In a report released yesterday, Christopher Glynn from Oppenheimer maintained a Hold rating on Honeywell International (HON). The company’s shares closed yesterday at $150.52.
Glynn said:
“We hosted meetings with CFO Greg Lewis, and discussed HON’s long-term margin path, portfolio dynamics/trends, and capital allocation. HON’s resourceful CFO’s experience spans many senior roles in finance and operations at several public companies (at HON since 2006), including leading HON’s digital enterprise for both internal productivity and external commercialization/productivity. Que Dallara now leads HON Connected Enterprise strategy. Against backdrop of steady consistent margin expansion in the past, HON sees standing commitment for 30-50 bps/year with rather indefinite duration. ’19 organic top line reflects short cycle/macro contingency in 2H, and while not too different from 3-5% 1Q outlook, noted (again) near-term trending to high end of range.”
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 6.6% and a 61.0% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Roper Technologies, and Eaton Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Honeywell International with a $164.75 average price target.
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Based on Honeywell International’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $9.73 billion and net profit of $1.72 billion. In comparison, last year the company earned revenue of $10.84 billion and had a GAAP net loss of $2.41 billion.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Linnet Deily, a Director at HON sold 4,234 shares for a total of $629,808.
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