Honeywell International (NASDAQ:HON) Releases Earnings Results, Beats Expectations By $0.05 EPS

Honeywell International (NASDAQ:HON – Get Rating) announced its quarterly earnings results on Friday. The conglomerate reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05, MarketWatch Earnings reports. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Honeywell International had a return on equity of 30.52% and a net margin of 16.11%. Honeywell International’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. Honeywell International updated its FY22 guidance to $8.50-$8.80 EPS.

HON opened at $193.51 on Friday. The stock’s 50-day moving average price is $193.36 and its 200 day moving average price is $198.56. Honeywell International has a 12-month low of $174.42 and a 12-month high of $236.86. The company has a current ratio of 1.30, a quick ratio of 1.04 and a debt-to-equity ratio of 0.74. The firm has a market cap of $132.65 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.26 and a beta of 1.13.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 13th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, May 12th. Honeywell International’s payout ratio is 49.49%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC lifted its stake in Honeywell International by 0.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 8,591 shares of the conglomerate’s stock worth $1,791,000 after acquiring an additional 66 shares in the last quarter. Keudell Morrison Wealth Management increased its holdings in Honeywell International by 10.4% during the 3rd quarter. Keudell Morrison Wealth Management now owns 1,598 shares of the conglomerate’s stock worth $339,000 after purchasing an additional 150 shares during the period. Monolith Advisors purchased a new stake in Honeywell International during the 4th quarter worth about $40,000. SkyView Investment Advisors LLC purchased a new stake in Honeywell International during the 4th quarter worth about $41,000. Finally, Integrated Wealth Concepts LLC increased its holdings in Honeywell International by 4.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 14,455 shares of the conglomerate’s stock worth $3,014,000 after purchasing an additional 644 shares during the period. 74.61% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on HON shares. Wells Fargo & Company reduced their price target on Honeywell International from $216.00 to $205.00 and set an “equal weight” rating for the company in a research report on Monday, February 7th. JPMorgan Chase & Co. dropped their price target on Honeywell International from $265.00 to $235.00 in a research report on Friday, February 4th. Berenberg Bank initiated coverage on Honeywell International in a research report on Friday, January 14th. They set a “hold” rating and a $230.00 price target for the company. Mizuho lowered their price objective on Honeywell International from $245.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, February 4th. Finally, Citigroup decreased their price target on Honeywell International from $264.00 to $248.00 in a research note on Friday, February 4th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Honeywell International has a consensus rating of “Hold” and an average price target of $228.43.

About Honeywell International (Get Rating)

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its 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; thermal systems, as well as wireless connectivity and management services.

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