Honeywell International (NASDAQ:HON) Sets New 52-Week Low – Here’s Why

Honeywell International Inc. (NASDAQ:HON)’s stock price hit a new 52-week low on Monday . The stock traded as low as $183.39 and last traded at $189.94, with a volume of 1308863 shares traded. The stock had previously closed at $190.99.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Honeywell International from $233.00 to $231.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Citigroup decreased their target price on shares of Honeywell International from $268.00 to $266.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company cut their price target on Honeywell International from $240.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. HSBC raised Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised their target price on Honeywell International from $220.00 to $260.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $249.08.

Honeywell International Stock Performance

The stock has a market cap of $121.83 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 2.51 and a beta of 1.01. The firm’s 50-day moving average is $211.63 and its two-hundred day moving average is $217.21. The company has a current ratio of 1.31, a quick ratio of 1.01 and a debt-to-equity ratio of 1.33.

Honeywell International (NASDAQ:HON) last announced its earnings results on Thursday, February 6th. The conglomerate reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.10. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. As a group, sell-side analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, February 28th. Honeywell International’s dividend payout ratio (DPR) is 51.89%.

Insider Buying and Selling

In other Honeywell International news, VP Anne T. Madden sold 28,885 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $207.89, for a total transaction of $6,004,902.65. Following the transaction, the vice president now owns 41,580 shares of the company’s stock, valued at approximately $8,644,066.20. The trade was a 40.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HON. Vanguard Group Inc. increased its position in shares of Honeywell International by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 61,761,711 shares of the conglomerate’s stock worth $13,951,353,000 after purchasing an additional 380,299 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Honeywell International by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 14,988,152 shares of the conglomerate’s stock valued at $3,379,568,000 after acquiring an additional 627,422 shares during the last quarter. Capital World Investors purchased a new stake in shares of Honeywell International in the 4th quarter valued at approximately $1,594,216,000. Bank of New York Mellon Corp lifted its holdings in shares of Honeywell International by 10.3% in the 4th quarter. Bank of New York Mellon Corp now owns 6,763,764 shares of the conglomerate’s stock worth $1,527,867,000 after acquiring an additional 631,761 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Honeywell International by 5.5% in the 4th quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate’s stock valued at $1,500,141,000 after purchasing an additional 346,190 shares during the last quarter. Institutional investors and hedge funds 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.