Expected Earnings

Shares of Honeywell International Inc. (NASDAQ:HON - Get Free Report) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $200.66, but opened at $207.45. Honeywell International shares last traded at $209.13, with a volume of 640,462 shares.

The conglomerate reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.30. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.59 billion. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The company's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 earnings per share.

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, May 16th. Honeywell International's payout ratio is 51.95%.

Analysts Set New Price Targets

Several research firms recently issued reports on HON. Royal Bank of Canada boosted their price target on Honeywell International from $211.00 to $226.00 and gave the company a "sector perform" rating in a research note on Wednesday. Citigroup decreased their price target on shares of Honeywell International from $253.00 to $229.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays dropped their price objective on shares of Honeywell International from $247.00 to $243.00 and set an "overweight" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Honeywell International from $205.00 to $178.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price target on shares of Honeywell International from $210.00 to $217.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Honeywell International presently has an average rating of "Hold" and an average price target of $241.46.

Insider Activity at Honeywell International

In related news, VP Anne T. Madden sold 28,885 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $207.89, for a total value of $6,004,902.65. Following the completion of the transaction, the vice president now owns 41,580 shares in the company, valued at $8,644,066.20. This trade represents a 40.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Honeywell International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors acquired a new stake in Honeywell International in the fourth quarter valued at $1,594,216,000. Raymond James Financial Inc. acquired a new stake in shares of Honeywell International in the fourth quarter valued at about $435,786,000. ING Groep NV raised its position in shares of Honeywell International by 884.0% during the fourth quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate's stock worth $395,866,000 after acquiring an additional 1,574,376 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Honeywell International by 20,894.0% in the first quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate's stock worth $2,809,110,000 after acquiring an additional 1,320,295 shares during the period. Finally, Cibc World Markets Corp boosted its holdings in Honeywell International by 411.8% in the fourth quarter. Cibc World Markets Corp now owns 1,265,358 shares of the conglomerate's stock valued at $285,832,000 after acquiring an additional 1,018,099 shares during the last quarter. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Price Performance

The firm has a market cap of $135.56 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 2.51 and a beta of 1.01. The company has a current ratio of 1.31, a quick ratio of 1.01 and a debt-to-equity ratio of 1.33. The business's 50-day simple moving average is $205.02 and its two-hundred day simple moving average is $215.61.

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.