Zacks Research Comments on Honeywell International Inc.’s Q3 2023 Earnings (NASDAQ:HON)

Posted by on Apr 24th, 2023

Honeywell International Inc. (NASDAQ:HON – Get Rating) – Stock analysts at Zacks Research lowered their Q3 2023 earnings per share (EPS) estimates for Honeywell International in a report released on Thursday, April 20th. Zacks Research analyst E. Haque now expects that the conglomerate will earn $2.31 per share for the quarter, down from their previous estimate of $2.32. The consensus estimate for Honeywell International’s current full-year earnings is $9.03 per share. Zacks Research also issued estimates for Honeywell International’s Q4 2023 earnings at $2.54 EPS and Q1 2025 earnings at $2.22 EPS.

Honeywell International (NASDAQ:HON – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The conglomerate reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.01. The business had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.26 billion. Honeywell International had a return on equity of 32.89% and a net margin of 14.00%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS.

Other research analysts have also recently issued research reports about the company. Morgan Stanley lifted their target price on Honeywell International from $209.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Wells Fargo & Company reduced their price objective on Honeywell International from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. JPMorgan Chase & Co. increased their target price on Honeywell International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Royal Bank of Canada increased their target price on Honeywell International from $204.00 to $208.00 and gave the company a “sector perform” rating in a report on Wednesday, March 29th. Finally, HSBC increased their price objective on Honeywell International from $190.00 to $205.00 and gave the stock a “hold” rating in a report on Tuesday, February 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $214.44.

Honeywell International Stock Performance

Shares of HON stock opened at $196.08 on Monday. Honeywell International has a 12 month low of $166.63 and a 12 month high of $220.96. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $130.53 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 2.42 and a beta of 1.09. The business’s 50-day moving average price is $190.93 and its 200-day moving average price is $201.94.

Institutional Investors Weigh In On Honeywell International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC increased its position in Honeywell International by 101,603.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,707,601 shares of the conglomerate’s stock worth $1,223,139,000 after buying an additional 5,701,989 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Honeywell International by 107.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,843,135 shares of the conglomerate’s stock valued at $1,037,884,000 after purchasing an additional 2,505,534 shares during the last quarter. Barclays PLC lifted its stake in shares of Honeywell International by 103.3% in the fourth quarter. Barclays PLC now owns 2,164,970 shares of the conglomerate’s stock valued at $463,954,000 after buying an additional 1,100,242 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Honeywell International by 57.9% in the fourth quarter. Neuberger Berman Group LLC now owns 2,023,296 shares of the conglomerate’s stock valued at $433,592,000 after buying an additional 741,605 shares during the period. Finally, Prostatis Group LLC bought a new position in Honeywell International during the fourth quarter worth about $728,000. Institutional investors and hedge funds own 74.30% of the company’s stock.

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were given a $1.03 dividend. The ex-dividend date was Thursday, February 23rd. This represents a $4.12 dividend on an annualized basis and a yield of 2.10%. Honeywell International’s dividend payout ratio (DPR) is 56.67%.

About Honeywell International

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Honeywell International, Inc is a software industrial company, which offers industry specific solutions to aerospace and automotive products and services. It specializes in turbochargers control, sensing and security technologies for buildings and homes, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business, and transportation.

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Earnings History and Estimates for Honeywell International (NASDAQ:HON)

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