Honeywell International (NASDAQ:HON) Shares Gap Up – Time to Buy?

Honeywell International Inc. (NASDAQ:HON)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $225.24, but opened at $239.36. Honeywell International shares last traded at $235.61, with a volume of 2,764,513 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays reduced their price objective on Honeywell International from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Bank of America reissued a “neutral” rating and set a $230.00 price target (down from $250.00) on shares of Honeywell International in a research report on Thursday, October 24th. Wolfe Research lowered Honeywell International from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Royal Bank of Canada reduced their price target on Honeywell International from $214.00 to $213.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com raised Honeywell International from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $223.73.

Honeywell International Stock Performance

The business’s fifty day moving average price is $209.09 and its two-hundred day moving average price is $206.87. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.12 and a current ratio of 1.44. The stock has a market capitalization of $149.59 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.61 and a beta of 1.03.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $1.13 per share. This is a boost 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 1.96%. The ex-dividend date of this dividend is Friday, November 15th. Honeywell International’s dividend payout ratio is 52.19%.

Hedge Funds Weigh In On Honeywell International

Hedge funds and other institutional investors have recently made changes to their positions in the company. LGT Group Foundation acquired a new stake in shares of Honeywell International in the first quarter valued at $26,000. Reston Wealth Management LLC purchased a new position in Honeywell International in the third quarter valued at $29,000. Planning Capital Management Corp boosted its holdings in Honeywell International by 96.4% in the third quarter. Planning Capital Management Corp now owns 165 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 81 shares during the period. Financial Connections Group Inc. purchased a new position in Honeywell International in the second quarter valued at $38,000. Finally, Pathway Financial Advisers LLC purchased a new position in Honeywell International in the first quarter valued at $39,000. Hedge funds and other 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.