Honeywell International Inc. (NASDAQ:HON – Get Free Report) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 6,800,000 shares, an increase of 23.0% from the August 15th total of 5,530,000 shares. Based on an average trading volume of 2,750,000 shares, the short-interest ratio is currently 2.5 days. Approximately 1.1% of the shares of the company are short sold.
Analysts Set New Price Targets
HON has been the subject of several analyst reports. Morgan Stanley started coverage on Honeywell International in a research report on Friday, September 6th. They set an “equal weight” rating and a $210.00 target price for the company. UBS Group raised Honeywell International from a “sell” rating to a “neutral” rating and increased their target price for the company from $175.00 to $215.00 in a research note on Monday, June 10th. StockNews.com cut shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Royal Bank of Canada dropped their target price on shares of Honeywell International from $218.00 to $214.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Finally, Citigroup lifted their price target on Honeywell International from $243.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Honeywell International presently has a consensus rating of “Hold” and an average price target of $223.13.
Get Our Latest Report on Honeywell International
Honeywell International Stock Up 0.3 %
Honeywell International (NASDAQ:HON – Get Free Report) last posted its earnings results on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, beating the consensus estimate of $2.42 by $0.07. The company had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.41 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. On average, analysts forecast that Honeywell International will post 10.11 earnings per share for the current year.
Honeywell International Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a $1.08 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.11%. Honeywell International’s payout ratio is presently 50.06%.
Institutional Trading of Honeywell International
Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of Honeywell International by 22.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,587,718 shares of the conglomerate’s stock valued at $1,967,880,000 after buying an additional 1,746,759 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Honeywell International by 3.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,365,840 shares of the conglomerate’s stock valued at $1,786,449,000 after acquiring an additional 310,807 shares in the last quarter. Northern Trust Corp lifted its position in shares of Honeywell International by 0.3% during the 4th quarter. Northern Trust Corp now owns 6,451,134 shares of the conglomerate’s stock valued at $1,352,867,000 after acquiring an additional 17,591 shares during the period. Legal & General Group Plc grew its holdings in shares of Honeywell International by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 4,910,551 shares of the conglomerate’s stock worth $1,048,600,000 after purchasing an additional 42,305 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of Honeywell International by 6.7% in the first quarter. Capital Research Global Investors now owns 3,402,252 shares of the conglomerate’s stock worth $698,312,000 after purchasing an additional 212,327 shares during the period. Institutional investors and hedge funds 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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