Mizuho Lowers Honeywell’s Price Target to $240 Amid Analyst Revisions

Mizuho has reduced its price target for Honeywell International (NASDAQ: HON) from $250.00 to $240.00, as noted in a report released on December 11, 2023. Despite this adjustment, Mizuho maintains an “outperform” rating on the stock of the multinational conglomerate, which specializes in various sectors, including aerospace and building technologies.

Several other financial institutions have also recently adjusted their outlook on Honeywell. The Goldman Sachs Group lowered its price target for the company from $245.00 to $236.00 while continuing to recommend the stock with a “buy” rating. This revision was part of a research report published on December 16, 2023. Similarly, TD Cowen decreased its price objective from $250.00 to $240.00, reiterating a “buy” rating on November 10, 2023.

HSBC has also made significant adjustments, cutting its target from $290.00 to $266.00 and maintaining a “buy” rating as of November 11, 2023. Rothschild & Co Redburn, on the other hand, set a new target of $222.00, down from $240.00, while assigning a “neutral” rating on October 27, 2023. In a similar move, Robert W. Baird revised its price objective down to $220.00 from $250.00, classifying the stock as “neutral” on October 13, 2023.

Overall, the consensus among analysts shows a mixed sentiment towards Honeywell’s stock. Currently, nine research analysts have rated it as a “buy,” while ten have assigned a “hold” rating and one analyst suggests a “sell.” According to data from MarketBeat.com, Honeywell International has an average rating of “hold” and an average target price of $234.15.

Recent Earnings and Future Guidance

Honeywell International recently reported its earnings results on December 11, 2023. The company achieved earnings per share (EPS) of $2.25 for the quarter, with total revenue reaching $8.95 billion. The company’s financial performance included a net margin of 15.07% and a return on equity of 38.11%. Looking ahead, Honeywell has projected its fiscal year 2025 guidance at an EPS range of $10.600 to $10.700 and has set its fourth-quarter 2025 guidance at $2.520 to $2.620.

Analysts expect Honeywell to post an EPS of $10.34 for the current fiscal year, indicating a robust outlook despite recent price target reductions.

Institutional Investor Activity

Recent activity among institutional investors has also been noteworthy. Chung Wu Investment Group LLC acquired a new stake in Honeywell during the second quarter, valued at approximately $26,000. Holos Integrated Wealth LLC followed suit, purchasing shares worth about $25,000 in the fourth quarter. RMG Wealth Management LLC and Howard Hughes Medical Institute also entered the company’s stock, each investing around $33,000.

Activest Wealth Management significantly increased its stake in Honeywell by 425.9% during the second quarter, now holding 142 shares worth approximately $33,000. Currently, institutional investors and hedge funds own 75.91% of Honeywell’s stock, reflecting strong institutional confidence in the company’s long-term prospects.

Honeywell International Inc. is a publicly traded multinational conglomerate that offers a diverse range of products and services across various industries, including aerospace, building technologies, performance materials, and safety solutions. Its vast portfolio includes avionics, propulsion systems, industrial automation software, and personal protective equipment, solidifying its position as a key player in the global market.