RBC Capital Believes Honeywell International (NYSE: HON) Won’t Stop Here

By Jason Carr

In a report issued on August 25, Matthew W. McConnell from RBC Capital reiterated a Buy rating on Honeywell International (NYSE: HON), with a price target of $148. The company’s shares closed on Friday at $136.82, close to its 52-week high of $140.21.

According to TipRanks.com, McConnell is a 3-star analyst with an average return of 3.7% and a 62.1% success rate. McConnell covers the Industrial Goods sector, focusing on stocks such as Atkore International Group Inc, Lincoln Electric Holdings, and United Technologies Corp.

Currently, the analyst consensus on Honeywell International is Strong Buy and the average price target is $148.38, representing an 8.4% upside.

In a report issued on August 22, Jefferies also reiterated a Buy rating on the stock with a $155 price target.

Based on Honeywell International’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $10.08 billion and quarterly net profit of $1.39 billion. In comparison, last year the company earned revenue of $9.99 billion and had a net profit of $1.28 billion.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock.

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