Morgan Stanley Lowers Honeywell International (NYSE:HON) to Equal Weight

Morgan Stanley cut shares of Honeywell International (NYSE:HON) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, Benzinga reports. Morgan Stanley currently has $121.00 target price on the conglomerate’s stock, down from their prior target price of $151.00.

HON has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on shares of Honeywell International from $184.00 to $190.00 and gave the company an overweight rating in a report on Wednesday, January 15th. Daiwa Capital Markets raised shares of Honeywell International from a neutral rating to an outperform rating and set a $129.00 target price on the stock in a report on Sunday. Oppenheimer initiated coverage on shares of Honeywell International in a report on Sunday, February 2nd. They issued a hold rating on the stock. Zacks Investment Research raised shares of Honeywell International from a hold rating to a buy rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Finally, William Blair reaffirmed a hold rating on shares of Honeywell International in a report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $178.93.

HON stock traded up $7.75 during mid-day trading on Monday, hitting $137.40. The stock had a trading volume of 5,599,611 shares, compared to its average volume of 3,982,656. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. Honeywell International has a 52 week low of $101.08 and a 52 week high of $184.06. The firm has a market capitalization of $85.16 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.55 and a beta of 1.06. The firm has a fifty day simple moving average of $159.01 and a 200 day simple moving average of $170.17.

Honeywell International (NYSE:HON) last released its earnings results on Friday, January 31st. The conglomerate reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. Honeywell International had a net margin of 16.73% and a return on equity of 32.21%. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the firm earned $1.91 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts expect that Honeywell International will post 8.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 28th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Thursday, February 27th. Honeywell International’s dividend payout ratio (DPR) is presently 44.12%.

Several institutional investors have recently made changes to their positions in HON. Capital World Investors grew its holdings in Honeywell International by 58.3% during the 4th quarter. Capital World Investors now owns 19,100,608 shares of the conglomerate’s stock worth $3,380,808,000 after acquiring an additional 7,032,228 shares during the last quarter. State Street Corp grew its holdings in Honeywell International by 2.4% during the 4th quarter. State Street Corp now owns 29,784,808 shares of the conglomerate’s stock worth $5,271,911,000 after acquiring an additional 699,644 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in Honeywell International by 110.6% during the 4th quarter. Standard Life Aberdeen plc now owns 1,203,184 shares of the conglomerate’s stock worth $212,964,000 after acquiring an additional 631,916 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Honeywell International by 17.4% during the 4th quarter. Janus Henderson Group PLC now owns 3,721,794 shares of the conglomerate’s stock worth $658,756,000 after acquiring an additional 551,364 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in Honeywell International by 45.2% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,666,414 shares of the conglomerate’s stock worth $294,955,000 after acquiring an additional 518,874 shares during the last quarter. 76.12% of the stock is currently owned by institutional investors.

About Honeywell International

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.

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Analyst Recommendations for Honeywell International (NYSE:HON)

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