Baird R W Downgrades Honeywell International (NASDAQ:HON) to Hold

Honeywell International (NASDAQ:HON - Get Free Report) was downgraded by Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued on Friday, Zacks.com reports.

A number of other brokerages have also recently weighed in on HON. StockNews.com cut shares of Honeywell International from a "buy" rating to a "hold" rating in a research note on Friday, August 30th. Citigroup dropped their price objective on shares of Honeywell International from $248.00 to $244.00 and set a "buy" rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped 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 note on Friday. Barclays dropped their price objective on shares of Honeywell International from $232.00 to $229.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Bank of America restated a "neutral" rating and set a $230.00 target price (down previously from $250.00) on shares of Honeywell International in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $223.73.

Honeywell International Price Performance

Honeywell International stock traded down $1.10 during mid-day trading on Friday, reaching $208.00. The company had a trading volume of 6,088,157 shares, compared to its average volume of 2,908,814. Honeywell International has a 1 year low of $174.88 and a 1 year high of $222.98. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91. The company has a market capitalization of $135.45 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.45 and a beta of 1.03. The stock's 50-day simple moving average is $207.39 and its 200-day simple moving average is $205.44.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.08. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The company had revenue of $9.73 billion during the quarter, compared to analysts' expectations of $9.90 billion. On average, equities analysts predict that Honeywell International will post 10.1 EPS for the current year.

Institutional Trading of Honeywell International

Several institutional investors have recently made changes to their positions in the stock. Cornerstone Wealth Group LLC grew its stake in shares of Honeywell International by 2.8% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 23,495 shares of the conglomerate's stock valued at $4,857,000 after buying an additional 644 shares during the period. Oak Harvest Investment Services boosted its position in Honeywell International by 29.5% during the 3rd quarter. Oak Harvest Investment Services now owns 45,198 shares of the conglomerate's stock worth $9,343,000 after purchasing an additional 10,300 shares during the period. JFS Wealth Advisors LLC boosted its position in Honeywell International by 40.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 9,533 shares of the conglomerate's stock worth $1,971,000 after purchasing an additional 2,753 shares during the period. SteelPeak Wealth LLC boosted its position in 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 purchasing an additional 52,830 shares during the period. Finally, Diversify Wealth Management LLC boosted its position in Honeywell International by 1.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 11,817 shares of the conglomerate's stock worth $2,604,000 after purchasing an additional 187 shares during the period. 75.91% of the stock is owned by hedge funds and other 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.