Traders Sell Shares of Honeywell International (HON) on Strength on Analyst Downgrade

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Investors sold shares of Honeywell International Inc. (NYSE:HON) on strength during trading on Tuesday after Credit Suisse Group lowered their price target on the stock from $165.00 to $158.00. $110.96 million flowed into the stock on the tick-up and $184.39 million flowed out of the stock on the tick-down, for a money net flow of $73.43 million out of the stock. Of all stocks tracked, Honeywell International had the 26th highest net out-flow for the day. Honeywell International traded up $1.90 for the day and closed at $142.96

Other equities research analysts also recently issued reports about the stock. MED began coverage on shares of Honeywell International in a research report on Thursday, July 12th. They issued a “buy” rating and a $166.00 price objective for the company. Citigroup set a $186.00 price objective on shares of Honeywell International and gave the stock a “buy” rating in a research report on Tuesday. Barclays upped their price objective on shares of Honeywell International from $176.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 24th. ValuEngine raised shares of Honeywell International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research raised shares of Honeywell International from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company’s stock. Honeywell International currently has a consensus rating of “Buy” and an average price target of $172.90.

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of Honeywell International by 5.0% during the 3rd quarter. Acadian Asset Management LLC now owns 12,356 shares of the conglomerate’s stock valued at $2,057,000 after buying an additional 583 shares in the last quarter. Bush Odonnell Investment Advisors Inc. purchased a new stake in shares of Honeywell International during the 3rd quarter valued at approximately $1,629,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Honeywell International by 0.8% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 141,294 shares of the conglomerate’s stock valued at $23,511,000 after buying an additional 1,085 shares in the last quarter. TCW Group Inc. purchased a new stake in shares of Honeywell International during the 3rd quarter valued at approximately $1,771,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Honeywell International by 189.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,669 shares of the conglomerate’s stock valued at $444,000 after buying an additional 1,746 shares in the last quarter. 75.05% of the stock is owned by hedge funds and other institutional investors.

The company has a market cap of $108.11 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.49.

Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, October 19th. The conglomerate reported $2.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.04. The company had revenue of $10.76 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Honeywell International had a net margin of 6.13% and a return on equity of 33.69%. Honeywell International’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. On average, analysts forecast that Honeywell International Inc. will post 7.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be paid a dividend of $0.82 per share. This is a boost from Honeywell International’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, November 15th. Honeywell International’s dividend payout ratio is presently 41.91%.

About Honeywell International (NYSE:HON)

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

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