Wells Fargo & Company Lowers Honeywell International (NASDAQ:HON) Price Target to $240.00

Honeywell International (NASDAQ:HON) had its price objective reduced by research analysts at Wells Fargo & Company from $254.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the conglomerate’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.83% from the company’s previous close.

A number of other research analysts have also recently issued reports on HON. Baird R W cut Honeywell International from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. lowered their price target on shares of Honeywell International from $235.00 to $233.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Citigroup upped their price objective on Honeywell International from $244.00 to $268.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on Honeywell International from $227.00 to $256.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $248.57.

Honeywell International Stock Performance

HON stock traded up $0.83 on Tuesday, reaching $222.57. 573,875 shares of the company were exchanged, compared to its average volume of 2,257,962. The firm has a market capitalization of $144.73 billion, a PE ratio of 25.70, a PEG ratio of 2.85 and a beta of 1.06. Honeywell International has a 12 month low of $189.66 and a 12 month high of $242.77. The stock’s fifty day moving average price is $225.32 and its 200 day moving average price is $214.06. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 1.12.

Hedge Funds Weigh In On Honeywell International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RIA Advisory Group LLC acquired a new position in shares of Honeywell International during the 3rd quarter worth about $6,124,000. Copley Financial Group Inc. acquired a new position in Honeywell International during the third quarter worth approximately $454,000. EP Wealth Advisors LLC raised its stake in Honeywell International by 4.4% in the second quarter. EP Wealth Advisors LLC now owns 337,380 shares of the conglomerate’s stock valued at $72,044,000 after buying an additional 14,271 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Honeywell International by 2.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 639,341 shares of the conglomerate’s stock worth $132,155,000 after acquiring an additional 12,755 shares during the period. Finally, SteelPeak Wealth LLC increased its holdings in shares of Honeywell International by 255.2% during the 3rd quarter. SteelPeak Wealth LLC now owns 73,529 shares of the conglomerate’s stock worth $15,199,000 after acquiring an additional 52,830 shares during the last quarter. 75.91% of the stock is owned by institutional investors.

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.