Honeywell International (NASDAQ:HON) Share Price Breaks Below 200-Day Moving Average - Here's Why

Key Points

• Honeywell shares fell below their 200-day moving average, trading as low as $223.35 versus the average of $224.85; the stock was last quoted at $223.45.
• Analysts have a consensus “Hold” rating and an average price target of $249.29, with 12 Buy, 12 Hold, and one Sell rating.
• Honeywell reported quarterly EPS of $2.27, topping estimates, while revenue of $4.99 billion came in slightly below expectations. It also declared a quarterly dividend of $0.70 per share.

Honeywell International Inc. (NASDAQ:HON - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $224.85 and traded as low as $223.35. Honeywell International shares last traded at $223.45, with a volume of 1,524,831 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HON shares. Morgan Stanley upped their price objective on Honeywell International from $245.00 to $250.00 and gave the company an "equal weight" rating in a report on Monday, August 31st. BMO Capital Markets restated an "outperform" rating and set a $261.00 target price on shares of Honeywell International in a report on Friday, October 23rd. Citigroup boosted their target price on Honeywell International from $270.00 to $271.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. Sanford C. Bernstein restated a "market perform" rating and set a $256.00 target price on shares of Honeywell International in a research report on Friday, October 23rd. Finally, Bank of America raised Honeywell International from an "underperform" rating to a "neutral" rating and upped their price target for the company from $205.00 to $265.00 in a research note on Tuesday, July 28th. Twelve analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $249.29.

Honeywell International Stock Down 1.8%

The firm has a market capitalization of $70.91 billion, a P/E ratio of 10.05, a PEG ratio of 1.70 and a beta of 0.86. The firm's 50-day moving average is $213.36 and its 200 day moving average is $224.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 0.96.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The conglomerate reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.10. Honeywell International had a return on equity of 25.62% and a net margin of 24.36%. The company had revenue of $4.99 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. Honeywell International's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Honeywell International Inc. will post 8.44 EPS for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 13th. Honeywell International's dividend payout ratio is currently 32.12%.

Insider Activity at Honeywell International

In related news, VP Su Lu sold 2,943 shares of the firm's stock in a transaction on Monday, October 26th. The shares were sold at an average price of $221.18, for a total value of $650,932.74. Following the completion of the transaction, the vice president directly owned 6,631 shares of the company's stock, valued at approximately $1,466,644.58. This trade represents a 30.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vimal Kapur sold 6,459 shares of the business's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $220.99, for a total transaction of $1,427,374.41. Following the transaction, the chief executive officer owned 4,437 shares in the company, valued at approximately $980,532.63. The trade was a 59.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of Honeywell International

A number of large investors have recently added to or reduced their stakes in HON. Studio Investment Management LLC acquired a new position in shares of Honeywell International during the 2nd quarter worth approximately $2,578,000. Syon Capital LLC bought a new stake in Honeywell International in the 2nd quarter valued at $1,320,000. Azimuth Capital Investment Management LLC bought a new stake in Honeywell International in the 2nd quarter valued at $1,448,000. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in Honeywell International during the 2nd quarter valued at $7,202,000. Finally, Rogco LP acquired a new stake in Honeywell International during the 2nd quarter valued at $640,000. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Company Profile

Honeywell International is a technology and manufacturing company whose products and services support aerospace, buildings, industrial operations and energy applications. Its offerings include aircraft systems and components, building controls and safety technologies, industrial automation and process-control systems, and specialty materials. The company serves commercial and government customers in markets around the world. Its technologies are used in settings ranging from aircraft and commercial buildings to factories, warehouses and energy facilities.

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