Could Honeywell International Inc. (HON) See a Reversal After Breaking Its 52-Week High?

June 19, 2017 - By Vivian Currie

Investors sentiment increased to 1.03 in Q4 2016. Its up 0.01, from 1.02 in 2016Q3. It improved, as 61 investors sold Honeywell International Inc. shares while 468 reduced holdings. 105 funds opened positions while 439 raised stakes. 559.71 million shares or 0.04% less from 559.95 million shares in 2016Q3 were reported.
Scotia Cap reported 99,158 shares. Tradewinds Capital Management Ltd Company, Washington-based fund reported 13,152 shares. Suntrust Banks holds 0.22% of its portfolio in Honeywell International Inc. (NYSE:HON) for 320,186 shares. Fjarde Ap stated it has 154,308 shares. 410,000 are owned by State Of New Jersey Common Pension Fund D. Marshwinds Advisory Commerce stated it has 0.62% in Honeywell International Inc. (NYSE:HON). Mitchell Cap Management Company invested in 2.92% or 66,503 shares. Seabridge Ltd Limited Liability Company invested in 27,298 shares. Utd Asset Strategies Inc invested 0.07% in Honeywell International Inc. (NYSE:HON). Guinness Asset Mgmt Limited stated it has 50 shares or 0% of all its holdings. Needham Investment Mgmt Limited Liability Corporation invested in 0.98% or 33,000 shares. Bancorpsouth invested in 15,916 shares or 0.2% of the stock. Hallmark Cap Management, a New Jersey-based fund reported 131,744 shares. 117,190 are held by National Insurance Tx. The Illinois-based Front Barnett Assocs Ltd Liability Company has invested 0.19% in Honeywell International Inc. (NYSE:HON).

Since December 22, 2016, it had 0 buys, and 7 insider sales for $149.05 million activity. 969,650 shares were sold by COTE DAVID M, worth $126.81M on Friday, February 10. Adams Katherine L. also sold $15.28 million worth of Honeywell International Inc. (NYSE:HON) on Monday, May 22. 6,535 shares were sold by DAVIS D SCOTT, worth $855,889. Shares for $451,765 were sold by SHEARES BRADLEY T on Friday, May 19. Deily Linnet F had sold 1,690 shares worth $197,291 on Thursday, December 22. Mak Jennifer H also sold $726,659 worth of Honeywell International Inc. (NYSE:HON) on Tuesday, May 23. Szlosek Thomas A sold $4.73 million worth of Honeywell International Inc. (NYSE:HON) on Monday, May 8.

The stock of Honeywell International Inc. (NYSE:HON) hit a new 52-week high and has $139.18 target or 3.00 % above today’s $135.13 share price. The 8 months bullish chart indicates low risk for the $103.14B company. The 1-year high was reported on Jun, 19 by Barchart.com. If the $139.18 price target is reached, the company will be worth $3.09B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 569,297 shares traded. Honeywell International Inc. (NYSE:HON) has risen 17.66% since June 19, 2016 and is uptrending. It has outperformed by 0.96% the S&P500.

Wall Street await Honeywell International Inc. (NYSE:HON) to release earnings on July, 28. Analysts forecast EPS of $1.77, up exactly $0.11 or 6.63 % from 2014’s $1.66 EPS. The expected HON’s profit could reach $1.35B giving the stock 19.09 P/E in the case that $1.77 earnings per share is reported. After posting $1.66 EPS for the previous quarter, Honeywell International Inc.’s analysts now forecast 6.63 % EPS growth.

Honeywell International Inc. (NYSE:HON) Ratings Coverage

Among 17 analysts covering Honeywell International Inc. (NYSE:HON), 13 have Buy rating, 0 Sell and 4 Hold. Therefore 76% are positive. Honeywell International Inc. had 48 analyst reports since July 30, 2015 according to SRatingsIntel. The stock of Honeywell International Inc. (NYSE:HON) earned “Neutral” rating by UBS on Monday, June 6. On Monday, October 19 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm has “Buy” rating given on Monday, April 25 by Citigroup. The stock of Honeywell International Inc. (NYSE:HON) earned “Outperform” rating by Robert W. Baird on Thursday, October 6. The rating was maintained by RBC Capital Markets on Friday, May 26 with “Buy”. The stock of Honeywell International Inc. (NYSE:HON) earned “Outperform” rating by Oppenheimer on Wednesday, April 26. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr. The stock has “Hold” rating by Credit Suisse on Monday, April 24. Oppenheimer maintained it with “Outperform” rating and $128 target in Monday, April 25 report. On Monday, April 25 the stock rating was maintained by Jefferies with “Buy”.

More notable recent Honeywell International Inc. (NYSE:HON) news were published by: Nasdaq.com which released: “Honeywell International To Acquire Nextnine Cyber Security Firm” on June 12, 2017, also Seekingalpha.com with their article: “Honeywell: Shareholders Push Back” published on June 13, 2017, Seekingalpha.com published: “Honeywell: Activists Flooding Industrials” on May 26, 2017. More interesting news about Honeywell International Inc. (NYSE:HON) were released by: Seekingalpha.com and their article: “Honeywell To Acquire Nextnine For Industrial Cyber Security” published on June 13, 2017 as well as Bloomberg.com‘s news article titled: “Honeywell Shareholders Resist Calls for Aerospace Spinoff, Chairman Says” with publication date: June 12, 2017.

Honeywell International Inc. is a technology and manufacturing company. The company has market cap of $103.14 billion. The Firm operates through four divisions: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. It has a 21.24 P/E ratio. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers.

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