Royal Bank of Canada Cuts Honeywell International (NASDAQ:HON) Price Target to $236.00

Honeywell International (NASDAQ:HON) had its price target reduced by Royal Bank of Canada from $253.00 to $236.00 in a research note released on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the conglomerate’s stock.

Several other analysts also recently commented on the company. Bank of America increased their target price on Honeywell International from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of Honeywell International from a “hold” rating to a “buy” rating and lifted their target price for the stock from $236.00 to $260.00 in a research report on Friday. HSBC raised Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Wednesday, December 11th. Baird R W lowered Honeywell International from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Wolfe Research cut Honeywell International from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $248.86.

Honeywell International Price Performance

HON stock opened at $205.52 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.12 and a current ratio of 1.31. The firm has a 50 day moving average price of $224.52 and a 200-day moving average price of $215.10. Honeywell International has a 52-week low of $189.75 and a 52-week high of $242.77. The firm has a market capitalization of $133.64 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.55 and a beta of 1.05.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.10. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. Equities research analysts forecast that Honeywell International will post 10.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Honeywell International

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Honeywell International by 0.3% in the 3rd quarter. State Street Corp now owns 31,026,897 shares of the conglomerate’s stock worth $6,413,570,000 after buying an additional 92,112 shares in the last quarter. Wellington Management Group LLP grew its position in Honeywell International by 8.4% in the third quarter. Wellington Management Group LLP now owns 17,826,700 shares of the conglomerate’s stock worth $3,684,957,000 after acquiring an additional 1,376,479 shares in the last quarter. Geode Capital Management LLC increased its stake in Honeywell International by 4.0% during the third quarter. Geode Capital Management LLC now owns 14,360,730 shares of the conglomerate’s stock worth $2,959,535,000 after acquiring an additional 547,998 shares during the last quarter. Bank of New York Mellon Corp raised its position in Honeywell International by 10.3% during the fourth quarter. Bank of New York Mellon Corp now owns 6,763,764 shares of the conglomerate’s stock valued at $1,527,867,000 after purchasing an additional 631,761 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Honeywell International by 7.2% in the 3rd quarter. Janus Henderson Group PLC now owns 3,978,872 shares of the conglomerate’s stock worth $822,458,000 after purchasing an additional 265,789 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.