Honeywell International Inc. (NYSE:HON) Short Interest Up 12.2% in December

Honeywell International Inc. (NYSE:HON) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 6,510,000 shares, a growth of 12.2% from the December 15th total of 5,800,000 shares. Based on an average daily volume of 2,550,000 shares, the short-interest ratio is currently 2.6 days. Currently, 0.9% of the company’s shares are sold short.

HON stock traded up $1.08 during midday trading on Thursday, hitting $181.81. 507,579 shares of the company’s stock were exchanged, compared to its average volume of 2,111,366. The stock’s fifty day moving average price is $177.14 and its 200-day moving average price is $171.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.32. The company has a market cap of $129.50 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. Honeywell International has a one year low of $137.19 and a one year high of $183.12.

Honeywell International (NYSE:HON) last posted its earnings results on Thursday, October 17th. The conglomerate reported $2.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.07. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $9.12 billion. Honeywell International had a return on equity of 32.01% and a net margin of 17.06%. The company’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. On average, analysts expect that Honeywell International will post 8.14 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Honeywell International by 0.6% in the second quarter. Vanguard Group Inc. now owns 54,098,206 shares of the conglomerate’s stock valued at $9,445,005,000 after purchasing an additional 345,840 shares in the last quarter. BlackRock Inc. increased its position in shares of Honeywell International by 3.7% in the second quarter. BlackRock Inc. now owns 44,949,545 shares of the conglomerate’s stock valued at $7,847,743,000 after acquiring an additional 1,623,768 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Honeywell International by 10,615.4% in the second quarter. Nuveen Asset Management LLC now owns 9,053,437 shares of the conglomerate’s stock valued at $1,580,640,000 after acquiring an additional 8,968,947 shares during the last quarter. Invesco Ltd. increased its position in shares of Honeywell International by 11.7% in the second quarter. Invesco Ltd. now owns 3,707,530 shares of the conglomerate’s stock valued at $647,297,000 after acquiring an additional 389,494 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Honeywell International by 2.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,849,222 shares of the conglomerate’s stock valued at $482,088,000 after acquiring an additional 64,275 shares during the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.

Several research analysts have recently issued reports on the company. Bank of America raised their price target on Honeywell International from $185.00 to $203.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. UBS Group assumed coverage on Honeywell International in a research report on Thursday, December 12th. They issued a “neutral” rating and a $192.00 price target on the stock. Deutsche Bank raised their price target on Honeywell International from $189.00 to $199.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley reduced their target price on Honeywell International from $190.00 to $186.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, William Blair reiterated a “hold” rating on shares of Honeywell International in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $191.42.

Honeywell International Company Profile

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment supplies products, software, and services for aircrafts and vehicles. This 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 connected solutions and data services for the aftermarket, as well as provides wireless connectivity and management and technical services.

Further Reading: Balanced Fund

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