Robert W. Baird Cuts Honeywell International (NASDAQ:HON) Price Target to $220.00

Key Points

• Robert W. Baird has decreased its price target for Honeywell International from $250.00 to $220.00, maintaining a "neutral" rating, which reflects a potential upside of 8.89% from the current stock price.
• Several other firms have also adjusted their price targets for Honeywell, with Wells Fargo lowering it to $220.00 and Jefferies dropping it to $230.00, while Barclays raised theirs to $265.00.
• Honeywell's stock is currently trading around $202.03, with a market capitalization of $128.27 billion and an average price target from analysts of $252.00, indicating a consensus rating of "Moderate Buy."

Honeywell International (NASDAQ:HON - Get Free Report) had its price target reduced by analysts at Robert W. Baird from $250.00 to $220.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a "neutral" rating on the conglomerate's stock. Robert W. Baird's target price points to a potential upside of 8.89% from the stock's current price.

Several other equities analysts have also commented on the stock. Wells Fargo & Company reduced their target price on shares of Honeywell International from $230.00 to $220.00 and set an "equal weight" rating on the stock in a report on Monday, October 6th. Jefferies Financial Group dropped their price objective on Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a research note on Tuesday, October 7th. Barclays upped their price target on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Royal Bank Of Canada decreased 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 research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Honeywell International presently has a consensus rating of "Moderate Buy" and an average price target of $252.00.

Honeywell International Stock Down 0.4%

HON opened at $202.03 on Monday. The company has a fifty day moving average price of $213.75 and a 200-day moving average price of $217.20. Honeywell International has a one year low of $179.36 and a one year high of $242.77. The firm has a market capitalization of $128.27 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.25 and a beta of 1.06. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The business had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Equities research analysts expect that Honeywell International will post 10.34 earnings per share for the current fiscal year.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the company's 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 owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Honeywell International

A number of hedge funds have recently bought and sold shares of the company. BankPlus Wealth Management LLC boosted its position in shares of Honeywell International by 2.2% during the second quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate's stock valued at $463,000 after buying an additional 43 shares during the last quarter. Summit Wealth Group LLC grew its position in shares of Honeywell International by 4.3% during the 2nd quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate's stock valued at $260,000 after acquiring an additional 46 shares during the period. Maia Wealth LLC raised its holdings in Honeywell International by 4.1% in the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock worth $238,000 after purchasing an additional 47 shares during the period. Capital Advisors Ltd. LLC lifted its position in Honeywell International by 1.8% during 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 in the last quarter. Finally, Bar Harbor Wealth Management grew its holdings in Honeywell International by 0.3% during 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. Institutional investors own 75.91% of the company's stock.

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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