Zacks Research Weighs in on Honeywell International Inc.’s Q2 2024 Earnings (NASDAQ:HON)

Honeywell International Inc. (NASDAQ:HON) – Zacks Research increased their Q2 2024 earnings estimates for shares of Honeywell International in a note issued to investors on Tuesday, June 18th. Zacks Research analyst R. Department now forecasts that the conglomerate will earn $2.35 per share for the quarter, up from their prior forecast of $2.32. The consensus estimate for Honeywell International’s current full-year earnings is $10.24 per share. Zacks Research also issued estimates for Honeywell International’s Q3 2024 earnings at $2.52 EPS, FY2024 earnings at $10.15 EPS, Q2 2025 earnings at $2.52 EPS, Q3 2025 earnings at $2.64 EPS and Q1 2026 earnings at $2.41 EPS.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Thursday, April 25th. The conglomerate reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.08. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.03 billion. Honeywell International had a net margin of 15.52% and a return on equity of 35.88%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.07 earnings per share.

Several other brokerages also recently commented on HON. Royal Bank of Canada lowered their price objective on Honeywell International from $222.00 to $218.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 4th. Citigroup raised their price objective on Honeywell International from $243.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Berenberg Bank upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and upped their target price for the stock from $195.00 to $240.00 in a research note on Wednesday, March 6th. Barclays raised their price target on shares of Honeywell International from $230.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, UBS Group raised shares of Honeywell International from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $175.00 to $215.00 in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.75.

Honeywell International Price Performance

Shares of NASDAQ HON opened at $214.14 on Friday. The stock has a market cap of $139.45 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.26 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.66. Honeywell International has a fifty-two week low of $174.88 and a fifty-two week high of $215.19. The firm’s 50-day simple moving average is $201.24 and its 200 day simple moving average is $200.73.

Honeywell International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, May 16th. Honeywell International’s payout ratio is 50.06%.

Insider Activity

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

Hedge Funds Weigh In On Honeywell International

A number of large investors have recently made changes to their positions in the stock. LGT Group Foundation bought a new position in shares of Honeywell International in the first quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new position in Honeywell International in the 4th quarter valued at $27,000. Scarborough Advisors LLC purchased a new position in shares of Honeywell International during the 4th quarter valued at $27,000. Cordant Inc. bought a new position in shares of Honeywell International in the fourth quarter worth $31,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Honeywell International in the fourth quarter worth $31,000. 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.