Honeywell International (NASDAQ:HON) Reaches New 12-Month High – Still a Buy?

Honeywell International Inc. (NASDAQ:HON)’s stock price reached a new 52-week high on Monday . The stock traded as high as $224.00 and last traded at $223.97, with a volume of 1516661 shares trading hands. The stock had previously closed at $219.49.

Analyst Upgrades and Downgrades

HON has been the topic of several analyst reports. StockNews.com upgraded Honeywell International from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Barclays dropped their price objective on shares of Honeywell International from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley began coverage on shares of Honeywell International in a research note on Friday, September 6th. They issued an “equal weight” rating and a $210.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of Honeywell International from $235.00 to $233.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Robert W. Baird lowered Honeywell International from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $223.00 to $217.00 in a research report on Friday, October 25th. Ten 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, the company presently has a consensus rating of “Hold” and a consensus target price of $223.73.

Honeywell International Stock Performance

The company has a 50 day moving average price of $208.74 and a 200-day moving average price of $206.64. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The company has a market cap of $146.46 billion, a P/E ratio of 25.35, a PEG ratio of 2.57 and a beta of 1.03.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.52 annualized dividend and a dividend yield of 2.01%. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s payout ratio is currently 49.88%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Honeywell International by 22.3% in the 1st 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 acquiring an additional 1,746,759 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Honeywell International by 3.9% in the second 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. Legal & General Group Plc increased its holdings in shares of Honeywell International by 0.9% during the second 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 during the period. Capital Research Global Investors raised its holdings in Honeywell International by 6.7% in the 1st quarter. Capital Research Global Investors now owns 3,402,252 shares of the conglomerate’s stock valued at $698,312,000 after acquiring an additional 212,327 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of Honeywell International by 7.7% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 3,197,717 shares of the conglomerate’s stock worth $661,000,000 after purchasing an additional 228,880 shares in the last quarter. 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.