BofA Securities slashes price target on Honeywell International Inc. [HON] – find out why.

Honeywell International Inc. [NASDAQ: HON] traded at a low on 10/20/22, posting a -0.91 loss after which it closed the day’ session at $177.64. The company report on October 20, 2022 that HONEYWELL LAUNCHES ENVIRONMENTAL SUSTAINABILITY INDEX SHOWING SUSTAINABILITY LEADERS’ SENTIMENT ON PAST PROGRESS AND FUTURE EXPECTATIONS TOWARDS CORPORATE ENVIRONMENTAL GOALS.

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First multi-industry and multi-regional index points to corporate confidence about past progress, but less optimism about short- and long-term future goals.

Nearly nine out of ten organizations are planning to increase sustainability budgets for the coming twelve months.

The results of the trading session contributed to over 2685156 shares changing hands. Over the past one week, the price volatility of Honeywell International Inc. stands at 2.01% while the volatility over the past one month is 2.45%.

The market cap for HON stock reached $122.00 billion, with 679.00 million shares outstanding and 672.88 million shares in the current float. Compared to the average trading volume of 2.67M shares, HON reached a trading volume of 2685156 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Honeywell International Inc. [HON]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HON shares is $203.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HON stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Honeywell International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 11, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on January 14, 2022, representing the official price target for Honeywell International Inc. stock. Previously, the target price had yet another raise from $229 to $237, while UBS kept a Buy rating on HON stock. On January 04, 2022, analysts decreased their price target for HON shares from 243 to 226.

The Average True Range (ATR) for Honeywell International Inc. is set at 4.59, with the Price to Sales ratio for HON stock in the period of the last 12 months amounting to 3.54. The Price to Book ratio for the last quarter was 6.88, with the Price to Cash per share for the same quarter was set at 12.61. Price to Free Cash Flow for HON in the course of the last twelve months was 111.32 with Quick ratio for the last quarter at 0.90.

How has HON stock performed recently?

Honeywell International Inc. [HON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.05. With this latest performance, HON shares gained by 1.92% in over the last four-week period, additionally sinking by -9.34% over the last 6 months – not to mention a drop of -20.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HON stock in for the last two-week period is set at 50.35, with the RSI for the last a single of trading hit 53.42, and the three-weeks RSI is set at 48.54 for Honeywell International Inc. [HON]. The present Moving Average for the last 50 days of trading for this stock 184.01, while it was recorded at 177.60 for the last single week of trading, and 189.29 for the last 200 days.

Honeywell International Inc. [HON]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Honeywell International Inc. [HON] shares currently have an operating margin of +19.61 and a Gross Margin at +37.14. Honeywell International Inc.’s Net Margin is presently recorded at +16.12.

Return on Equity for this stock inclined to 30.69, with Return on Assets sitting at 8.59.

Honeywell International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

Earnings analysis for Honeywell International Inc. [HON]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HON. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Honeywell International Inc. go to 7.65%.

Insider trade positions for Honeywell International Inc. [HON]

There are presently around $89,546 million, or 75.70% of HON stock, in the hands of institutional investors. The top three institutional holders of HON stocks are: VANGUARD GROUP INC with ownership of 60,230,607, which is approximately 1.195% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 41,068,155 shares of the stock with an approximate value of $7.3 billion in HON stocks shares; and STATE STREET CORP, currently with $5.8 billion in HON stock with ownership of nearly -3.096% of the company’s market capitalization.

Positions in Honeywell International Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 979 institutional holders increased their position in Honeywell International Inc. [NASDAQ:HON] by around 21,564,416 shares. Additionally, 1,034 investors decreased positions by around 23,063,433 shares, while 338 investors held positions by with 459,456,954 shares. The mentioned changes placed institutional holdings at 504,084,803 shares, according to the latest SEC report filing. HON stock had 105 new institutional investments in for a total of 1,741,868 shares, while 149 institutional investors sold positions of 3,163,820 shares during the same period.


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