Honeywell International (NASDAQ:HON) Shares Gap Up – Should You Buy?

Honeywell International Inc. (NASDAQ:HON) gapped up prior to trading on Tuesday . The stock had previously closed at $203.33, but opened at $208.69. Honeywell International shares last traded at $204.47, with a volume of 665,822 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HON shares. Wells Fargo & Company lowered their target price on Honeywell International from $215.00 to $207.00 and set an “equal weight” rating for the company in a report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $214.00 price objective on shares of Honeywell International in a research report on Thursday, September 26th. Morgan Stanley started coverage on shares of Honeywell International in a research report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 target price for the company. UBS Group upgraded shares of Honeywell International from a “sell” rating to a “neutral” rating and lifted their price target for the company from $175.00 to $215.00 in a research note on Monday, June 10th. Finally, StockNews.com downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Honeywell International has a consensus rating of “Hold” and an average price target of $222.13.

Honeywell International Trading Up 1.4 %

The business’s 50 day simple moving average is $202.82 and its 200 day simple moving average is $203.92. The stock has a market cap of $134.21 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.32 and a beta of 1.03. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The business had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the business posted $2.23 EPS. Honeywell International’s revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Honeywell International Inc. will post 10.11 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.13 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, November 15th. Honeywell International’s payout ratio is currently 52.38%.

Institutional Investors Weigh In On Honeywell International

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings 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 purchasing an additional 1,746,759 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Honeywell International by 3.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,365,840 shares of the conglomerate’s stock worth $1,786,449,000 after buying an additional 310,807 shares during the period. Legal & General Group Plc grew its stake in Honeywell International by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 4,910,551 shares of the conglomerate’s stock valued at $1,048,600,000 after buying an additional 42,305 shares during the last quarter. 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 during the period. Finally, Dimensional Fund Advisors LP lifted its position in Honeywell International by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,950,562 shares of the conglomerate’s stock worth $630,086,000 after acquiring an additional 325,272 shares during the last quarter. Institutional investors 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.