Honeywell International (NASDAQ:HON) Announces Earnings Results, Beats Estimates By $0.07 EPS

Honeywell International (NASDAQ:HON) released its quarterly earnings results on Thursday. The conglomerate reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07, Briefing.com reports. The business had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a return on equity of 35.88% and a net margin of 15.52%. Honeywell International’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.23 EPS. Honeywell International updated its FY24 guidance to $10.05-10.25 EPS.

Honeywell International Stock Performance

HON traded up $0.29 during mid-day trading on Friday, reaching $202.74. 7,452,368 shares of the company traded hands, compared to its average volume of 2,906,843. The stock has a market capitalization of $132.02 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.21 and a beta of 1.04. 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 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average price is $210.02 and its 200-day moving average price is $202.53.

Honeywell International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.13%. Honeywell International’s dividend payout ratio is currently 50.06%.

Analysts Set New Price Targets

HON has been the topic of several research analyst reports. Daiwa America upgraded shares of Honeywell International to a “moderate buy” rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $215.00 target price (down previously from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. StockNews.com upgraded Honeywell International from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Wells Fargo & Company decreased their price objective on Honeywell International from $220.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday. Finally, UBS Group upgraded shares of Honeywell International from a “sell” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $215.00 in a report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $224.50.

Insider Buying and Selling

In other news, CFO Gregory P. Lewis sold 25,209 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $193.06, for a total transaction of $4,866,849.54. Following the completion of the sale, the chief financial officer now owns 55,471 shares of the company’s stock, valued at approximately $10,709,231.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Gregory P. Lewis sold 25,209 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $193.06, for a total transaction of $4,866,849.54. Following the completion of the sale, the chief financial officer now owns 55,471 shares of the company’s stock, valued at approximately $10,709,231.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Darius Adamczyk sold 28,500 shares of Honeywell International stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $203.96, for a total value of $5,812,860.00. Following the transaction, the director now owns 203,510 shares in the company, valued at $41,507,899.60. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

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.