JPMorgan Chase & Co. Downgrades Honeywell International (NASDAQ:HON) to Neutral

Honeywell International (NASDAQ:HON) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat reports. They currently have a $235.00 price objective on the conglomerate’s stock, up from their prior price objective of $225.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 8.80% from the stock’s current price.

HON has been the subject of several other reports. Morgan Stanley began coverage on Honeywell International in a report on Friday, September 6th. They set an “equal weight” rating and a $210.00 target price for the company. Wells Fargo & Company lowered their price target on Honeywell International from $215.00 to $207.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. StockNews.com lowered Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $214.00 price target on shares of Honeywell International in a research report on Thursday, September 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Honeywell International has an average rating of “Hold” and an average price target of $223.56.

Honeywell International Price Performance

Honeywell International stock opened at $215.99 on Thursday. The business has a 50-day simple moving average of $203.51 and a 200 day simple moving average of $204.22. Honeywell International has a 52 week low of $174.88 and a 52 week high of $220.79. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19. The stock has a market cap of $140.65 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.45 and a beta of 1.03.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.07. The firm had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.23 EPS. On average, research analysts forecast that Honeywell International will post 10.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc boosted its stake in shares of Honeywell International by 40.3% in the 4th quarter. Bell Investment Advisors Inc now owns 498 shares of the conglomerate’s stock worth $104,000 after buying an additional 143 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Honeywell International in the fourth quarter worth about $4,436,000. Bradley Foster & Sargent Inc. CT grew its position in Honeywell International by 4.4% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 105,547 shares of the conglomerate’s stock worth $22,134,000 after acquiring an additional 4,451 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Honeywell International during the fourth quarter valued at approximately $33,219,000. Finally, Palogic Value Management L.P. boosted its position in shares of Honeywell International by 13.2% during the fourth quarter. Palogic Value Management L.P. now owns 3,484 shares of the conglomerate’s stock valued at $731,000 after buying an additional 405 shares during the period. Institutional investors own 75.91% of the company’s stock.

About Honeywell International

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.