Oppenheimer analyst Christopher Glynn maintained a Hold rating on Honeywell International (HON) yesterday. The company’s shares closed on Thursday at $169.06, close to its 52-week high of $169.86.
Glynn observed:
“HON delivered 8% 1Q organic growth/raised the full year to 3-6% (from 2-5%) that compares to a strong 6% ’18 organic result. Comparisons steepen a little in 2H— slightly for Aero, notably for SPS in 4Q, but the overall guidance hedge appears to lean heavily on concept of short-cycle lead times definitionally carrying lower visibility. Sure, but given execution and solid end-market mix, guidance looks conservative. Building Technologies 9% organic growth was a surprise and may attenuate/lacks momentum clarity of Aerospace (and warehouse and parts of PMT), but comparisons are fairly even and sales/capacity focus perhaps unleashed from onerous process of separating the spun “Homes” business. Building Solutions projects had some timing benefit and some execution catch-up, but impressive complexion overall.”
According to TipRanks.com, Glynn is a 4-star analyst with an average return of 6.3% and a 59.4% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Roper Technologies, and Eaton Corporation.
Honeywell International has an analyst consensus of Strong Buy, with a price target consensus of $172.
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Honeywell International’s market cap is currently $123.3B and has a P/E ratio of 18.81. The company has a Price to Book ratio of 6.78.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Linnet Deily, a Director at HON sold 4,234 shares for a total of $629,808.
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