JPMorgan Chase & Co. Issues Pessimistic Forecast for Honeywell International (NASDAQ:HON) Stock Price

Key Points

• JPMorgan Chase & Co. has reduced its price target for Honeywell International from $222.00 to $212.00, maintaining a "neutral" rating, suggesting a potential upside of 1.63% from the previous close.
• Several brokerages have recently adjusted their price targets for Honeywell, with TD Cowen cutting theirs to $250.00, while Barclays raised theirs to $265.00, with an overall average target price now at $251.67.
• The company's stock has seen significant insider trading activity, with CEO Lucian Boldea selling 42,149 shares at an average price of $221.58, significantly decreasing his ownership in the company.

Honeywell International (NASDAQ:HON - Get Free Report) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $222.00 to $212.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the conglomerate's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 1.63% from the company's previous close.

Several other brokerages also recently weighed in on HON. TD Cowen cut their price target on Honeywell International from $260.00 to $250.00 in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Honeywell International in a report on Wednesday, October 8th. Barclays raised their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their price objective on shares of Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Honeywell International from $230.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $251.67.

Honeywell International Price Performance

Shares of NASDAQ:HON opened at $208.61 on Wednesday. Honeywell International has a twelve month low of $179.36 and a twelve month high of $242.77. The company's 50 day moving average is $213.50 and its 200 day moving average is $217.14. 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 company has a market cap of $132.45 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06.

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

Insider Transactions at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction that occurred on Wednesday, August 27th. The stock was 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 of the company's stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Honeywell International

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Honeywell International by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate's stock valued at $13,172,852,000 after purchasing an additional 447,744 shares during the last quarter. Wellington Management Group LLP lifted its position in Honeywell International by 8.9% in the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate's stock valued at $3,335,476,000 after buying an additional 1,293,137 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Honeywell International by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate's stock valued at $1,578,344,000 after buying an additional 48,968 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Honeywell International by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate's stock valued at $1,278,563,000 after buying an additional 505,083 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Honeywell International by 5.4% in the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate's stock valued at $1,179,153,000 after buying an additional 283,193 shares during the last quarter. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Company Profile

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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