Honeywell International (NASDAQ:HON) Posts Earnings Results, Beats Expectations By $0.08 EPS

Honeywell International (NASDAQ:HON) released its quarterly earnings data on Thursday. The conglomerate reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.08, reports. The firm had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%.

Honeywell International Stock Down 0.5 %

Shares of HON stock opened at $208.00 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91. Honeywell International has a one year low of $174.88 and a one year high of $222.98. The company’s fifty day moving average price is $207.39 and its 200-day moving average price is $205.44. The company has a market capitalization of $135.45 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.45 and a beta of 1.03.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a $1.13 dividend. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, November 15th. Honeywell International’s dividend payout ratio is presently 52.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HON shares. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Citigroup reduced their price objective on Honeywell International from $248.00 to $244.00 and set a “buy” rating for the company in a research report on Friday. Baird R W cut Honeywell International from a “strong-buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley started coverage on Honeywell International in a research note on Friday, September 6th. They set an “equal weight” rating and a $210.00 price target for the company. Finally, Barclays lowered their price objective on shares of Honeywell International from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $223.73.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cornerstone Wealth Group LLC lifted its holdings in Honeywell International by 2.8% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 23,495 shares of the conglomerate’s stock worth $4,857,000 after purchasing an additional 644 shares in the last quarter. Oak Harvest Investment Services grew its holdings in Honeywell International by 29.5% during the 3rd quarter. Oak Harvest Investment Services now owns 45,198 shares of the conglomerate’s stock valued at $9,343,000 after buying an additional 10,300 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Honeywell International by 40.6% during the third quarter. JFS Wealth Advisors LLC now owns 9,533 shares of the conglomerate’s stock valued at $1,971,000 after buying an additional 2,753 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of Honeywell International by 255.2% in the third quarter. SteelPeak Wealth LLC now owns 73,529 shares of the conglomerate’s stock worth $15,199,000 after buying an additional 52,830 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its position in shares of Honeywell International by 1.6% during the third quarter. Diversify Wealth Management LLC now owns 11,817 shares of the conglomerate’s stock worth $2,604,000 after acquiring an additional 187 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.